Barclays Lowers AT&T (NYSE:T) Price Target to $30.00

AT&T (NYSE:T) had its price target cut by Barclays from $34.00 to $30.00 in a research report sent to investors on Monday, The Fly reports. They currently have an equal weight rating on the technology company’s stock.

Several other research analysts have also weighed in on the company. Moffett Nathanson raised AT&T from a sell rating to a neutral rating and upped their price target for the company from $23.00 to $28.00 in a research report on Thursday, October 7th. Royal Bank of Canada began coverage on AT&T in a research report on Thursday, July 22nd. They set a hold rating and a $30.00 price target on the stock. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $34.00 to $37.00 and gave the stock a buy rating in a research report on Monday, July 26th. Citigroup dropped their target price on AT&T from $34.00 to $32.00 and set a buy rating on the stock in a research report on Tuesday, August 31st. Finally, Loop Capital began coverage on AT&T in a research report on Monday, September 20th. They issued a hold rating and a $30.00 target price on the stock. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, AT&T presently has an average rating of Hold and an average target price of $30.69.

NYSE:T opened at $25.30 on Monday. The firm has a market capitalization of $180.64 billion, a price-to-earnings ratio of -81.61, a PEG ratio of 2.11 and a beta of 0.78. AT&T has a 1-year low of $25.01 and a 1-year high of $33.88. The company has a current ratio of 0.77, a quick ratio of 0.73 and a debt-to-equity ratio of 0.87. The business’s fifty day moving average price is $27.36 and its 200 day moving average price is $28.85.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. The firm had revenue of $44.05 billion for the quarter, compared to analyst estimates of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. AT&T’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.83 earnings per share. Equities analysts forecast that AT&T will post 3.33 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 11th will be issued a $0.52 dividend. The ex-dividend date of this dividend is Thursday, October 7th. This represents a $2.08 annualized dividend and a yield of 8.22%. AT&T’s dividend payout ratio (DPR) is 65.41%.

Institutional investors and hedge funds have recently modified their holdings of the company. OLD Mission Capital LLC acquired a new stake in AT&T during the 3rd quarter valued at $453,000. Camden National Bank bought a new position in AT&T in the 4th quarter valued at $278,000. E Fund Management Co. Ltd. bought a new position in AT&T in the 1st quarter valued at $380,000. Princeton Portfolio Strategies Group LLC boosted its position in AT&T by 9.6% in the 1st quarter. Princeton Portfolio Strategies Group LLC now owns 27,910 shares of the technology company’s stock valued at $845,000 after buying an additional 2,450 shares during the last quarter. Finally, Essex Investment Management Co. LLC boosted its position in AT&T by 487.7% in the 1st quarter. Essex Investment Management Co. LLC now owns 251,844 shares of the technology company’s stock valued at $7,623,000 after buying an additional 208,988 shares during the last quarter. 51.61% of the stock is owned by institutional investors and hedge funds.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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