AT&T’s (T) “Sector Perform” Rating Reiterated at Royal Bank of Canada

AT&T (NYSE:T)‘s stock had its “sector perform” rating reiterated by equities research analysts at Royal Bank of Canada in a report released on Wednesday, MarketBeat.com reports. They currently have a $18.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential downside of 4.56% from the stock’s previous close.

Other analysts have also issued reports about the company. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a report on Friday, May 3rd. The Goldman Sachs Group began coverage on AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 target price on the stock. Scotiabank boosted their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday, April 25th. UBS Group restated a “buy” rating and issued a $24.00 target price on shares of AT&T in a research note on Tuesday, June 18th. Finally, BNP Paribas upgraded AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.85.

AT&T Stock Performance

Shares of AT&T stock opened at $18.86 on Wednesday. The business’s fifty day simple moving average is $17.94 and its 200 day simple moving average is $17.31. The firm has a market capitalization of $135.23 billion, a P/E ratio of 10.14, a price-to-earnings-growth ratio of 3.55 and a beta of 0.58. AT&T has a 12 month low of $13.43 and a 12 month high of $19.32. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the company posted $0.60 earnings per share. As a group, analysts anticipate that AT&T will post 2.23 EPS for the current year.

Hedge Funds Weigh In On AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. CHICAGO TRUST Co NA lifted its stake in AT&T by 2.4% during the second quarter. CHICAGO TRUST Co NA now owns 56,428 shares of the technology company’s stock worth $1,078,000 after purchasing an additional 1,320 shares during the last quarter. OLD National Bancorp IN lifted its stake in AT&T by 1.5% during the second quarter. OLD National Bancorp IN now owns 1,753,729 shares of the technology company’s stock worth $33,514,000 after purchasing an additional 26,044 shares during the last quarter. U.S. Capital Wealth Advisors LLC lifted its stake in AT&T by 5.0% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 697,760 shares of the technology company’s stock worth $13,334,000 after purchasing an additional 33,092 shares during the last quarter. Kaydan Wealth Management Inc. bought a new stake in AT&T during the second quarter worth about $326,000. Finally, Csenge Advisory Group lifted its stake in AT&T by 0.7% during the second quarter. Csenge Advisory Group now owns 119,725 shares of the technology company’s stock worth $2,288,000 after purchasing an additional 876 shares during the last quarter. 57.10% of the stock is currently owned by hedge funds and other institutional investors.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.