AT&T (NYSE:T) Given New $28.00 Price Target at Barclays

Key Points

• Barclays has lowered AT&T's price target from $30.00 to $28.00, maintaining an "equal weight" rating, which implies a 9.71% upside potential from its previous close.
• Analysts have given mixed ratings: while Goldman Sachs assigned a "buy" rating with a $32.00 target, HSBC Global Res downgraded AT&T to a "hold."
• AT&T's recent quarterly earnings met expectations with an EPS of $0.54, but revenue of $30.71 billion fell short of analyst forecasts.

AT&T (NYSE:T - Get Free Report) had its price objective dropped by stock analysts at Barclays from $30.00 to $28.00 in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The brokerage currently has an "equal weight" rating on the technology company's stock. Barclays's price objective indicates a potential upside of 9.71% from the company's previous close.

A number of other research firms have also weighed in on T. The Goldman Sachs Group started coverage on shares of AT&T in a report on Tuesday, September 2nd. They issued a "buy" rating and a $32.00 target price on the stock. UBS Group set a $33.00 price objective on AT&T in a report on Thursday, September 18th. Raymond James Financial reissued a "strong-buy" rating and issued a $33.00 price objective (up from $31.00) on shares of AT&T in a research note on Thursday, September 18th. Sanford C. Bernstein lifted their target price on AT&T from $31.00 to $32.00 and gave the company an "outperform" rating in a research report on Thursday, September 4th. Finally, Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a report on Thursday, July 24th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $30.56.

AT&T Price Performance

Shares of T opened at $25.52 on Thursday. AT&T has a 12-month low of $21.05 and a 12-month high of $29.79. The business's fifty day moving average is $28.12 and its 200 day moving average is $27.77. The company has a quick ratio of 0.76, a current ratio of 0.81 and a debt-to-equity ratio of 1.01. The stock has a market cap of $182.49 billion, a P/E ratio of 14.50, a P/E/G ratio of 2.11 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last announced its quarterly earnings results on Wednesday, October 22nd. The technology company reported $0.54 EPS for the quarter, meeting analysts' consensus estimates of $0.54. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.71 billion during the quarter, compared to analyst estimates of $30.85 billion. During the same quarter in the previous year, the business posted $0.60 EPS. AT&T's quarterly revenue was up 1.7% on a year-over-year basis. Sell-side analysts anticipate that AT&T will post 2.14 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in shares of AT&T by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 661,355,210 shares of the technology company's stock worth $19,139,620,000 after buying an additional 10,310,560 shares during the last quarter. State Street Corp increased its holdings in AT&T by 2.4% during the second quarter. State Street Corp now owns 321,070,509 shares of the technology company's stock worth $9,291,781,000 after buying an additional 7,404,376 shares during the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in AT&T during the second quarter worth about $5,266,758,000. Geode Capital Management LLC raised its position in AT&T by 1.2% in the second quarter. Geode Capital Management LLC now owns 172,039,872 shares of the technology company's stock worth $4,958,066,000 after acquiring an additional 2,066,026 shares during the period. Finally, GQG Partners LLC boosted its stake in AT&T by 17.7% in the first quarter. GQG Partners LLC now owns 113,957,259 shares of the technology company's stock valued at $3,222,711,000 after acquiring an additional 17,177,874 shares during the last quarter. Hedge funds and other institutional investors own 57.10% of the company's stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.

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