AT&T (NYSE:T) Research Coverage Started at Royal Bank of Canada

Research analysts at Royal Bank of Canada assumed coverage on shares of AT&T (NYSE:T) in a research note issued to investors on Thursday, TipRanks reports. The brokerage set a “hold” rating and a $30.00 price target on the technology company’s stock. Royal Bank of Canada’s price objective suggests a potential upside of 7.53% from the stock’s previous close.

A number of other equities analysts have also recently commented on T. Redburn Partners assumed coverage on AT&T in a report on Friday, June 25th. They set a “sell” rating and a $23.00 target price for the company. Barclays increased their target price on AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Tigress Financial reissued a “buy” rating and set a $36.00 target price on shares of AT&T in a report on Friday, July 9th. Raymond James upped their price target on AT&T from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, April 23rd. Finally, Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $31.00 to $34.00 in a research report on Wednesday, April 28th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $31.39.

NYSE T remained flat at $$27.90 during trading hours on Thursday. The company had a trading volume of 798,639 shares, compared to its average volume of 30,837,840. The company has a market capitalization of $199.21 billion, a PE ratio of -79.71, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79. AT&T has a 12 month low of $26.35 and a 12 month high of $33.88. The company has a quick ratio of 0.78, a current ratio of 0.82 and a debt-to-equity ratio of 0.88. The stock’s fifty day simple moving average is $29.14.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.08. The company had revenue of $43.90 billion during the quarter, compared to analysts’ expectations of $42.69 billion. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. AT&T’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.84 EPS. As a group, analysts anticipate that AT&T will post 3.17 earnings per share for the current year.

In other news, CEO John T. Stankey purchased 34,614 shares of the stock in a transaction dated Wednesday, May 19th. The stock was acquired at an average cost of $28.81 per share, for a total transaction of $997,229.34. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Pascal Desroches purchased 3,056 shares of the stock in a transaction dated Wednesday, May 19th. The shares were purchased at an average price of $29.06 per share, with a total value of $88,807.36. Following the completion of the transaction, the chief financial officer now owns 173,871 shares of the company’s stock, valued at $5,052,691.26. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cornerstone Wealth Group LLC raised its stake in shares of AT&T by 7.8% in the second quarter. Cornerstone Wealth Group LLC now owns 46,019 shares of the technology company’s stock valued at $1,279,000 after acquiring an additional 3,337 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of AT&T by 5.0% in the second quarter. Integrated Investment Consultants LLC now owns 21,837 shares of the technology company’s stock valued at $628,000 after acquiring an additional 1,040 shares in the last quarter. Jeppson Wealth Management LLC raised its stake in shares of AT&T by 11.9% in the second quarter. Jeppson Wealth Management LLC now owns 94,851 shares of the technology company’s stock valued at $2,729,000 after acquiring an additional 10,122 shares in the last quarter. Northstar Advisory Group LLC raised its stake in shares of AT&T by 2.3% in the second quarter. Northstar Advisory Group LLC now owns 17,661 shares of the technology company’s stock valued at $508,000 after acquiring an additional 401 shares in the last quarter. Finally, Alpha Cubed Investments LLC raised its stake in shares of AT&T by 39.1% in the second quarter. Alpha Cubed Investments LLC now owns 35,225 shares of the technology company’s stock valued at $1,014,000 after acquiring an additional 9,899 shares in the last quarter. Institutional investors and hedge funds own 50.40% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

Further Reading: What is a Call Option?

Analyst Recommendations for AT&T (NYSE:T)

Receive News & Ratings for AT&T Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for AT&T and related companies with MarketBeat.com's FREE daily email newsletter.