Scotiabank Issues Positive Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T - Get Free Report) had its target price raised by research analysts at Scotiabank from $29.50 to $30.00 in a research note issued on Friday,Benzinga reports. The firm currently has a "sector outperform" rating on the technology company's stock. Scotiabank's target price would indicate a potential upside of 11.79% from the company's current price.

A number of other analysts have also issued reports on the company. Williams Trading set a $30.00 target price on AT&T in a report on Thursday, April 24th. Wall Street Zen upgraded AT&T from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Tigress Financial upped their price target on AT&T from $32.00 to $34.00 and gave the stock a "buy" rating in a research report on Tuesday, April 29th. Citigroup reiterated a "buy" rating on shares of AT&T in a research note on Tuesday, June 17th. Finally, Evercore ISI upped their price objective on AT&T from $25.00 to $27.00 and gave the company an "in-line" rating in a report on Thursday, April 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $29.12.

AT&T Stock Performance

Shares of T traded down $0.79 during mid-day trading on Friday, reaching $26.84. 9,289,914 shares of the company's stock were exchanged, compared to its average volume of 36,341,530. The business's fifty day simple moving average is $27.84 and its 200-day simple moving average is $26.27. AT&T has a 52-week low of $18.14 and a 52-week high of $29.19. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.70 and a quick ratio of 0.65. The stock has a market capitalization of $193.09 billion, a PE ratio of 16.48, a price-to-earnings-growth ratio of 3.51 and a beta of 0.42.

AT&T (NYSE:T - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The technology company reported $0.51 earnings per share for the quarter, missing analysts' consensus estimates of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts' expectations of $30.39 billion. AT&T had a return on equity of 13.63% and a net margin of 9.64%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.55 EPS. On average, equities research analysts expect that AT&T will post 2.14 earnings per share for the current year.

Hedge Funds Weigh In On AT&T

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC bought a new stake in AT&T during the second quarter worth about $5,266,758,000. Norges Bank bought a new stake in AT&T in the 4th quarter valued at about $1,858,418,000. Nuveen LLC acquired a new stake in AT&T in the first quarter valued at about $1,072,128,000. GQG Partners LLC increased its position in AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company's stock valued at $2,203,667,000 after acquiring an additional 26,280,866 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of AT&T by 31.8% in the 4th 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. 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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