AT&T (NYSE:T) Receives “Sector Perform” Rating from Scotiabank

AT&T (NYSE:T)‘s stock had its “sector perform” rating reissued by research analysts at Scotiabank in a note issued to investors on Monday, MarketBeat Ratings reports. They currently have a $30.25 target price on the technology company’s stock. Scotiabank’s target price would suggest a potential upside of 16.89% from the stock’s previous close.

Several other analysts have also recently commented on the company. HSBC cut AT&T from a “buy” rating to a “hold” rating and set a $30.00 target price on the stock. in a report on Thursday, July 24th. Bank of America started coverage on shares of AT&T in a research note on Monday, July 7th. They issued a “buy” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on shares of AT&T from $31.00 to $33.00 and gave the stock an “overweight” rating in a research report on Thursday, July 24th. Wells Fargo & Company boosted their target price on shares of AT&T from $30.00 to $31.00 and gave the company an “overweight” rating in a report on Thursday, July 10th. Finally, The Goldman Sachs Group started coverage on shares of AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

AT&T Price Performance

Shares of NYSE:T opened at $25.88 on Monday. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81. AT&T has a 52 week low of $21.05 and a 52 week high of $29.79. The firm has a market cap of $185.05 billion, a PE ratio of 14.70, a price-to-earnings-growth ratio of 3.46 and a beta of 0.42. The firm’s fifty day moving average is $28.56 and its 200-day moving average is $27.92.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.01. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same period in the prior year, the business posted $0.51 earnings per share. AT&T’s quarterly revenue was up 3.4% on a year-over-year basis. Sell-side analysts predict that AT&T will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new stake in shares of AT&T in the 2nd quarter worth about $5,266,758,000. Norges Bank bought a new stake in AT&T during the 2nd quarter worth approximately $2,228,655,000. Nuveen LLC purchased a new stake in shares of AT&T in the first quarter worth approximately $1,072,128,000. GQG Partners LLC raised its stake in shares of AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company’s stock worth $3,222,711,000 after purchasing an additional 17,177,874 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board lifted its holdings in shares of AT&T by 30,527.5% in the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company’s stock valued at $338,213,000 after purchasing an additional 11,920,392 shares in the last quarter. Institutional investors own 57.10% of the company’s stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.