Scotiabank Increases AT&T (NYSE:T) Price Target to $30.00

AT&T (NYSE:T) had its target price hoisted by equities researchers at Scotiabank from $29.50 to $30.00 in a report released on Friday,Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price would indicate a potential upside of 11.23% from the company’s previous close.

Other analysts have also issued reports about the stock. Williams Trading set a $30.00 price target on shares of AT&T in a research note on Thursday, April 24th. Evercore ISI upped their price target on shares of AT&T from $25.00 to $27.00 and gave the stock an “in-line” rating in a research note on Thursday, April 24th. Wells Fargo & Company upped their price target on shares of AT&T from $30.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday. Royal Bank Of Canada upped their price target on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Thursday, April 24th. Finally, UBS Group reaffirmed a “buy” rating and issued a $31.00 price target (up from $30.00) on shares of AT&T in a research note on Wednesday, June 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.12.

AT&T Price Performance

Shares of NYSE:T opened at $26.97 on Friday. The company has a quick ratio of 0.65, a current ratio of 0.70 and a debt-to-equity ratio of 0.98. AT&T has a fifty-two week low of $18.14 and a fifty-two week high of $29.19. The firm has a 50-day simple moving average of $27.82 and a 200 day simple moving average of $26.32. The company has a market cap of $194.07 billion, a PE ratio of 16.55, a P/E/G ratio of 3.37 and a beta of 0.42.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.01). AT&T had a net margin of 9.64% and a return on equity of 13.63%. The business had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same period in the prior year, the company earned $0.55 EPS. AT&T’s quarterly revenue was up 2.0% on a year-over-year basis. On average, sell-side analysts anticipate that AT&T will post 2.14 EPS for the current year.

Institutional Trading of AT&T

Large investors have recently modified their holdings of the company. Keystone Financial Group boosted its holdings in shares of AT&T by 196.3% during the 4th quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock worth $5,322,000 after buying an additional 143,744 shares during the period. Capstone Wealth Management LLC bought a new stake in AT&T in the 1st quarter valued at $201,000. World Investment Advisors boosted its holdings in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after purchasing an additional 63,359 shares during the period. DigitalBridge Group Inc. boosted its holdings in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after purchasing an additional 365,776 shares during the period. Finally, Huber Capital Management LLC boosted its holdings in AT&T by 2.7% in the 4th quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company’s stock valued at $13,161,000 after purchasing an additional 15,000 shares during the period. 57.10% of the stock is owned by institutional investors.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.