AT&T (NYSE:T) Earns Sector Perform Rating from Scotiabank

Key Points

• Scotiabank has downgraded AT&T from a "strong-buy" rating to a "hold" rating, reflecting growing concerns about the stock's performance.
• Despite the downgrade, AT&T has received varied ratings from analysts, with a current average rating of "Moderate Buy" and a target price of $30.75.
• AT&T's stock recently opened at $25.88, marking a decline of 4.4%, with a market capitalization of $185.05 billion.

AT&T (NYSE:T - Get Free Report)'s stock had its "sector perform" rating reiterated by equities research analysts at Scotiabank in a research report issued on Monday, MarketBeat.com reports. They presently have a $30.25 target price on the technology company's stock. Scotiabank's price objective would indicate a potential upside of 16.89% from the stock's current price.

Other equities research analysts also recently issued reports about the company. Sanford C. Bernstein increased their price target on AT&T from $31.00 to $32.00 and gave the stock an "outperform" rating in a report on Thursday, September 4th. Citigroup reissued a "buy" rating on shares of AT&T in a research note on Tuesday, August 26th. Weiss Ratings reaffirmed a "buy (b)" rating on shares of AT&T in a research note on Saturday, September 27th. Barclays reissued an "equal weight" rating and set a $30.00 price objective on shares of AT&T in a research report on Wednesday, October 1st. Finally, HSBC cut AT&T from a "buy" rating to a "hold" rating and set a $30.00 target price for the company. in a report on Thursday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $30.75.

AT&T Price Performance

T opened at $25.88 on Monday. The company has a fifty day moving average price of $28.56 and a two-hundred day moving average price of $27.92. The firm has a market capitalization of $185.05 billion, a PE ratio of 14.70, a P/E/G ratio of 3.46 and a beta of 0.42. AT&T has a 52 week low of $21.05 and a 52 week high of $29.79. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.76 and a current ratio of 0.81.

AT&T (NYSE:T - Get Free Report) last posted its quarterly 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. The business had revenue of $30.85 billion for the quarter, compared to analyst estimates of $30.44 billion. AT&T had a return on equity of 13.36% and a net margin of 10.29%.The firm's revenue was up 3.4% on a year-over-year basis. During the same period last year, the company earned $0.51 EPS. As a group, analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Stone House Investment Management LLC bought a new position in shares of AT&T in the 1st quarter valued at $25,000. Front Row Advisors LLC bought a new position in AT&T in the 2nd quarter valued at approximately $25,000. O Brien Wealth Partners LLC acquired a new stake in AT&T in the second quarter valued at approximately $26,000. Hager Investment Management Services LLC grew its stake in shares of AT&T by 182.1% during the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company's stock worth $28,000 after buying an additional 641 shares during the last quarter. Finally, Kennebec Savings Bank grew its stake in shares of AT&T by 412.1% during the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company's stock worth $28,000 after buying an additional 783 shares during the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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.