Royal Bank of Canada Reiterates Sector Perform Rating for AT&T (NYSE:T)

AT&T (NYSE:T)‘s stock had its “sector perform” rating reiterated by equities researchers at Royal Bank of Canada in a research report issued on Thursday, Benzinga reports. They presently have a $22.00 target price on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential downside of 0.54% from the stock’s previous close.

Several other analysts have also recently weighed in on T. Wells Fargo & Company reduced their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research note on Thursday. Moffett Nathanson lifted their price objective on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research note on Thursday, August 15th. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Oppenheimer raised their target price on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Price Performance

NYSE T traded down $0.37 during trading on Thursday, hitting $22.12. 8,293,635 shares of the company’s stock were exchanged, compared to its average volume of 35,613,004. The stock’s 50 day moving average price is $21.09 and its two-hundred day moving average price is $19.06. The company has a market cap of $158.61 billion, a PE ratio of 12.71, a P/E/G ratio of 3.67 and a beta of 0.60. AT&T has a fifty-two week low of $14.74 and a fifty-two week high of $22.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last issued 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 net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the business earned $0.64 EPS. The firm’s quarterly revenue was down .5% on a year-over-year basis. Research analysts expect that AT&T will post 2.22 EPS for the current year.

Hedge Funds Weigh In On AT&T

Several large investors have recently added to or reduced their stakes in T. GHP Investment Advisors Inc. lifted its holdings in shares of AT&T by 14.5% in the third quarter. GHP Investment Advisors Inc. now owns 15,314 shares of the technology company’s stock valued at $337,000 after purchasing an additional 1,940 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in AT&T by 53.5% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 1,593,032 shares of the technology company’s stock valued at $35,047,000 after buying an additional 555,503 shares in the last quarter. Viewpoint Capital Management LLC raised its holdings in AT&T by 17.3% during the 3rd quarter. Viewpoint Capital Management LLC now owns 37,351 shares of the technology company’s stock valued at $818,000 after acquiring an additional 5,513 shares during the period. Arkadios Wealth Advisors grew its position in shares of AT&T by 1.9% in the third quarter. Arkadios Wealth Advisors now owns 71,192 shares of the technology company’s stock valued at $1,566,000 after purchasing an additional 1,294 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its position in shares of AT&T by 44.7% during the third quarter. NorthCrest Asset Manangement LLC now owns 74,752 shares of the technology company’s stock valued at $1,645,000 after buying an additional 23,098 shares during the period. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.