AT&T (NYSE:T) Lowered to “Strong Sell” Rating by Arete Research

AT&T (NYSE:T) was downgraded by stock analysts at Arete Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday,Zacks.com reports.

Several other brokerages have also recently issued reports on T. Raymond James Financial reissued a “strong-buy” rating and set a $33.00 price target (up previously from $31.00) on shares of AT&T in a research report on Thursday, September 18th. Scotiabank set a $30.25 target price on shares of AT&T and gave the stock a “sector perform” rating in a research note on Monday, October 6th. Wolfe Research cut shares of AT&T from an “outperform” rating to a “peer perform” rating in a research report on Monday, December 15th. Cowen reaffirmed a “hold” rating on shares of AT&T in a research report on Thursday, October 23rd. Finally, Barclays decreased their target price on AT&T from $30.00 to $28.00 and set an “equal weight” rating for the company in a report on Thursday, October 23rd. One equities research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $29.45.

AT&T Stock Down 1.5%

NYSE:T opened at $24.34 on Tuesday. The company has a quick ratio of 0.96, a current ratio of 1.01 and a debt-to-equity ratio of 1.01. The stock’s fifty day moving average is $24.96 and its two-hundred day moving average is $26.85. AT&T has a 52 week low of $21.38 and a 52 week high of $29.79. The stock has a market capitalization of $172.53 billion, a price-to-earnings ratio of 7.90, a price-to-earnings-growth ratio of 1.32 and a beta of 0.39.

AT&T (NYSE:T) last issued 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. AT&T had a return on equity of 12.72% and a net margin of 17.87%.The business had revenue of $30.71 billion during the quarter, compared to analysts’ expectations of $30.85 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The company’s revenue was up 1.7% on a year-over-year basis. Research analysts anticipate that AT&T will post 2.14 EPS for the current year.

Institutional Trading of AT&T

Institutional investors have recently bought and sold shares of the business. J. L. Bainbridge & Co. Inc. raised its position in AT&T by 1.7% during the 2nd quarter. J. L. Bainbridge & Co. Inc. now owns 21,253 shares of the technology company’s stock worth $615,000 after purchasing an additional 355 shares during the last quarter. Financial & Tax Architects LLC raised its position in shares of AT&T by 4.9% during the second quarter. Financial & Tax Architects LLC now owns 7,588 shares of the technology company’s stock worth $220,000 after acquiring an additional 356 shares during the last quarter. Roberts Glore & Co. Inc. IL lifted its stake in shares of AT&T by 2.0% in the second quarter. Roberts Glore & Co. Inc. IL now owns 18,386 shares of the technology company’s stock worth $532,000 after acquiring an additional 357 shares during the period. Investment Partners LTD. boosted its holdings in AT&T by 3.5% in the second quarter. Investment Partners LTD. now owns 10,464 shares of the technology company’s stock valued at $303,000 after acquiring an additional 357 shares during the last quarter. Finally, Parcion Private Wealth LLC boosted its holdings in AT&T by 2.5% in the second quarter. Parcion Private Wealth LLC now owns 14,910 shares of the technology company’s stock valued at $431,000 after acquiring an additional 364 shares during the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T Inc is a global telecommunications company that provides a broad range of communications and digital entertainment services. Its core activities include consumer and business wireless services, broadband and fiber internet, and network infrastructure. The company operates branded wireless services through AT&T Mobility and deploys fixed-line and fiber networks to deliver high-speed internet and related home services.

AT&T’s product and service portfolio spans mobile voice and data plans, smartphones and device sales, home internet (including fiber-to-the-home where available), and managed connectivity solutions for enterprise customers.