AT&T Coverage Initiated by Analysts at Bernstein (T)
Stock analysts at Bernstein assumed coverage on shares of AT&T (NYSE:T) in a report issued on Wednesday. The firm set a “market perform” rating and a $32.00 price target on the stock. Bernstein’s target price suggests a potential downside of 9.27% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated an “outperform” rating on shares of AT&T in a research note on Monday. They now have a $2.50 price target on the stock. Separately, analysts at Morgan Stanley upgraded shares of AT&T from a “market perform” rating to a “buy” rating in a research note on Monday. They now have a $41.00 price target on the stock. Finally, analysts at ING raised their price target on shares of AT&T to $39.00 in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. AT&T has a consensus rating of “Hold” and an average price target of $35.16.
Shares of AT&T (NYSE:T) traded down 0.65% during mid-day trading on Wednesday, hitting $35.27. 32,659,976 shares of the company’s stock traded hands. AT&T has a 52 week low of $31.74 and a 52 week high of $37.17. The stock’s 50-day moving average is $35.67 and its 200-day moving average is $34.37. The company has a market cap of $183.1 billion and a P/E ratio of 10.35. AT&T also saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totalling 185,900,383 shares, a drop of 5.7% from the April 15th total of 197,159,869 shares. Currently, 3.6% of the company’s stock are short sold. Based on an average daily volume of 29,145,466 shares, the days-to-cover ratio is presently 6.4 days.
AT&T (NYSE:T) last announced its earnings results on Tuesday, April 22nd. The company reported $0.71 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.69 by $0.02. The company had revenue of $32.50 billion for the quarter, compared to the consensus estimate of $32.36 million. During the same quarter last year, the company posted $0.64 earnings per share. AT&T’s revenue was up 3.6% compared to the same quarter last year. On average, analysts predict that AT&T will post $2.69 earnings per share for the current fiscal year.
AT&T Inc (NYSE:T), is a holding company.
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