AT&T (T) Sees Large Volume Increase on Analyst Upgrade
AT&T Inc. (NYSE:T) saw strong trading volume on Monday after Deutsche Bank raised their price target on the stock from $35.00 to $37.00. Deutsche Bank currently has a hold rating on the stock. 943,322 shares changed hands during mid-day trading, a decline of 97% from the previous session’s volume of 31,726,822 shares.The stock last traded at $33.88 and had previously closed at $34.07.
Several other analysts also recently commented on the company. UBS Group upgraded AT&T from a “neutral” rating to a “buy” rating and increased their target price for the company from $33.00 to $38.00 in a research note on Friday. They noted that the move was a valuation call. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Macquarie reiterated a “buy” rating and set a $35.00 target price on shares of AT&T in a research note on Wednesday, September 12th. Bank of America reiterated a “buy” rating on shares of AT&T in a research note on Tuesday, August 21st. Finally, Wells Fargo & Co downgraded AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 target price on the stock. in a research note on Wednesday, August 22nd. Three analysts have rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $38.09.
In related news, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were bought at an average cost of $32.48 per share, with a total value of $249,771.20. Following the acquisition, the director now owns 31,405 shares in the company, valued at $1,020,034.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The stock was bought at an average cost of $30.51 per share, for a total transaction of $1,998,405.00. Following the completion of the acquisition, the director now owns 81,319 shares in the company, valued at approximately $2,481,042.69. The disclosure for this purchase can be found here. Company insiders own 0.09% of the company’s stock.
The company has a quick ratio of 0.81, a current ratio of 0.81 and a debt-to-equity ratio of 0.92. The firm has a market capitalization of $207.38 billion, a PE ratio of 11.11, a PEG ratio of 2.69 and a beta of 0.40.
AT&T (NYSE:T) last issued its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. AT&T had a return on equity of 13.64% and a net margin of 20.12%. The firm had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. During the same period in the previous year, the firm posted $0.79 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. equities analysts predict that AT&T Inc. will post 3.52 EPS for the current fiscal year.
AT&T Company Profile (NYSE:T)
AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.
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