Zacks Investment Research lowered shares of AT&T (NYSE:T) from a hold rating to a sell rating in a report issued on Tuesday.

According to Zacks, “Over the past six months, shares of AT&T declined 4.6% as against the industry’s loss of 2.6%. Moreover, AT&T continues to struggle in the competitive and saturated U.S. wireless market. Loss in access lines, operating expenses, marketing costs associated with attractive discounts, regulatory norms and union issues are other headwinds. On the flip side, we appreciate AT&T’s 5G network trials in different cities. This is in sync with its plan to offer 5G services to consumers from late 2018. AT&T’s DIRECTV NOW reported more than 1 million subscribers. AT&T-Verizon have teamed up with Tillman to build cell towers in the United States. 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. AT&T-Time Warner extended their proposed deal closure deadline to Apr 22, 2018.”

Other research analysts also recently issued research reports about the company. Vetr raised AT&T from a buy rating to a strong-buy rating and set a $42.91 target price on the stock in a report on Wednesday, August 16th. Jefferies Group reaffirmed a buy rating and set a $48.00 target price on shares of AT&T in a report on Thursday, August 24th. Oppenheimer reaffirmed a hold rating on shares of AT&T in a report on Wednesday, October 25th. Canaccord Genuity reaffirmed a buy rating and set a $51.00 target price on shares of AT&T in a report on Friday, November 10th. Finally, Robert W. Baird reaffirmed an outperform rating and set a $43.00 target price on shares of AT&T in a report on Thursday, September 21st. Two research analysts have rated the stock with a sell rating, seventeen have issued a hold rating and eleven have issued a buy rating to the company. AT&T currently has an average rating of Hold and a consensus target price of $42.81.

Shares of AT&T (NYSE T) traded down $0.30 on Tuesday, reaching $37.74. The company had a trading volume of 34,286,500 shares, compared to its average volume of 25,302,432. The stock has a market capitalization of $233,527.56, a P/E ratio of 12.98, a P/E/G ratio of 3.16 and a beta of 0.44. AT&T has a 1 year low of $32.55 and a 1 year 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.

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 business had revenue of $39.67 billion during the quarter, compared to analysts’ expectations of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The company’s revenue for the quarter was down 3.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.74 EPS. sell-side analysts anticipate that AT&T will post 2.92 earnings per share for the current year.

In related news, Director Matthew K. Rose purchased 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, for a total transaction 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 filing with the SEC, which is accessible through the SEC website. 0.09% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of AT&T during the 2nd quarter valued at $314,000. Ullmann Financial Group Inc. acquired a new position in shares of AT&T during the 1st quarter valued at $101,000. Almanack Investment Partners LLC. acquired a new position in shares of AT&T during the 1st quarter valued at $109,000. New Capital Management LP increased its position in shares of AT&T by 130.9% during the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock valued at $104,000 after purchasing an additional 1,500 shares during the period. Finally, Financial Engines Advisors L.L.C. acquired a new position in shares of AT&T during the 3rd quarter valued at $104,000. Hedge funds and other institutional investors own 55.85% of the company’s stock.

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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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