AT&T (NYSE:T) Stock Rating Lowered by HSBC

AT&T (NYSE:T) was downgraded by equities research analysts at HSBC from a “buy” rating to a “hold” rating in a report issued on Thursday, MarketBeat.com reports. They currently have a $30.00 target price on the technology company’s stock. HSBC’s price target would indicate a potential upside of 7.09% from the company’s previous close.

Several other analysts have also commented on the company. Morgan Stanley raised their price objective on AT&T from $31.00 to $32.00 and gave the company an “overweight” rating in a report on Wednesday, July 16th. Scotiabank increased their target price on AT&T from $29.50 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 11th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $28.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, April 24th. Royal Bank Of Canada upped their price objective on shares of AT&T from $28.00 to $30.00 and gave the stock an “outperform” rating in a research report on Thursday, April 24th. Finally, Wall Street Zen raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, AT&T presently has a consensus rating of “Moderate Buy” and an average target price of $29.66.

AT&T Stock Performance

T opened at $28.02 on Thursday. The firm has a fifty day moving average price of $27.81 and a 200 day moving average price of $26.62. AT&T has a 1 year low of $18.64 and a 1 year high of $29.19. The stock has a market cap of $201.58 billion, a P/E ratio of 15.92, a P/E/G ratio of 3.48 and a beta of 0.42. The company has a debt-to-equity ratio of 1.01, a current ratio of 0.81 and a quick ratio of 0.65.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 23rd. The technology company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.01. AT&T had a net margin of 10.29% and a return on equity of 13.36%. The business had revenue of $30.85 billion during the quarter, compared to the consensus estimate of $30.44 billion. During the same quarter in the prior year, the firm posted $0.51 earnings per share. The company’s revenue was up 3.4% compared to the same quarter last year. Equities research analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On AT&T

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Keystone Financial Group grew its stake in shares of AT&T by 196.3% in the fourth quarter. Keystone Financial Group now owns 216,980 shares of the technology company’s stock valued at $5,322,000 after buying an additional 143,744 shares in the last quarter. Capstone Wealth Management LLC purchased a new position in AT&T during the 1st quarter valued at about $201,000. World Investment Advisors grew its position in AT&T by 36.4% in the 4th quarter. World Investment Advisors now owns 237,477 shares of the technology company’s stock valued at $5,407,000 after acquiring an additional 63,359 shares in the last quarter. DigitalBridge Group Inc. grew its position in AT&T by 14.6% in the 4th quarter. DigitalBridge Group Inc. now owns 2,865,814 shares of the technology company’s stock valued at $65,255,000 after acquiring an additional 365,776 shares in the last quarter. Finally, Huber Capital Management LLC increased its stake in AT&T by 2.7% during the fourth quarter. Huber Capital Management LLC now owns 577,985 shares of the technology company’s stock worth $13,161,000 after purchasing an additional 15,000 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications and technology services. It operates through the Communications and Latin America segments. The Communications segment offers wireless, wireline telecom, and broadband services to businesses and consumers located in the US and businesses globally.