AT&T (NYSE:T) Earns Hold Rating from Analysts at Royal Bank of Canada

Royal Bank of Canada started coverage on shares of AT&T (NYSE:T) in a research note issued to investors on Thursday, TipRanks reports. The brokerage set a “hold” rating and a $30.00 price target on the technology company’s stock. Royal Bank of Canada’s price target indicates a potential upside of 7.80% from the company’s previous close.

Other equities analysts also recently issued research reports about the company. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and upped their price target for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Barclays increased their price objective on AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Oppenheimer reissued a “hold” rating on shares of AT&T in a report on Monday, April 26th. Scotiabank raised AT&T from a “sector underperform” rating to a “sector perform” rating and increased their price objective for the company from $28.00 to $31.00 in a report on Wednesday, June 16th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on AT&T from $31.00 to $34.00 in a report on Wednesday, April 28th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and eight have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $31.39.

NYSE T traded down $0.07 during trading hours on Thursday, reaching $27.83. 835,686 shares of the company’s stock were exchanged, compared to its average volume of 30,837,840. The business’s 50-day moving average price is $29.14. AT&T has a one year low of $26.35 and a one year high of $33.88. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.78. The firm has a market capitalization of $198.71 billion, a P/E ratio of -79.71, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.08. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The business had revenue of $43.90 billion during the quarter, compared to analysts’ expectations of $42.69 billion. During the same period in the prior year, the business earned $0.84 EPS. AT&T’s revenue for the quarter was up 2.6% compared to the same quarter last year. Analysts predict that AT&T will post 3.17 EPS for the current year.

In other news, CEO John T. Stankey purchased 34,614 shares of the business’s stock in a transaction dated Wednesday, May 19th. The shares were purchased at an average cost of $28.81 per share, with a total value of $997,229.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Pascal Desroches purchased 3,056 shares of the business’s stock in a transaction dated Wednesday, May 19th. The shares were purchased at an average cost of $29.06 per share, for a total transaction of $88,807.36. Following the completion of the purchase, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

Hedge funds have recently made changes to their positions in the company. Corundum Group Inc. increased its stake in AT&T by 2.2% in the 1st quarter. Corundum Group Inc. now owns 14,753 shares of the technology company’s stock worth $447,000 after acquiring an additional 313 shares during the last quarter. Alpha DNA Investment Management LLC increased its stake in AT&T by 11.3% in the 1st quarter. Alpha DNA Investment Management LLC now owns 3,088 shares of the technology company’s stock worth $93,000 after acquiring an additional 314 shares during the last quarter. Halbert Hargrove Global Advisors LLC increased its stake in AT&T by 3.0% in the 1st quarter. Halbert Hargrove Global Advisors LLC now owns 11,147 shares of the technology company’s stock worth $337,000 after acquiring an additional 320 shares during the last quarter. First National Corp MA ADV increased its stake in AT&T by 1.7% in the 1st quarter. First National Corp MA ADV now owns 19,283 shares of the technology company’s stock worth $584,000 after acquiring an additional 323 shares during the last quarter. Finally, Roble Belko & Company Inc increased its stake in AT&T by 21.7% in the 1st quarter. Roble Belko & Company Inc now owns 1,824 shares of the technology company’s stock worth $55,000 after acquiring an additional 325 shares during the last quarter. 50.40% of the stock is currently owned by hedge funds and other institutional investors.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Analyst Recommendations for AT&T (NYSE:T)

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