AT&T (NYSE:T) Price Target Increased to $22.50 by Analysts at Scotiabank

AT&T (NYSE:T) had its price target raised by investment analysts at Scotiabank from $22.00 to $22.50 in a note issued to investors on Thursday, Benzinga reports. The firm currently has a “sector outperform” rating on the technology company’s stock. Scotiabank’s target price suggests a potential upside of 35.95% from the stock’s previous close.

T has been the topic of a number of other research reports. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays boosted their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research note on Thursday, April 11th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.81.

AT&T Price Performance

Shares of NYSE T traded down $0.26 during midday trading on Thursday, reaching $16.55. The company’s stock had a trading volume of 19,930,663 shares, compared to its average volume of 39,088,613. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The business’s 50 day moving average price is $16.98 and its two-hundred day moving average price is $16.54. The company has a market cap of $118.38 billion, a P/E ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. On average, analysts forecast that AT&T will post 2.21 EPS for the current fiscal year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank grew its position in AT&T by 2.4% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,679,328 shares of the technology company’s stock worth $64,756,000 after purchasing an additional 87,183 shares in the last quarter. L.M. Kohn & Company grew its position in AT&T by 6.5% in the 1st quarter. L.M. Kohn & Company now owns 17,609 shares of the technology company’s stock worth $310,000 after purchasing an additional 1,077 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in AT&T by 9.7% in the 1st quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 1,445,170 shares of the technology company’s stock worth $25,435,000 after purchasing an additional 127,700 shares in the last quarter. Aaron Wealth Advisors LLC grew its position in shares of AT&T by 30.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 22,449 shares of the technology company’s stock valued at $395,000 after acquiring an additional 5,282 shares during the period. Finally, Summit Financial LLC grew its position in shares of AT&T by 8.6% during the 1st quarter. Summit Financial LLC now owns 58,925 shares of the technology company’s stock valued at $1,037,000 after acquiring an additional 4,678 shares during the period. 57.10% of the stock is owned by institutional investors.

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.