Scotiabank Reaffirms “Sector Perform” Rating for AT&T (NYSE:T)

AT&T (NYSE:T)‘s stock had its “sector perform” rating reissued by investment analysts at Scotiabank in a research report issued to clients and investors on Monday, MarketBeat Ratings reports. They presently have a $30.25 price objective on the technology company’s stock. Scotiabank’s target price indicates a potential upside of 15.76% from the stock’s current price.

A number of other analysts have also recently commented on the stock. JPMorgan Chase & Co. increased their price target on shares of AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Hsbc Global Res lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research report on Thursday, July 24th. Bank of America assumed coverage on shares of AT&T in a research report on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. Citigroup reissued a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Finally, Raymond James Financial reaffirmed a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, AT&T has an average rating of “Moderate Buy” and an average price target of $30.75.

AT&T Trading Up 1.0%

Shares of NYSE T opened at $26.13 on Monday. The company’s 50 day simple moving average is $28.54 and its 200 day simple moving average is $27.91. AT&T has a fifty-two week low of $21.05 and a fifty-two week high of $29.79. The firm has a market capitalization of $186.85 billion, a P/E ratio of 14.85, a P/E/G ratio of 3.31 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.76.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The company had revenue of $30.85 billion during the quarter, compared to analysts’ expectations of $30.44 billion. During the same quarter in the prior year, the company earned $0.51 earnings per share. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that AT&T will post 2.14 EPS for the current year.

Institutional Trading of AT&T

Institutional investors have recently made changes to their positions in the company. Stone House Investment Management LLC purchased a new position in shares of AT&T in the 1st quarter worth about $25,000. Front Row Advisors LLC purchased a new position in shares of AT&T in the 2nd quarter worth about $25,000. O Brien Wealth Partners LLC purchased a new position in shares of AT&T in the 2nd quarter worth about $26,000. Hager Investment Management Services LLC boosted its holdings in shares of AT&T by 182.1% in the 1st quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after buying an additional 641 shares during the last quarter. Finally, Kennebec Savings Bank lifted its holdings in AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after purchasing an additional 783 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

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.