Wolfe Research Downgrades AT&T (NYSE:T) to Peer Perform

AT&T (NYSE:T) was downgraded by stock analysts at Wolfe Research from an “outperform” rating to a “peer perform” rating in a report released on Monday, Marketbeat.com reports.

A number of other brokerages have also weighed in on T. KeyCorp upgraded AT&T from a “sector weight” rating to an “overweight” rating and set a $30.00 price target on the stock in a research note on Tuesday, November 11th. Royal Bank Of Canada lowered their target price on shares of AT&T from $31.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 23rd. Wall Street Zen lowered shares of AT&T from a “buy” rating to a “hold” rating in a research note on Saturday, November 8th. Wells Fargo & Company decreased their price target on shares of AT&T from $31.00 to $29.00 and set an “overweight” rating for the company in a report on Thursday, October 16th. Finally, TD Cowen boosted their price objective on shares of AT&T from $32.00 to $33.00 and gave the company a “hold” rating in a report on Thursday, October 23rd. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and nine have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.55.

AT&T Stock Performance

Shares of T stock opened at $24.03 on Monday. AT&T has a 12-month low of $21.38 and a 12-month high of $29.79. The business’s fifty day simple moving average is $25.33 and its 200-day simple moving average is $27.21. The company has a current ratio of 1.01, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The company has a market cap of $170.32 billion, a PE ratio of 7.80, a PEG ratio of 1.42 and a beta of 0.38.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion for the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the business earned $0.60 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. Analysts expect that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Front Row Advisors LLC acquired a new stake in AT&T during the second quarter worth approximately $25,000. Mountain Hill Investment Partners Corp. boosted its holdings in shares of AT&T by 363.7% in the 3rd quarter. Mountain Hill Investment Partners Corp. now owns 895 shares of the technology company’s stock valued at $25,000 after buying an additional 702 shares in the last quarter. GGM Financials LLC purchased a new position in shares of AT&T in the 3rd quarter valued at $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T during the 2nd quarter worth $26,000. Finally, Kennebec Savings Bank lifted its position in AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock valued at $28,000 after acquiring an additional 783 shares during the last quarter. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.