AT&T (NYSE:T) Stock Price Expected to Rise, Royal Bank of Canada Analyst Says

AT&T (NYSE:T - Get Free Report) had its price target hoisted by equities research analysts at Royal Bank of Canada from $28.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an "outperform" rating on the technology company's stock. Royal Bank of Canada's price target would suggest a potential upside of 10.09% from the stock's current price.

Other research analysts have also recently issued reports about the company. Sanford C. Bernstein raised their target price on AT&T from $28.00 to $29.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 28th. Cowen reaffirmed a "hold" rating on shares of AT&T in a report on Thursday. TD Securities upped their target price on shares of AT&T from $29.00 to $30.00 and gave the company a "hold" rating in a research note on Thursday. DZ Bank upgraded shares of AT&T from a "hold" rating to a "buy" rating and set a $27.00 price target for the company in a research note on Wednesday, January 29th. Finally, BNP Paribas upgraded AT&T from a "neutral" rating to an "outperform" rating and set a $28.50 price objective on the stock in a research note on Thursday, February 13th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, AT&T has an average rating of "Moderate Buy" and an average target price of $28.62.

AT&T Stock Performance

Shares of NYSE:T traded up $0.44 on Thursday, hitting $27.25. 24,128,581 shares of the company were exchanged, compared to its average volume of 36,455,890. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.62 and a current ratio of 0.66. The company's 50 day moving average price is $26.96 and its two-hundred day moving average price is $24.35. AT&T has a one year low of $16.73 and a one year high of $29.03. The firm has a market capitalization of $195.61 billion, a price-to-earnings ratio of 18.29, a PEG ratio of 3.00 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last issued its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.01). AT&T had a net margin of 8.95% and a return on equity of 13.97%. The firm had revenue of $30.63 billion for the quarter, compared to the consensus estimate of $30.39 billion. During the same quarter in the prior year, the firm earned $0.55 earnings per share. The company's revenue was up 2.0% on a year-over-year basis. Research analysts expect that AT&T will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On AT&T

Hedge funds and other institutional investors have recently made changes to their positions in the company. Passumpsic Savings Bank raised its stake in shares of AT&T by 12.2% during the third quarter. Passumpsic Savings Bank now owns 17,369 shares of the technology company's stock worth $382,000 after buying an additional 1,893 shares during the last quarter. Sculati Wealth Management LLC raised its position in shares of AT&T by 38.9% during the 3rd quarter. Sculati Wealth Management LLC now owns 45,581 shares of the technology company's stock valued at $1,003,000 after acquiring an additional 12,772 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its stake in shares of AT&T by 6.1% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 129,474 shares of the technology company's stock valued at $2,848,000 after purchasing an additional 7,394 shares during the period. World Investment Advisors LLC boosted its position in shares of AT&T by 28.4% in the 3rd quarter. World Investment Advisors LLC now owns 174,118 shares of the technology company's stock worth $3,831,000 after purchasing an additional 38,548 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB grew its stake in shares of AT&T by 386.1% during the third quarter. Wilmington Savings Fund Society FSB now owns 266,565 shares of the technology company's stock worth $5,864,000 after purchasing an additional 211,723 shares during the period. 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.