Jefferies Group Reaffirms “Buy” Rating for AT&T (T)

AT&T (NYSE:T)‘s stock had its “buy” rating reissued by investment analysts at Jefferies Group in a report issued on Friday. They presently have a $36.38 price target on the technology company’s stock, down from their prior price target of $48.00. Jefferies Group’s target price would suggest a potential downside of 0.33% from the company’s previous close.

A number of other equities research analysts also recently commented on T. Vetr upgraded shares of AT&T from a “buy” rating to a “strong-buy” rating and set a $42.91 price target for the company in a report on Wednesday, August 16th. Moffett Nathanson reiterated a “neutral” rating on shares of AT&T in a report on Monday, October 16th. Morgan Stanley lifted their price target on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Wednesday, September 27th. Macquarie reiterated a “buy” rating and set a $43.00 price target on shares of AT&T in a report on Friday, September 1st. Finally, Robert W. Baird reiterated an “outperform” rating and set a $43.00 price target on shares of AT&T in a report on Thursday, September 21st. One equities research analyst has rated the stock with a sell rating, eighteen have issued a hold rating and eleven have issued a buy rating to the company’s stock. AT&T currently has an average rating of “Hold” and an average price target of $42.81.

AT&T (T) traded up $0.12 during trading hours on Friday, reaching $36.50. 31,433,094 shares of the company’s stock traded hands, compared to its average volume of 24,996,168. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. AT&T has a 52-week low of $32.55 and a 52-week high of $43.03. The stock has a market cap of $224,070.00, a P/E ratio of 12.09, a P/E/G ratio of 2.94 and a beta of 0.41.

AT&T (NYSE:T) last posted its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business had revenue of $39.67 billion for the quarter, compared to analysts’ expectations of $40.34 billion. During the same quarter last year, the business posted $0.74 earnings per share. The business’s revenue was down 3.0% compared to the same quarter last year. sell-side analysts predict that AT&T will post 2.92 EPS for the current year.

In other news, Director Matthew K. Rose purchased 29,600 shares of AT&T stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, with a total value of $999,000.00. Following the completion of the acquisition, the director now owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.09% of the company’s stock.

A number of hedge funds have recently bought and sold shares of T. Vanguard Group Inc. boosted its position in AT&T by 2.2% during the second quarter. Vanguard Group Inc. now owns 427,857,308 shares of the technology company’s stock worth $16,143,056,000 after purchasing an additional 9,053,649 shares during the period. BlackRock Inc. boosted its position in AT&T by 1.1% during the second quarter. BlackRock Inc. now owns 367,489,130 shares of the technology company’s stock worth $13,865,363,000 after purchasing an additional 4,104,136 shares during the period. Dimensional Fund Advisors LP boosted its position in AT&T by 5.4% during the third quarter. Dimensional Fund Advisors LP now owns 68,356,308 shares of the technology company’s stock worth $2,677,458,000 after purchasing an additional 3,500,299 shares during the period. Bank of New York Mellon Corp boosted its position in AT&T by 2.5% during the third quarter. Bank of New York Mellon Corp now owns 67,677,673 shares of the technology company’s stock worth $2,650,934,000 after purchasing an additional 1,672,264 shares during the period. Finally, Wells Fargo & Company MN boosted its position in AT&T by 2.7% during the second quarter. Wells Fargo & Company MN now owns 48,360,252 shares of the technology company’s stock worth $1,824,633,000 after purchasing an additional 1,263,645 shares during the period. 55.85% of the stock is owned by institutional investors and hedge funds.

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About AT&T

AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.

Analyst Recommendations for AT&T (NYSE:T)

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