AT&T Inc. (T) Stock Rating Upgraded by Zacks Investment Research
AT&T Inc. (NYSE:T) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Acquisitions and strategic collaborations have played a major role in shaping AT&T’s growth. The acquisition of DIRECTV and QuickPlay Media Inc. by AT&T has positioned it as the leader in the U.S. pay-TV market and boosted AT&T’s earnings and revenues. AT&T’s recent collaboration with Intel should boost software-based network services and IoT. Additionally, AT&T is focused on expanding its 4G LTE wireless networks and field testing the next-gen 5G technology. However, AT&T operates in a saturated wireless market where spectrum crunch is a big issue. Moreover, loss in access lines, stringent regulatory measures and union issues are major headwinds. Additionally, persistent losses in its wireline division is a worry. The company has also been facing intense competition from peers, compelling it to lower the price of its services. This will dent AT&T's margins going ahead.”
Other research analysts have also issued reports about the stock. Jefferies Group reissued a “buy” rating and issued a $44.00 target price on shares of AT&T in a report on Thursday, July 21st. Barclays PLC reissued a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 target price on shares of AT&T in a report on Sunday, July 17th. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a report on Friday, July 22nd. Finally, S&P Equity Research set a $46.00 target price on shares of AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $41.86.
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AT&T (NYSE:T) opened at 39.22 on Monday. The company has a market capitalization of $241.28 billion, a price-to-earnings ratio of 16.91 and a beta of 0.30. The firm has a 50-day moving average of $40.33 and a 200 day moving average of $40.51. AT&T has a one year low of $32.22 and a one year high of $43.89.
AT&T (NYSE:T) last released its quarterly earnings data on Thursday, July 21st. The company reported $0.72 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.72. AT&T had a net margin of 8.76% and a return on equity of 13.93%. The firm had revenue of $40.50 billion for the quarter, compared to analysts’ expectations of $40.75 billion. Equities research analysts predict that AT&T will post $2.86 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Monday, October 10th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.90%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s payout ratio is 83.12%.
In other news, CEO John T. Stankey sold 2,131 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total transaction of $92,442.78. Following the sale, the chief executive officer now directly owns 13,583 shares in the company, valued at approximately $589,230.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.07% of the company’s stock.
A number of hedge funds have recently bought and sold shares of T. Bollard Group LLC raised its position in shares of AT&T by 1.1% in the second quarter. Bollard Group LLC now owns 451,190 shares of the company’s stock worth $19,496,000 after buying an additional 4,776 shares during the last quarter. Aviva PLC raised its position in shares of AT&T by 5.5% in the first quarter. Aviva PLC now owns 4,540,243 shares of the company’s stock worth $177,841,000 after buying an additional 237,012 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt raised its position in shares of AT&T by 6.2% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 811,263 shares of the company’s stock worth $35,055,000 after buying an additional 47,100 shares during the last quarter. Community Trust & Investment Co. raised its position in shares of AT&T by 1.8% in the second quarter. Community Trust & Investment Co. now owns 516,263 shares of the company’s stock worth $22,307,000 after buying an additional 9,126 shares during the last quarter. Finally, Logan Capital Management Inc. raised its position in shares of AT&T by 0.3% in the first quarter. Logan Capital Management Inc. now owns 736,564 shares of the company’s stock worth $28,851,000 after buying an additional 2,079 shares during the last quarter. Hedge funds and other institutional investors own 53.62% of the company’s stock.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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