Royal Bank Of Canada Has Lowered Expectations for AT&T (NYSE:T) Stock Price

Key Points

• Royal Bank of Canada has reduced its price target for AT&T's stock from $31.00 to $30.00, suggesting a potential upside of 19.95% based on current stock prices.
• Other analysts have varied opinions, with Morgan Stanley raising their target to $32.00 and UBS setting it at $33.00, reflecting a mix of ratings including "Buy" and "Hold".
• AT&T reported earnings of $0.54 per share for the latest quarter, meeting expectations but showing a slight decline in revenue compared to the previous year.

AT&T (NYSE:T - Get Free Report) had its price target decreased by stock analysts at Royal Bank Of Canada from $31.00 to $30.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has an "outperform" rating on the technology company's stock. Royal Bank Of Canada's price target indicates a potential upside of 19.95% from the stock's current price.

Several other equities analysts have also commented on T. Morgan Stanley upped their target price on AT&T from $31.00 to $32.00 and gave the company an "overweight" rating in a research note on Wednesday, July 16th. UBS Group set a $33.00 price target on AT&T in a research report on Thursday, September 18th. Raymond James Financial reissued a "strong-buy" rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Hsbc Global Res downgraded AT&T from a "strong-buy" rating to a "hold" rating in a research report on Thursday, July 24th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of AT&T in a research report on Wednesday, October 8th. 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, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $30.56.

AT&T Stock Performance

AT&T stock opened at $25.01 on Thursday. The firm has a market capitalization of $178.84 billion, a P/E ratio of 14.21, a PEG ratio of 2.11 and a beta of 0.42. The stock has a fifty day moving average price of $28.12 and a 200 day moving average price of $27.77. AT&T has a 52 week low of $21.38 and a 52 week high of $29.79. The company has a current ratio of 0.81, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01.

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

Institutional Trading of AT&T

Institutional investors and hedge funds have recently bought and sold shares of the company. Denali Advisors LLC raised its stake in AT&T by 5.9% during the second quarter. Denali Advisors LLC now owns 401,037 shares of the technology company's stock valued at $11,606,000 after buying an additional 22,394 shares in the last quarter. CHURCHILL MANAGEMENT Corp raised its position in shares of AT&T by 1.5% during the 2nd quarter. CHURCHILL MANAGEMENT Corp now owns 324,104 shares of the technology company's stock worth $9,380,000 after purchasing an additional 4,793 shares during the period. Kickstand Ventures LLC. acquired a new stake in shares of AT&T during the 2nd quarter worth approximately $489,000. Sentry Investment Management LLC raised its position in shares of AT&T by 153.2% during the 2nd quarter. Sentry Investment Management LLC now owns 22,095 shares of the technology company's stock worth $625,000 after purchasing an additional 13,370 shares during the period. Finally, ASR Vermogensbeheer N.V. raised its position in shares of AT&T by 1.4% during the 2nd quarter. ASR Vermogensbeheer N.V. now owns 722,568 shares of the technology company's stock worth $20,910,000 after purchasing an additional 9,970 shares during the period. Institutional investors and hedge funds own 57.10% of the company's stock.

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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