ValuEngine Upgrades AT&T (NYSE:T) to “Sell”

AT&T (NYSE:T) was upgraded by equities researchers at ValuEngine from a “strong sell” rating to a “sell” rating in a report released on Wednesday, March 20th, ValuEngine reports.

T has been the topic of several other reports. Bank of America reissued a “buy” rating and set a $37.00 price target on shares of AT&T in a research report on Friday, December 14th. Cowen reissued a “buy” rating and set a $35.00 price target on shares of AT&T in a research report on Thursday, January 31st. Raymond James raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Friday, March 15th. They noted that the move was a valuation call. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and set a $31.82 price objective on the stock in a research note on Sunday, December 9th. Finally, Citigroup upgraded shares of AT&T from a “neutral” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and twelve have issued a buy rating to the company. AT&T presently has an average rating of “Hold” and a consensus target price of $36.26.

Shares of NYSE T traded down $0.18 during midday trading on Wednesday, reaching $32.02. 18,778,652 shares of the stock were exchanged, compared to its average volume of 31,518,027. The stock has a market cap of $197.68 billion, a price-to-earnings ratio of 9.10, a P/E/G ratio of 1.36 and a beta of 0.59. AT&T has a 12 month low of $26.80 and a 12 month high of $35.82. The company has a quick ratio of 0.80, a current ratio of 0.80 and a debt-to-equity ratio of 0.86.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, January 30th. The technology company reported $0.86 EPS for the quarter, meeting the consensus estimate of $0.86. The business had revenue of $47.99 billion for the quarter, compared to analysts’ expectations of $48.50 billion. AT&T had a net margin of 11.34% and a return on equity of 13.47%. The firm’s revenue was up 15.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.78 EPS. On average, research analysts anticipate that AT&T will post 3.59 EPS for the current fiscal year.

In other AT&T news, CEO John T. Stankey sold 3,748 shares of the business’s stock in a transaction dated Thursday, January 31st. The shares were sold at an average price of $29.84, for a total value of $111,840.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.

Several institutional investors have recently modified their holdings of T. Vanguard Group Inc. increased its position in AT&T by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 531,005,481 shares of the technology company’s stock valued at $17,831,164,000 after acquiring an additional 3,379,045 shares during the period. Vanguard Group Inc increased its position in AT&T by 0.6% in the 3rd quarter. Vanguard Group Inc now owns 531,005,481 shares of the technology company’s stock valued at $17,831,164,000 after acquiring an additional 3,379,045 shares during the period. BlackRock Inc. increased its position in AT&T by 4.0% in the 4th quarter. BlackRock Inc. now owns 454,818,786 shares of the technology company’s stock valued at $12,980,526,000 after acquiring an additional 17,703,030 shares during the period. Oregon Public Employees Retirement Fund increased its position in AT&T by 6,759.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 96,680,677 shares of the technology company’s stock valued at $3,388,000 after acquiring an additional 95,271,251 shares during the period. Finally, Geode Capital Management LLC increased its position in AT&T by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 92,792,834 shares of the technology company’s stock valued at $2,643,990,000 after acquiring an additional 7,017,620 shares during the period. 64.59% of the stock is owned by institutional investors.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Analyst Recommendations for AT&T (NYSE:T)

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