AT&T (NYSE:T) Price Target Increased to $22.50 by Analysts at Scotiabank

AT&T (NYSE:T) had its price objective boosted by analysts at Scotiabank from $22.00 to $22.50 in a research note issued on Thursday, Benzinga reports. The brokerage presently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s price objective would indicate a potential upside of 35.95% from the stock’s previous close.

Several other brokerages have also recently issued reports on T. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Tigress Financial upped their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Finally, Citigroup upped their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Stock Down 1.5 %

Shares of T traded down $0.26 during mid-day trading on Thursday, hitting $16.55. 19,930,663 shares of the company’s stock were exchanged, compared to its average volume of 39,088,613. The company has a market cap of $118.38 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The stock’s 50-day moving average is $16.98 and its 200-day moving average is $16.54.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. On average, sell-side analysts anticipate that AT&T will post 2.21 earnings per share for the current fiscal year.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently modified their holdings of T. Vanguard Group Inc. lifted its holdings in AT&T by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 622,406,459 shares of the technology company’s stock valued at $10,443,980,000 after acquiring an additional 2,155,232 shares during the period. Newport Trust Company LLC lifted its holdings in AT&T by 0.3% in the third quarter. Newport Trust Company LLC now owns 199,998,040 shares of the technology company’s stock valued at $3,003,971,000 after acquiring an additional 673,043 shares during the period. Northern Trust Corp lifted its holdings in AT&T by 2.5% in the third quarter. Northern Trust Corp now owns 75,158,354 shares of the technology company’s stock valued at $1,128,878,000 after acquiring an additional 1,828,237 shares during the period. Norges Bank acquired a new stake in AT&T in the fourth quarter valued at $1,118,288,000. Finally, Bank of New York Mellon Corp increased its position in shares of AT&T by 0.6% in the third quarter. Bank of New York Mellon Corp now owns 60,270,173 shares of the technology company’s stock valued at $905,258,000 after buying an additional 334,222 shares in the last quarter. 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.