Royal Bank Of Canada Lowers AT&T (NYSE:T) Price Target to $30.00

AT&T (NYSE:T) had its target price dropped by investment analysts at Royal Bank Of Canada from $31.00 to $30.00 in a research note issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the technology company’s stock. Royal Bank Of Canada’s target price points to a potential upside of 19.21% from the company’s current price.

Several other brokerages also recently issued reports on T. HSBC downgraded AT&T from a “buy” rating to a “hold” rating and set a $30.00 price objective for the company. in a research report on Thursday, July 24th. Citigroup restated a “buy” rating on shares of AT&T in a research report on Tuesday, August 26th. Scotiabank set a $30.25 price objective on AT&T and gave the stock a “sector perform” rating in a research report on Monday, October 6th. Bank of America began coverage on AT&T in a research report on Monday, July 7th. They set a “buy” rating and a $32.00 price objective for the company. Finally, The Goldman Sachs Group began coverage on AT&T in a report on Tuesday, September 2nd. They issued a “buy” rating and a $32.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, sixteen have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $30.67.

AT&T Price Performance

T stock opened at $25.17 on Thursday. 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 12-month low of $21.38 and a 12-month high of $29.79. The company has a market cap of $179.95 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 1.99 and a beta of 0.42. The firm has a 50 day moving average of $27.97 and a 200-day moving average of $27.75.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 22nd. The technology company reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The firm had revenue of $30.71 billion during the quarter, compared to the consensus estimate of $30.85 billion. During the same period in the previous year, the firm posted $0.60 EPS. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. As a group, equities analysts expect that AT&T will post 2.14 EPS for the current fiscal year.

Institutional Trading of AT&T

Several institutional investors have recently made changes to their positions in T. Brighton Jones LLC grew its stake in shares of AT&T by 26.5% during the 4th quarter. Brighton Jones LLC now owns 48,579 shares of the technology company’s stock valued at $1,106,000 after buying an additional 10,188 shares during the period. GAMMA Investing LLC grew its stake in shares of AT&T by 15.5% during the 1st quarter. GAMMA Investing LLC now owns 165,258 shares of the technology company’s stock valued at $4,673,000 after buying an additional 22,195 shares during the period. AssuredPartners Investment Advisors LLC purchased a new stake in shares of AT&T during the 1st quarter valued at $233,000. Global Assets Advisory LLC purchased a new stake in shares of AT&T during the 1st quarter valued at $662,000. Finally, Spire Wealth Management grew its stake in shares of AT&T by 71.7% during the 1st quarter. Spire Wealth Management now owns 79,308 shares of the technology company’s stock valued at $2,243,000 after buying an additional 33,123 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.