AT&T (NYSE:T) Rating Lowered to "Hold" at Hsbc Global Res

Key Points

• AT&T has been downgraded from a "strong-buy" to a "hold" rating by Hsbc Global Res, with a new price objective set at $30.00.
• The company reported an earnings per share (EPS) of $0.54, exceeding the consensus estimate by $0.01, along with a revenue of $30.85 billion for the quarter.
• Despite the downgrade, other analysts maintain a more positive outlook, with some assigning buy ratings and higher price targets, reflecting a consensus rating of "Moderate Buy" for the stock.

AT&T (NYSE:T - Get Free Report) was downgraded by Hsbc Global Res from a "strong-buy" rating to a "hold" rating in a research note issued on Thursday,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Tigress Financial raised their price objective on shares of AT&T from $32.00 to $34.00 and gave the company a "buy" rating in a research report on Tuesday, April 29th. UBS Group restated a "buy" rating and set a $31.00 price objective (up previously from $30.00) on shares of AT&T in a research report on Wednesday, June 18th. Royal Bank Of Canada raised their price objective on shares of AT&T from $28.00 to $30.00 and gave the company an "outperform" rating in a research report on Thursday, April 24th. Bank of America started coverage on shares of AT&T in a research report on Monday, July 7th. They set a "buy" rating and a $32.00 price objective on the stock. Finally, HSBC cut shares of AT&T from a "buy" rating to a "hold" rating and set a $30.00 price objective on the stock. in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, AT&T presently has a consensus rating of "Moderate Buy" and a consensus price target of $29.66.

AT&T Stock Up 0.3%

T opened at $28.02 on Thursday. The company has a 50 day moving average of $27.81 and a 200 day moving average of $26.62. The company has a market cap of $201.58 billion, a PE ratio of 15.92, a price-to-earnings-growth ratio of 3.48 and a beta of 0.42. AT&T has a 12 month low of $18.64 and a 12 month high of $29.19. The company has a current ratio of 0.81, a quick ratio of 0.65 and a debt-to-equity ratio of 1.01.

AT&T (NYSE:T - Get Free Report) last posted its earnings results on Wednesday, July 23rd. The technology company reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion for the quarter, compared to analysts' expectations of $30.44 billion. During the same period in the prior year, the company posted $0.51 EPS. The business's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts expect that AT&T will post 2.14 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $5,266,758,000. Nuveen LLC purchased a new position in shares of AT&T during the first quarter valued at approximately $1,072,128,000. GQG Partners LLC raised its holdings in shares of AT&T by 17.7% during 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 purchasing an additional 17,177,874 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of AT&T by 31.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company's stock valued at $1,216,665,000 after purchasing an additional 12,881,578 shares during the last quarter. Finally, Ontario Teachers Pension Plan Board raised its holdings in shares of AT&T by 30,527.5% during the first quarter. Ontario Teachers Pension Plan Board now owns 11,959,440 shares of the technology company's stock valued at $338,213,000 after purchasing an additional 11,920,392 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

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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