Evercore ISI Increases AT&T (NYSE:T) Price Target to $27.00

AT&T (NYSE:T) had its price objective lifted by stock analysts at Evercore ISI from $25.00 to $27.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “in-line” rating on the technology company’s stock. Evercore ISI’s target price indicates a potential upside of 0.75% from the company’s previous close.

Other analysts have also issued research reports about the company. Royal Bank of Canada increased their price objective on AT&T from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 19th. StockNews.com cut shares of AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 17th. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Thursday, January 16th. Sanford C. Bernstein increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock an “outperform” rating in a report on Tuesday, January 28th. Finally, DZ Bank upgraded AT&T from a “hold” rating to a “buy” rating and set a $27.00 price target on the stock in a report on Wednesday, January 29th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.62.

AT&T Price Performance

Shares of NYSE:T opened at $26.80 on Thursday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.00. The stock has a market cap of $192.38 billion, a PE ratio of 17.99, a PEG ratio of 3.00 and a beta of 0.42. The company’s fifty day moving average is $26.96 and its 200 day moving average is $24.31. AT&T has a 52 week low of $16.39 and a 52 week high of $29.03.

AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, April 23rd. The technology company reported $0.51 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.01). The company had revenue of $30.63 billion during the quarter, compared to analysts’ expectations of $30.39 billion. AT&T had a return on equity of 13.97% and a net margin of 8.95%. Research analysts anticipate that AT&T will post 2.14 earnings per share for the current year.

Institutional Investors Weigh In On AT&T

A number of institutional investors have recently modified their holdings of T. Norges Bank bought a new stake in shares of AT&T during the fourth quarter valued at approximately $1,858,418,000. GQG Partners LLC increased its holdings in shares of AT&T by 37.3% in the 4th quarter. GQG Partners LLC now owns 96,779,385 shares of the technology company’s stock worth $2,203,667,000 after purchasing an additional 26,280,866 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of AT&T by 31.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 53,432,827 shares of the technology company’s stock worth $1,216,665,000 after purchasing an additional 12,881,578 shares in the last quarter. Northern Trust Corp raised its stake in shares of AT&T by 16.3% in the fourth quarter. Northern Trust Corp now owns 78,148,354 shares of the technology company’s stock worth $1,779,438,000 after purchasing an additional 10,945,679 shares during the last quarter. Finally, Assetmark Inc. lifted its holdings in shares of AT&T by 4,986.1% during the fourth quarter. Assetmark Inc. now owns 9,913,960 shares of the technology company’s stock valued at $225,741,000 after purchasing an additional 9,719,036 shares in 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 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.