AT&T (NYSE:T) Price Target Raised to $55.00

AT&T (NYSE:T) had its price target raised by analysts at Royal Bank of Canada from $53.00 to $55.00 in a note issued to investors on Friday, Stock Target Advisor 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 39.66% from the stock’s previous close.

Several other brokerages have also recently issued reports on T. Oppenheimer set a $41.00 price target on AT&T and gave the company a “buy” rating in a research report on Tuesday, September 10th. Barclays lifted their price target on AT&T from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Tuesday, September 10th. They noted that the move was a valuation call. ValuEngine cut AT&T from a “hold” rating to a “sell” rating in a research report on Thursday, August 1st. Morgan Stanley set a $37.00 price objective on AT&T and gave the stock a “buy” rating in a research note on Tuesday, September 10th. Finally, Raymond James reissued a “buy” rating and set a $45.00 price objective (up from $40.00) on shares of AT&T in a research note on Tuesday, October 29th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $40.74.

Shares of T stock opened at $39.38 on Friday. AT&T has a 1 year low of $26.80 and a 1 year high of $39.58. The stock has a market cap of $287.75 billion, a PE ratio of 11.19, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64. The business’s fifty day moving average is $37.87 and its 200-day moving average is $34.45. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.71 and a current ratio of 0.74.

AT&T (NYSE:T) last issued its quarterly earnings results on Monday, October 28th. The technology company reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.01. AT&T had a return on equity of 13.42% and a net margin of 8.97%. The company had revenue of $44.59 billion for the quarter, compared to analysts’ expectations of $45.45 billion. During the same period last year, the firm earned $0.90 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. Equities research analysts predict that AT&T will post 3.57 earnings per share for the current year.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Grimes & Company Inc. boosted its position in shares of AT&T by 0.9% in the second quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock worth $1,132,000 after buying an additional 294 shares during the period. Interactive Financial Advisors boosted its position in AT&T by 16.7% during the second quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after purchasing an additional 300 shares during the last quarter. D.B. Root & Company LLC boosted its position in AT&T by 0.9% during the third quarter. D.B. Root & Company LLC now owns 34,925 shares of the technology company’s stock valued at $1,321,000 after purchasing an additional 303 shares during the last quarter. Donald L. Hagan LLC boosted its position in AT&T by 1.5% during the third quarter. Donald L. Hagan LLC now owns 20,988 shares of the technology company’s stock valued at $793,000 after purchasing an additional 304 shares during the last quarter. Finally, Berkshire Money Management Inc. boosted its position in AT&T by 3.2% during the second quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after purchasing an additional 305 shares during the last quarter. 52.94% of the stock is owned by institutional investors and hedge funds.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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