Royal Bank of Canada Upgrades AT&T (NYSE:T) to “Outperform”

AT&T (NYSE:T) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a research report issued on Monday,Briefing.com Automated Import reports. The brokerage presently has a $26.00 price target on the technology company’s stock, up from their previous price target of $22.00. Royal Bank of Canada’s price target suggests a potential upside of 14.69% from the stock’s previous close.

Several other brokerages have also recently weighed in on T. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 3rd. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the company an “overweight” rating in a research note on Wednesday, December 4th. Tigress Financial increased their price objective on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, September 27th. Sanford C. Bernstein assumed coverage on AT&T in a research report on Tuesday, December 10th. They issued an “outperform” rating and a $28.00 target price on the stock. Finally, Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $19.00 to $28.00 in a research report on Monday, December 16th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $25.76.

AT&T Trading Down 0.7 %

T opened at $22.67 on Monday. The stock has a market capitalization of $162.66 billion, a P/E ratio of 18.43, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The firm’s fifty day simple moving average is $22.82 and its 200 day simple moving average is $21.11.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s quarterly revenue was down .5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.64 earnings per share. As a group, research analysts anticipate that AT&T will post 2.19 EPS for the current fiscal year.

Institutional Trading of AT&T

Several institutional investors have recently added to or reduced their stakes in the company. Strategic Financial Concepts LLC raised its position in shares of AT&T by 227.6% in the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after buying an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC bought a new position in AT&T during the 3rd quarter worth $25,000. Ritter Daniher Financial Advisory LLC DE raised its holdings in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after acquiring an additional 841 shares in the last quarter. Altshuler Shaham Ltd bought a new stake in shares of AT&T during the 2nd quarter valued at $30,000. Finally, Reston Wealth Management LLC acquired a new stake in shares of AT&T during the 3rd quarter worth $35,000. 57.10% of the stock is currently owned by institutional investors.

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.