AT&T (NYSE:T) Raised to Buy at New Street Research

AT&T (NYSE:T) was upgraded by research analysts at New Street Research from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday,Briefing.com Automated Import reports.

A number of other equities analysts also recently commented on T. Citigroup raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Wednesday, November 27th. Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. Oppenheimer boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 price target on shares of AT&T 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 investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $23.53.

AT&T Stock Up 4.3 %

Shares of NYSE:T traded up $0.98 during midday trading on Tuesday, hitting $23.68. 13,155,396 shares of the stock were exchanged, compared to its average volume of 35,301,418. The business’s fifty day simple moving average is $22.17 and its two-hundred day simple moving average is $20.17. 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 52-week low of $15.94 and a 52-week high of $24.03. The company has a market capitalization of $169.91 billion, a PE ratio of 18.92, a P/E/G ratio of 3.48 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings results 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. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 EPS. AT&T’s revenue for the quarter was down .5% on a year-over-year basis. As a group, research analysts predict that AT&T will post 2.22 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Davidson Kempner Capital Management LP purchased a new stake in AT&T in the second quarter worth $23,888,000. Swiss National Bank lifted its holdings in shares of AT&T by 0.5% in the third quarter. Swiss National Bank now owns 21,282,584 shares of the technology company’s stock worth $468,217,000 after buying an additional 104,700 shares in the last quarter. Caprock Group LLC boosted its holdings in AT&T by 18.3% in the 3rd quarter. Caprock Group LLC now owns 195,991 shares of the technology company’s stock valued at $4,312,000 after purchasing an additional 30,281 shares during the period. Talbot Financial LLC bought a new position in shares of AT&T in the third quarter worth $7,438,000. Finally, Mackenzie Financial Corp boosted its stake in AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the period. 57.10% of the stock is owned by institutional investors and hedge funds.

About AT&T

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.