Canaccord Genuity Reiterates Buy Rating for AT&T Inc. (T)
Canaccord Genuity reissued their buy rating on shares of AT&T Inc. (NYSE:T) in a research note published on Friday. Canaccord Genuity currently has a $51.00 target price on the technology company’s stock.
Other research analysts have also recently issued reports about the stock. SunTrust Banks, Inc. reissued a hold rating and set a $36.00 price objective on shares of AT&T in a research note on Friday, October 27th. Standpoint Research started coverage on shares of AT&T in a research note on Wednesday, November 8th. They set a buy rating and a $40.00 price objective for the company. Zacks Investment Research raised shares of AT&T from a hold rating to a buy rating and set a $43.00 price objective for the company in a research note on Wednesday, October 11th. Vetr raised shares of AT&T from a buy rating to a strong-buy rating and set a $40.58 price objective for the company in a research note on Monday, October 16th. Finally, Macquarie reissued a buy rating and set a $43.00 price objective on shares of AT&T in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has given a strong buy rating to the company. AT&T presently has a consensus rating of Hold and an average price target of $43.48.
Shares of AT&T (NYSE:T) opened at $34.17 on Friday. AT&T has a 12-month low of $32.55 and a 12-month high of $43.03. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $210,076.59, a PE ratio of 11.68, a P/E/G ratio of 2.76 and a beta of 0.42.
AT&T (NYSE:T) last issued its earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). AT&T had a net margin of 8.00% and a return on equity of 14.49%. The company had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. During the same period last year, the business posted $0.74 earnings per share. The company’s quarterly revenue was down 3.0% on a year-over-year basis. equities analysts forecast that AT&T will post 2.93 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.74%. The ex-dividend date was Friday, October 6th. AT&T’s payout ratio is currently 94.69%.
In related news, Director Matthew K. Rose bought 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was bought at an average price of $33.75 per share, with a total value of $999,000.00. Following the transaction, the director now owns 3,100 shares of the company’s stock, valued at $104,625. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 0.09% of the stock is currently owned by insiders.
Several large investors have recently made changes to their positions in the stock. Israel Discount Bank of New York boosted its stake in AT&T by 0.6% during the 2nd quarter. Israel Discount Bank of New York now owns 4,075 shares of the technology company’s stock valued at $154,000 after purchasing an additional 25 shares during the period. Cedar Wealth Management LLC boosted its stake in AT&T by 0.9% during the 1st quarter. Cedar Wealth Management LLC now owns 5,485 shares of the technology company’s stock valued at $228,000 after purchasing an additional 50 shares during the period. Greatmark Investment Partners Inc. boosted its stake in AT&T by 0.4% during the 2nd quarter. Greatmark Investment Partners Inc. now owns 12,998 shares of the technology company’s stock valued at $490,000 after purchasing an additional 53 shares during the period. Cim LLC boosted its stake in AT&T by 1.0% during the 2nd quarter. Cim LLC now owns 6,399 shares of the technology company’s stock valued at $241,000 after purchasing an additional 62 shares during the period. Finally, Stratford Consulting LLC boosted its stake in AT&T by 0.9% during the 2nd quarter. Stratford Consulting LLC now owns 7,277 shares of the technology company’s stock valued at $275,000 after purchasing an additional 68 shares during the period. 55.21% of the stock is owned by institutional investors and hedge funds.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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