AT&T (T) Stock Rating Upgraded by JPMorgan Chase & Co.

AT&T (NYSE:T) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday, Marketbeat.com reports. The firm presently has a $38.00 price objective on the technology company’s stock. JPMorgan Chase & Co.’s price target would indicate a potential upside of 23.66% from the stock’s previous close.

T has been the topic of a number of other reports. Bank of America set a $37.00 price objective on shares of AT&T and gave the company a “buy” rating in a research note on Tuesday, October 23rd. ValuEngine upgraded shares of AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, September 12th. Macquarie restated a “buy” rating and issued a $35.00 price objective on shares of AT&T in a research note on Wednesday, September 12th. Wells Fargo & Co lowered shares of AT&T from an “outperform” rating to a “market perform” rating and set a $40.00 price objective on the stock. in a research note on Wednesday, August 22nd. Finally, Robert W. Baird dropped their price objective on shares of AT&T from $38.00 to $35.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and an average target price of $36.42.

Shares of NYSE:T opened at $30.73 on Monday. AT&T has a 12 month low of $28.85 and a 12 month high of $39.33. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. The firm has a market cap of $191.78 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.72 and a beta of 0.44.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, October 24th. The technology company reported $0.90 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.94 by ($0.04). AT&T had a return on equity of 13.61% and a net margin of 20.40%. The company had revenue of $45.74 billion for the quarter, compared to analyst estimates of $45.73 billion. During the same quarter in the prior year, the business earned $0.74 earnings per share. AT&T’s revenue was up 15.3% compared to the same quarter last year. Equities analysts expect that AT&T will post 3.51 EPS for the current fiscal year.

In other news, Director Michael B. Mccallister purchased 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The shares were acquired at an average cost of $29.14 per share, for a total transaction of $116,560.00. Following the completion of the purchase, the director now directly owns 7,361 shares in the company, valued at approximately $214,499.54. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.09% of the company’s stock.

Institutional investors have recently modified their holdings of the company. Great Lakes Advisors LLC lifted its holdings in shares of AT&T by 2.2% in the third quarter. Great Lakes Advisors LLC now owns 68,734 shares of the technology company’s stock valued at $2,308,000 after purchasing an additional 1,479 shares in the last quarter. Ibex Wealth Advisors lifted its holdings in shares of AT&T by 0.8% in the third quarter. Ibex Wealth Advisors now owns 198,405 shares of the technology company’s stock valued at $6,644,000 after purchasing an additional 1,493 shares in the last quarter. SSI Investment Management Inc. lifted its holdings in shares of AT&T by 10.0% in the second quarter. SSI Investment Management Inc. now owns 17,160 shares of the technology company’s stock valued at $549,000 after purchasing an additional 1,553 shares in the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. lifted its holdings in shares of AT&T by 1.7% in the second quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 95,276 shares of the technology company’s stock valued at $3,059,000 after purchasing an additional 1,553 shares in the last quarter. Finally, Tradewinds Capital Management LLC lifted its holdings in shares of AT&T by 27.0% in the second quarter. Tradewinds Capital Management LLC now owns 7,332 shares of the technology company’s stock valued at $235,000 after purchasing an additional 1,560 shares in the last quarter. Institutional investors and hedge funds own 63.61% of the company’s stock.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

Further Reading: What Does Beta Mean In Stock Selection

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.

Leave a Reply