AT&T Receives “Outperform” Rating from Zacks (T)
AT&T (NYSE:T)‘s stock had its “outperform” rating restated by Zacks in a report issued on Thursday. They currently have a $2.30 price objective on the stock. Zacks‘s target price points to a potential downside of 93.62% from the stock’s previous close.
Zacks’ analyst wrote, “Northstar Healthcare, Inc. holds interests in and operates four ambulatory surgical centers (ASCs) in Houston, Dallas and Scottsdale. The company just pre-announced above expectation revenues for the second quarter, primarily as a result of the implementation of management’s growth strategy, which includes integrated Direct-to-Consumer marketing programs. Also, the two MRI Centers that were acquired early this year are now coming on line and are expected to bolster the top-line during the second half. In addition, an eminent bariatric surgeon has joined the ASC that was opened in Scottsdale. We reiterate our Outperform rating.”
AT&T (NYSE:T) traded down 1.15% on Thursday, hitting $36.03. The stock had a trading volume of 19,142,988 shares. AT&T has a one year low of $31.74 and a one year high of $36.86. The stock has a 50-day moving average of $35.41 and a 200-day moving average of $34.51. The company has a market cap of $187.0 billion and a price-to-earnings ratio of 10.63.
AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, April 22nd. The company reported $0.71 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts expect that AT&T will post $2.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Stockholders of record on Thursday, July 10th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend is Tuesday, July 8th.
Several other analysts have also recently commented on the stock. Analysts at Cowen and Company raised their price target on shares of AT&T from $35.00 to $38.00 in a research note on Wednesday, July 2nd. Separately, analysts at KeyCorp reiterated a “positive” rating on shares of AT&T in a research note on Tuesday, June 3rd. Finally, analysts at Sanford C. Bernstein initiated coverage on shares of AT&T in a research note on Thursday, May 22nd. They set a “market perform” rating on the stock. Nine research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus price target of $34.46.
AT&T Inc (NYSE:T), is a holding company.
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