AT&T Inc. (T) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of AT&T Inc. (NYSE:T) from a sell rating to a hold rating in a research note released on Wednesday morning.
According to Zacks, “AT&T posted weak third-quarter 2017 financial results with 44.8% year-over-year fall in the net gain of postpaid wireless subscribers. Also, AT&T lost 89,000 video customers in the reported quarter due to cord-cutting. Despite such headwinds, we appreciate AT&T’s 5G technology related trials and deployment plans. AT&T’s NetBond is gearing up to offer multiple cloud-to-cloud connections. AT&T is exploring a strategic option to sell a major part of its Latin American pay-TV operations. The AT&T-Time Warner pending deal awaits nod from Brazil and United States. However, AT&T continues to struggle in the competitive and saturated wireless U.S. market. Loss in access lines, operating expenses, marketing costs associated with attractive discounts, regulatory norms and union issues are other major risks. Over the past three months, the stock price declined 12.0% as against the industry's loss of 8.7%.”
T has been the topic of a number of other research reports. Macquarie reaffirmed a buy rating and issued a $43.00 target price on shares of AT&T in a research report on Friday, September 1st. Vetr raised AT&T from a buy rating to a strong-buy rating and set a $44.24 target price on the stock in a research report on Thursday, September 28th. KeyCorp reaffirmed a hold rating on shares of AT&T in a research report on Wednesday, October 11th. Robert W. Baird lowered their target price on AT&T from $43.00 to $42.00 and set an outperform rating on the stock in a research report on Wednesday, October 25th. Finally, Cowen and Company reaffirmed a market perform rating and issued a $41.00 target price (down previously from $43.00) on shares of AT&T in a research report on Wednesday, July 26th. One investment analyst has rated the stock with a sell rating, eighteen have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $42.87.
Shares of AT&T (NYSE:T) opened at $33.30 on Wednesday. The company has a market capitalization of $204,428.70, a PE ratio of 11.37, a PEG ratio of 2.68 and a beta of 0.42. AT&T has a twelve month low of $32.93 and a twelve month high of $43.03. The company has a quick ratio of 1.12, a current ratio of 1.60 and a debt-to-equity ratio of 1.23.
AT&T (NYSE:T) last issued its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.75 by ($0.01). The firm had revenue of $39.67 billion during the quarter, compared to the consensus estimate of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.74 earnings per share. sell-side analysts anticipate that AT&T will post 2.93 EPS for the current year.
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The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.49 dividend. This represents a $1.96 annualized dividend and a dividend yield of 5.89%. The ex-dividend date was Friday, October 6th. AT&T’s dividend payout ratio (DPR) is currently 94.69%.
In related news, Director Matthew K. Rose purchased 29,600 shares of the business’s stock in a transaction that occurred on Wednesday, October 25th. The stock was acquired at an average cost of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the purchase, the director now owns 3,100 shares in the company, valued at approximately $104,625. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.09% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Holderness Investments Co. lifted its stake in AT&T by 62.9% during the first quarter. Holderness Investments Co. now owns 96,452 shares of the technology company’s stock worth $4,008,000 after purchasing an additional 37,234 shares during the last quarter. Doyle Wealth Management lifted its stake in AT&T by 4.3% during the second quarter. Doyle Wealth Management now owns 37,561 shares of the technology company’s stock worth $1,417,000 after purchasing an additional 1,559 shares during the last quarter. Telos Capital Management Inc. lifted its stake in AT&T by 4.8% during the second quarter. Telos Capital Management Inc. now owns 69,994 shares of the technology company’s stock worth $2,641,000 after purchasing an additional 3,197 shares during the last quarter. Altfest L J & Co. Inc. lifted its stake in AT&T by 42.1% during the second quarter. Altfest L J & Co. Inc. now owns 45,618 shares of the technology company’s stock worth $1,721,000 after purchasing an additional 13,510 shares during the last quarter. Finally, Ingalls & Snyder LLC lifted its stake in AT&T by 2.3% during the second quarter. Ingalls & Snyder LLC now owns 460,224 shares of the technology company’s stock worth $17,364,000 after purchasing an additional 10,305 shares during the last quarter. Hedge funds and other institutional investors own 55.08% of the company’s stock.
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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