Q3 2016 Earnings Forecast for AT&T Inc. (T) Issued By Jefferies Group
AT&T Inc. (NYSE:T) – Jefferies Group reduced their Q3 2016 earnings per share estimates for AT&T in a research note issued on Friday. Jefferies Group analyst M. Mccormack now expects that the brokerage will post earnings per share of $0.74 for the quarter, down from their prior forecast of $0.75. Jefferies Group has a “Buy” rating and a $48.00 price target on the stock. Jefferies Group also issued estimates for AT&T’s Q4 2016 earnings at $0.65 EPS, FY2016 earnings at $2.84 EPS and FY2017 earnings at $3.01 EPS.
Several other equities research analysts have also recently issued reports on the company. Zacks Investment Research raised AT&T from a “hold” rating to a “buy” rating and set a $47.00 target price for the company in a research note on Wednesday, June 29th. Deutsche Bank AG raised their target price on AT&T from $41.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday, June 28th. Barclays PLC initiated coverage on AT&T in a research note on Monday, June 27th. They set a “buy” rating for the company. Wells Fargo & Co. reissued a “buy” rating on shares of AT&T in a research note on Friday, July 22nd. Finally, S&P Equity Research set a $46.00 target price on AT&T and gave the stock a “buy” rating in a research note on Sunday, July 24th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $41.57.
Shares of AT&T (NYSE:T) opened at 39.90 on Monday. AT&T has a one year low of $32.22 and a one year high of $43.89. The firm has a 50 day moving average price of $40.81 and a 200 day moving average price of $40.53. The stock has a market capitalization of $245.46 billion, a PE ratio of 17.21 and a beta of 0.30.
AT&T (NYSE:T) last issued its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The business earned $40.50 billion during the quarter, compared to analysts’ expectations of $40.75 billion.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Proficio Capital Partners LLC increased its stake in AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock worth $101,000 after buying an additional 1,489 shares during the last quarter. Taylor Wealth Management Partners increased its stake in AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock worth $110,000 after buying an additional 700 shares during the last quarter. WealthTrust Arizona LLC increased its stake in AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock worth $113,000 after buying an additional 300 shares during the last quarter. Wealthcare Capital Management LLC purchased a new stake in AT&T during the second quarter worth approximately $117,000. Finally, Invictus RG increased its stake in AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock worth $138,000 after buying an additional 2,560 shares during the last quarter. 53.64% of the stock is currently owned by institutional investors.
In related news, CEO John T. Stankey sold 2,131 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $43.38, for a total value of $92,442.78. Following the sale, the chief executive officer now owns 13,583 shares of the company’s stock, valued at approximately $589,230.54. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.07% of the stock is owned by corporate insiders.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Monday, October 10th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.81%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is currently 83.12%.
AT&T Inc is a holding company. The Company offers communications and digital entertainment services in the United States and the world. It operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Business Solutions segment includes various categories, including wireless service, fixed strategic services, legacy voice and data services, other services and wireless equipment.
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