Barclays Issues Pessimistic Forecast for AT&T (NYSE:T) Stock Price

AT&T (NYSE:T) had its price objective cut by investment analysts at Barclays from $30.00 to $28.00 in a report released on Thursday, MarketBeat Ratings reports. The brokerage presently has an “equal weight” rating on the technology company’s stock. Barclays‘s target price suggests a potential upside of 11.26% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Weiss Ratings reissued a “buy (b)” rating on shares of AT&T in a research note on Wednesday, October 8th. Citigroup reissued a “buy” rating on shares of AT&T in a research note on Tuesday, August 26th. JPMorgan Chase & Co. boosted their target price on AT&T from $31.00 to $33.00 and gave the company an “overweight” rating in a research note on Thursday, July 24th. Raymond James Financial restated a “strong-buy” rating and set a $33.00 price target (up from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Finally, The Goldman Sachs Group started coverage on AT&T in a research report on Tuesday, September 2nd. They set a “buy” rating and a $32.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, AT&T currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Stock Performance

Shares of NYSE T opened at $25.17 on Thursday. The stock has a market cap of $179.95 billion, a price-to-earnings ratio of 8.17, a P/E/G ratio of 1.99 and a beta of 0.42. The company has a current ratio of 1.01, a quick ratio of 0.76 and a debt-to-equity ratio of 1.01. AT&T has a 1-year low of $21.38 and a 1-year high of $29.79. The stock’s 50-day moving average is $27.97 and its 200 day moving average is $27.75.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The company had revenue of $30.71 billion for the quarter, compared to analysts’ expectations of $30.85 billion. AT&T had a return on equity of 12.72% and a net margin of 17.87%.AT&T’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period last year, the firm posted $0.60 EPS. On average, sell-side analysts anticipate that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Trading of AT&T

A number of hedge funds and other institutional investors have recently bought and sold shares of T. Stone House Investment Management LLC purchased a new stake in AT&T in the first quarter worth about $25,000. Front Row Advisors LLC bought a new position in shares of AT&T in the second quarter worth about $25,000. O Brien Wealth Partners LLC bought a new position in shares of AT&T in the second quarter worth about $26,000. Hager Investment Management Services LLC boosted its stake in shares of AT&T by 182.1% in the first quarter. Hager Investment Management Services LLC now owns 993 shares of the technology company’s stock worth $28,000 after acquiring an additional 641 shares during the period. Finally, Kennebec Savings Bank boosted its stake in shares of AT&T by 412.1% in the second quarter. Kennebec Savings Bank now owns 973 shares of the technology company’s stock worth $28,000 after acquiring an additional 783 shares during the period. Hedge funds and other institutional investors own 57.10% of the company’s stock.

About AT&T

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.