AT&T (NYSE:T) Raised to “Outperform” at Royal Bank of Canada

AT&T (NYSE:T) was upgraded by investment analysts at Royal Bank of Canada from a “sector perform” rating to an “outperform” rating in a report issued on Monday, Marketbeat Ratings reports. The firm currently has a $26.00 price objective on the technology company’s stock, up from their prior price objective of $22.00. Royal Bank of Canada’s price target would indicate a potential upside of 17.12% from the company’s current price.

Several other research analysts have also recently weighed in on T. Barclays boosted their price target on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 4th. New Street Research raised shares of AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Evercore ISI increased their price objective on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research report on Thursday, October 24th. Finally, UBS Group lifted their target price on shares of AT&T from $25.00 to $30.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, thirteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $25.76.

AT&T Price Performance

T opened at $22.20 on Monday. AT&T has a 1 year low of $15.94 and a 1 year high of $24.03. The stock has a 50-day moving average price of $22.83 and a 200-day moving average price of $21.17. The firm has a market cap of $159.29 billion, a PE ratio of 18.05, a P/E/G ratio of 3.60 and a beta of 0.59. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business’s revenue was down .5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Sell-side analysts predict that AT&T will post 2.19 earnings per share for the current fiscal year.

Hedge Funds Weigh In On AT&T

A number of hedge funds have recently made changes to their positions in T. Strategic Financial Concepts LLC grew its position in shares of AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock valued at $25,000 after purchasing an additional 91,578 shares in the last quarter. Legacy Investment Solutions LLC purchased a new position in AT&T during the 3rd quarter valued at approximately $25,000. Ritter Daniher Financial Advisory LLC DE increased its stake in AT&T by 169.2% in the 3rd quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock worth $29,000 after acquiring an additional 841 shares during the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of AT&T during the 2nd quarter worth approximately $30,000. Finally, Reston Wealth Management LLC bought a new position in shares of AT&T during the 3rd quarter valued at approximately $35,000. Institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.