AT&T Inc. Expected to Post FY2016 Earnings of $2.82 Per Share (T)
AT&T Inc. (NYSE:T) – Investment analysts at Jefferies Group cut their FY2016 EPS estimates for AT&T in a report issued on Tuesday. Jefferies Group analyst M. Mccormack now forecasts that the firm will post earnings per share of $2.82 for the year, down from their prior estimate of $2.84. Jefferies Group currently has a “Buy” rating and a $48.00 target price on the stock. Jefferies Group also issued estimates for AT&T’s Q4 2016 earnings at $0.63 EPS and FY2017 earnings at $2.96 EPS.
A number of other brokerages have also recently issued reports on T. Robert W. Baird reaffirmed a “neutral” rating and issued a $41.00 target price on shares of AT&T in a report on Tuesday, June 28th. Deutsche Bank AG reissued a “buy” rating and issued a $45.00 price target on shares of AT&T in a research note on Tuesday, October 11th. Citigroup Inc. cut AT&T from a “buy” rating to a “neutral” rating and increased their price target for the company from $42.00 to $46.00 in a research note on Thursday, July 7th. They noted that the move was a valuation call. Zacks Investment Research cut AT&T from a “buy” rating to a “hold” rating in a research note on Monday, July 25th. Finally, FBR & Co increased their price target on AT&T from $38.00 to $42.00 and gave the company a “market perform” rating in a research note on Friday, July 22nd. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.86.
Shares of AT&T (NYSE:T) traded up 0.41% during mid-day trading on Wednesday, hitting $39.52. The stock had a trading volume of 6,011,957 shares. The company has a market capitalization of $243.13 billion, a P/E ratio of 17.04 and a beta of 0.30. AT&T has a 1-year low of $32.22 and a 1-year high of $43.89. The stock’s 50-day moving average price is $40.24 and its 200 day moving average price is $40.53.
AT&T (NYSE:T) last announced its earnings results on Thursday, July 21st. The company reported $0.72 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.72. AT&T had a return on equity of 13.93% and a net margin of 8.76%. The company earned $40.50 billion during the quarter, compared to analyst estimates of $40.75 billion.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Monday, October 10th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.88%. The ex-dividend date of this dividend is Wednesday, October 5th. AT&T’s dividend payout ratio is currently 83.12%.
In other AT&T news, CEO John T. Stankey sold 2,131 shares of the firm’s stock in a transaction 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 completion of the sale, the chief executive officer now directly owns 13,583 shares of the company’s stock, valued at $589,230.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.07% of the stock is owned by company insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC boosted its position in shares of AT&T by 170.8% in the second quarter. Proficio Capital Partners LLC now owns 2,361 shares of the company’s stock valued at $101,000 after buying an additional 1,489 shares during the period. Taylor Wealth Management Partners boosted its position in shares of AT&T by 38.1% in the second quarter. Taylor Wealth Management Partners now owns 2,539 shares of the company’s stock valued at $110,000 after buying an additional 700 shares during the period. WealthTrust Arizona LLC boosted its position in shares of AT&T by 13.0% in the second quarter. WealthTrust Arizona LLC now owns 2,612 shares of the company’s stock valued at $113,000 after buying an additional 300 shares during the period. Wealthcare Capital Management LLC bought a new position in shares of AT&T during the second quarter valued at $117,000. Finally, Invictus RG boosted its position in shares of AT&T by 266.4% in the first quarter. Invictus RG now owns 3,521 shares of the company’s stock valued at $138,000 after buying an additional 2,560 shares during the period. 53.62% of the stock is owned by institutional investors and hedge funds.
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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