AT&T Inc. Expected to Post FY2016 Earnings of $2.82 Per Share (T)
AT&T Inc. (NYSE:T) – Research analysts at Jefferies Group lowered their FY2016 earnings per share estimates for AT&T in a note issued to investors on Tuesday. Jefferies Group analyst M. Mccormack now forecasts that the brokerage will post earnings of $2.82 per share for the year, down from their previous estimate of $2.84. Jefferies Group currently has a “Buy” rating and a $48.00 target price on the stock. Jefferies Group also issued estimates for AT&T’s Q4 2016 earnings at $0.63 EPS and FY2017 earnings at $2.96 EPS.
AT&T (NYSE:T) last issued its quarterly earnings data on Thursday, July 21st. The company reported $0.72 EPS for the quarter, hitting 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 analyst estimates of $40.75 billion.
A number of other research firms have also recently commented on T. Zacks Investment Research raised shares of AT&T from a “hold” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Tuesday, July 5th. S&P Equity Research set a $46.00 price target on shares of AT&T and gave the company a “buy” rating in a report on Sunday, July 24th. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 price target on shares of AT&T in a report on Monday, July 25th. Citigroup Inc. cut shares of AT&T from a “buy” rating to a “neutral” rating and upped their price target for the company from $42.00 to $46.00 in a report on Thursday, July 7th. They noted that the move was a valuation call. Finally, Barclays PLC reaffirmed a “buy” rating on shares of AT&T in a report on Sunday, July 17th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $41.86.
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Shares of AT&T (NYSE:T) traded up 0.41% during trading on Wednesday, hitting $39.52. 6,011,957 shares of the stock traded hands. The firm has a market cap of $243.13 billion, a PE ratio of 17.04 and a beta of 0.30. The company’s 50 day moving average is $40.24 and its 200 day moving average is $40.53. AT&T has a 52-week low of $32.22 and a 52-week high of $43.89.
Several institutional investors have recently modified their holdings of the stock. Douglas Lane & Associates LLC acquired a new position in shares of AT&T during the first quarter worth $1,767,000. Delta Asset Management LLC TN increased its position in shares of AT&T by 1.1% in the first quarter. Delta Asset Management LLC TN now owns 116,602 shares of the company’s stock worth $4,567,000 after buying an additional 1,243 shares in the last quarter. North Star Investment Management Corp. increased its position in shares of AT&T by 0.4% in the first quarter. North Star Investment Management Corp. now owns 111,081 shares of the company’s stock worth $4,351,000 after buying an additional 389 shares in the last quarter. Acropolis Investment Management LLC increased its position in shares of AT&T by 8.3% in the first quarter. Acropolis Investment Management LLC now owns 12,365 shares of the company’s stock worth $428,000 after buying an additional 945 shares in the last quarter. Finally, Wilbanks Smith & Thomas Asset Management LLC increased its position in shares of AT&T by 3.3% in the first quarter. Wilbanks Smith & Thomas Asset Management LLC now owns 61,028 shares of the company’s stock worth $2,390,000 after buying an additional 1,973 shares in the last quarter. Institutional investors own 53.62% of the company’s stock.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction dated Friday, July 22nd. The shares were sold at an average price of $43.38, for a total transaction of $92,442.78. Following the completion of the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.07% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date is Wednesday, October 5th. AT&T’s dividend payout ratio is presently 83.12%.
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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