AT&T (NYSE:T) Stock Price Expected to Rise, Oppenheimer Analyst Says

AT&T (NYSE:T) had its price objective upped by equities research analysts at Oppenheimer from $24.00 to $27.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “outperform” rating on the technology company’s stock. Oppenheimer’s price objective points to a potential upside of 13.68% from the stock’s previous close.

A number of other research analysts have also issued reports on the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. Tigress Financial increased their target price on AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, September 27th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company decreased their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Finally, Moffett Nathanson raised their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.93.

AT&T Price Performance

Shares of NYSE T opened at $23.75 on Wednesday. The stock has a market capitalization of $170.41 billion, a price-to-earnings ratio of 19.31, a PEG ratio of 3.41 and a beta of 0.59. AT&T has a 12 month low of $15.94 and a 12 month high of $24.03. The firm’s 50 day simple moving average is $22.24 and its 200-day simple moving average is $20.25. 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 quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The business had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the company earned $0.64 EPS. The business’s revenue was down .5% on a year-over-year basis. Analysts expect that AT&T will post 2.22 EPS for the current year.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently modified their holdings of T. Strategic Financial Concepts LLC increased its position in shares of AT&T by 227.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after purchasing an additional 91,578 shares during the last quarter. Legacy Investment Solutions LLC acquired a new stake in shares of AT&T during the 3rd quarter worth about $25,000. Riggs Asset Managment Co. Inc. increased its position in shares of AT&T by 356.5% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the last quarter. Ritter Daniher Financial Advisory LLC DE grew its position 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 valued at $29,000 after acquiring an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC grew its position in AT&T by 107.5% in the 2nd quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after acquiring an additional 807 shares in the last quarter. 57.10% of the stock is owned by institutional investors and hedge funds.

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.