Barclays Increases AT&T (NYSE:T) Price Target to $24.00

AT&T (NYSE:T) had its target price hoisted by Barclays from $22.00 to $24.00 in a report issued on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the technology company’s stock. Barclays‘s price objective suggests a potential upside of 9.89% from the company’s current price.

Other equities research analysts also recently issued research reports about the company. Evercore ISI increased their target price on AT&T from $18.00 to $19.00 and gave the stock an “in-line” rating in a research report on Thursday, July 25th. Hsbc Global Res upgraded AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. The Goldman Sachs Group assumed coverage on AT&T in a research report on Monday, July 1st. They set a “buy” rating and a $22.00 price target on the stock. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a report on Monday, September 16th. Finally, Tigress Financial boosted their price objective on shares of AT&T from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, September 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has an average rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Trading Down 1.6 %

NYSE:T opened at $21.84 on Thursday. AT&T has a 12 month low of $14.74 and a 12 month high of $22.58. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The firm’s 50 day moving average is $21.15 and its 200 day moving average is $19.08. The stock has a market capitalization of $156.60 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60.

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, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business’s revenue was down .5% on a year-over-year basis. During the same period in the previous year, the company posted $0.64 earnings per share. Sell-side analysts expect that AT&T will post 2.22 earnings per share for the current year.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently added to or reduced their stakes in the company. Davidson Kempner Capital Management LP bought a new stake in shares of AT&T in the 2nd quarter worth approximately $23,888,000. Talbot Financial LLC purchased a new stake in AT&T during the third quarter valued at about $7,438,000. Mackenzie Financial Corp grew its stake in shares of AT&T by 12.2% during the second quarter. Mackenzie Financial Corp now owns 2,641,856 shares of the technology company’s stock valued at $50,486,000 after buying an additional 288,093 shares during the last quarter. DRW Securities LLC increased its holdings in shares of AT&T by 642.2% in the second quarter. DRW Securities LLC now owns 104,309 shares of the technology company’s stock worth $1,997,000 after buying an additional 90,255 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted its stake in shares of AT&T by 4.3% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 1,037,529 shares of the technology company’s stock valued at $19,827,000 after acquiring an additional 43,062 shares during the last quarter. Institutional investors own 57.10% of the company’s stock.

About AT&T

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.