AT&T (NYSE:T) PT Raised to $22.50 at Scotiabank

AT&T (NYSE:T) had its price objective lifted by analysts at Scotiabank from $22.00 to $22.50 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective would indicate a potential upside of 34.37% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. Tigress Financial boosted their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Barclays boosted their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Finally, Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average target price of $20.81.

AT&T Stock Up 1.0 %

T stock opened at $16.75 on Thursday. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. AT&T has a 1 year low of $13.43 and a 1 year high of $18.16. The company has a fifty day simple moving average of $16.96 and a 200 day simple moving average of $16.56. The firm has a market cap of $119.77 billion, a PE ratio of 9.00, a PEG ratio of 2.54 and a beta of 0.57.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. Sell-side analysts anticipate that AT&T will post 2.21 EPS for the current fiscal year.

Institutional Trading of AT&T

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Exchange Traded Concepts LLC grew its stake in AT&T by 33.0% during the third quarter. Exchange Traded Concepts LLC now owns 43,337 shares of the technology company’s stock worth $651,000 after buying an additional 10,758 shares during the last quarter. Advisory Alpha LLC grew its stake in AT&T by 12.7% during the third quarter. Advisory Alpha LLC now owns 72,868 shares of the technology company’s stock worth $1,094,000 after buying an additional 8,236 shares during the last quarter. Secure Asset Management LLC grew its stake in AT&T by 22.6% during the third quarter. Secure Asset Management LLC now owns 18,367 shares of the technology company’s stock worth $276,000 after buying an additional 3,388 shares during the last quarter. Stewart & Patten Co. LLC grew its stake in AT&T by 1.5% during the third quarter. Stewart & Patten Co. LLC now owns 647,260 shares of the technology company’s stock worth $9,722,000 after buying an additional 9,475 shares during the last quarter. Finally, Spirit of America Management Corp NY grew its stake in AT&T by 46.2% during the third quarter. Spirit of America Management Corp NY now owns 9,500 shares of the technology company’s stock worth $143,000 after buying an additional 3,000 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.