AT&T (NYSE:T) Stock Price Expected to Rise, Barclays Analyst Says

AT&T (NYSE:T) had its price target boosted by equities research analysts at Barclays from $24.00 to $27.00 in a report released on Wednesday,Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 13.68% from the stock’s current price.

A number of other analysts have also commented on the stock. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the stock an “in-line” rating in a research note on Thursday, October 24th. Citigroup lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, November 27th. Oppenheimer raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, October 24th. Finally, Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.73.

AT&T Stock Up 4.6 %

NYSE:T opened at $23.75 on Wednesday. The firm has a market cap of $170.41 billion, a P/E ratio of 19.31, a P/E/G ratio of 3.41 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. AT&T has a fifty-two week low of $15.94 and a fifty-two week high of $24.03. The firm has a 50-day simple moving average of $22.24 and a two-hundred day simple moving average of $20.25.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. AT&T’s revenue was down .5% compared to the same quarter last year. During the same period last year, the business earned $0.64 EPS. Analysts predict that AT&T will post 2.22 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in AT&T by 2.3% during the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock worth $3,532,684,000 after acquiring an additional 3,630,972 shares during the period. Bank of New York Mellon Corp lifted its holdings in AT&T by 7.4% in the second quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after acquiring an additional 5,592,123 shares during the period. FMR LLC lifted its holdings in AT&T by 1.9% in the third quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after acquiring an additional 1,149,688 shares during the period. Legal & General Group Plc lifted its holdings in AT&T by 2.7% in the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after acquiring an additional 1,569,374 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. Institutional investors and hedge funds own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.