AT&T (NYSE:T) Rating Increased to Strong-Buy at Hsbc Global Res

AT&T (NYSE:T) was upgraded by analysts at Hsbc Global Res to a “strong-buy” rating in a note issued to investors on Tuesday, Zacks.com reports.

A number of other equities research analysts have also weighed in on T. Oppenheimer lifted their price objective on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday, July 25th. Royal Bank of Canada upped their price objective on shares of AT&T from $18.00 to $19.00 and gave the stock a “sector perform” rating in a report on Thursday, July 25th. Tigress Financial raised their target price on shares of AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. Barclays increased their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an “overweight” rating in a research note on Thursday, July 25th. Finally, Scotiabank cut AT&T from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.38.

AT&T Stock Up 0.3 %

Shares of AT&T stock opened at $22.20 on Tuesday. The company’s 50 day moving average price is $20.35 and its 200-day moving average price is $18.60. AT&T has a 52-week low of $14.12 and a 52-week high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $159.14 billion, a price-to-earnings ratio of 11.93, a P/E/G ratio of 3.75 and a beta of 0.59.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.57. The firm had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company’s revenue for the quarter was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.63 earnings per share. Equities research analysts forecast that AT&T will post 2.22 EPS for the current year.

Institutional Investors Weigh In On AT&T

Several institutional investors and hedge funds have recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. raised its stake in 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 valued at $27,000 after buying an additional 1,116 shares during the last quarter. Pineridge Advisors LLC bought a new stake in shares of AT&T in the fourth quarter worth $25,000. Frank Rimerman Advisors LLC purchased a new stake in AT&T during the fourth quarter valued at $25,000. American Capital Advisory LLC lifted its holdings in AT&T by 107.5% in the second 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 during the period. Finally, Altshuler Shaham Ltd purchased a new position in AT&T in the second quarter worth about $30,000. 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.