AT&T (NYSE:T) Rating Increased to Buy at New Street Research

AT&T (NYSE:T) was upgraded by New Street Research from a “neutral” rating to a “buy” rating in a research report issued on Tuesday,Briefing.com Automated Import reports.

Other analysts also recently issued research reports about the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Oppenheimer raised their price objective on AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Tigress Financial increased their price target on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. Finally, Wells Fargo & Company lowered their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Trading Up 4.3 %

Shares of AT&T stock traded up $0.98 during midday trading on Tuesday, reaching $23.68. 13,155,396 shares of the company’s stock traded hands, compared to its average volume of 35,301,418. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The stock has a 50 day moving average of $22.17 and a 200-day moving average of $20.17. The company has a market cap of $169.91 billion, a PE ratio of 18.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down .5% compared to the same quarter last year. As a group, equities analysts expect that AT&T will post 2.22 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently added to or reduced their stakes in T. Geode Capital Management LLC grew its stake in AT&T by 2.3% in the 3rd quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after acquiring an additional 3,630,972 shares during the last quarter. Bank of New York Mellon Corp boosted its position in AT&T by 7.4% during the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock worth $1,549,375,000 after acquiring an additional 5,592,123 shares during the last quarter. FMR LLC lifted its stake in shares of AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock worth $1,341,693,000 after purchasing an additional 1,149,688 shares during the period. Legal & General Group Plc grew its holdings in AT&T by 2.7% in the 2nd quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Finally, Ameriprise Financial Inc. increased its position in AT&T by 2.0% during the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock worth $985,307,000 after purchasing an additional 1,007,228 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.