AT&T (NYSE:T) Now Covered by Loop Capital

Equities research analysts at Loop Capital began coverage on shares of AT&T (NYSE:T) in a report issued on Monday, Price Targets.com reports. The brokerage set a “hold” rating and a $30.00 price target on the technology company’s stock. Loop Capital’s price objective suggests a potential upside of 11.28% from the stock’s previous close.

Several other research analysts have also recently issued reports on T. Tigress Financial reiterated a “buy” rating and issued a $36.00 price objective on shares of AT&T in a research report on Friday, July 9th. Deutsche Bank Aktiengesellschaft upped their target price on AT&T from $34.00 to $37.00 and gave the company a “buy” rating in a report on Monday, July 26th. Morgan Stanley lowered AT&T to an “equal weight” rating and set a $29.00 target price on the stock. in a report on Friday, July 16th. Citigroup lowered their target price on AT&T from $34.00 to $32.00 and set a “buy” rating on the stock in a report on Tuesday, August 31st. Finally, Royal Bank of Canada initiated coverage on AT&T in a research note on Thursday, July 22nd. They set a “hold” rating and a $30.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $31.10.

NYSE T opened at $26.96 on Monday. AT&T has a 52 week low of $26.35 and a 52 week high of $33.88. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87. The business’s fifty day simple moving average is $27.75 and its 200-day simple moving average is $29.19. The firm has a market cap of $192.49 billion, a PE ratio of -86.96, a P/E/G ratio of 2.11 and a beta of 0.78.

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

Several hedge funds have recently bought and sold shares of the company. Activest Wealth Management acquired a new stake in AT&T during the 2nd quarter worth $35,000. Virtu Financial LLC bought a new position in AT&T during the 2nd quarter worth about $817,000. Sunflower Bank N.A. bought a new position in shares of AT&T in the 2nd quarter valued at about $980,000. Punch & Associates Investment Management Inc. bought a new position in AT&T during the second quarter worth about $4,313,000. Finally, J.P. Marvel Investment Advisors LLC grew its holdings in AT&T by 3.0% during the second quarter. J.P. Marvel Investment Advisors LLC now owns 145,932 shares of the technology company’s stock worth $4,200,000 after purchasing an additional 4,250 shares during the period. 51.61% of the stock is currently owned by institutional investors.

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.

Read More: Hold Rating

Analyst Recommendations for AT&T (NYSE:T)

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