Cowen Raises AT&T (T) Price Target to $36.00

AT&T (NYSE:T) had its price objective lifted by stock analysts at Cowen from $34.00 to $36.00 in a research note issued on Sunday. Cowen’s price target would suggest a potential upside of 19.44% from the company’s previous close.

Several other equities research analysts have also weighed in on the company. UBS Group raised AT&T from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $33.00 to $38.00 in a report on Friday, September 21st. They noted that the move was a valuation call. Macquarie reissued a “buy” rating and issued a $35.00 price objective on shares of AT&T in a report on Wednesday, September 12th. Bank of America set a $37.00 price objective on AT&T and gave the stock a “buy” rating in a report on Tuesday, October 23rd. Tigress Financial raised AT&T from a “neutral” rating to a “buy” rating in a report on Monday, October 22nd. Finally, Argus reissued a “buy” rating and issued a $48.00 price objective on shares of AT&T in a report on Friday, October 26th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. AT&T presently has a consensus rating of “Hold” and an average price target of $36.15.

NYSE:T traded down $0.39 during trading hours on Friday, hitting $30.14. 34,449,754 shares of the company traded hands, compared to its average volume of 32,904,400. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.91. AT&T has a one year low of $28.85 and a one year high of $39.33. The stock has a market cap of $185.03 billion, a PE ratio of 9.88, a price-to-earnings-growth ratio of 1.66 and a beta of 0.44.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 24th. The technology company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.94 by ($0.04). AT&T had a net margin of 20.40% and a return on equity of 13.61%. The business had revenue of $45.74 billion for the quarter, compared to analysts’ expectations of $45.73 billion. During the same period in the prior year, the business earned $0.74 earnings per share. The company’s revenue for the quarter was up 15.3% compared to the same quarter last year. On average, sell-side analysts forecast that AT&T will post 3.51 earnings per share for the current fiscal year.

In other AT&T news, Director Michael B. Mccallister purchased 4,000 shares of the company’s stock in a transaction dated Friday, October 26th. The stock was purchased at an average price of $29.14 per share, for a total transaction of $116,560.00. Following the transaction, the director now owns 7,361 shares in the company, valued at approximately $214,499.54. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.09% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. Commonwealth Equity Services LLC lifted its position in shares of AT&T by 0.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 3,870,918 shares of the technology company’s stock valued at $137,998,000 after acquiring an additional 18,073 shares during the period. Rampart Investment Management Company LLC increased its stake in shares of AT&T by 48.1% during the 1st quarter. Rampart Investment Management Company LLC now owns 122,519 shares of the technology company’s stock worth $4,368,000 after purchasing an additional 39,800 shares in the last quarter. Nuveen Asset Management LLC increased its stake in shares of AT&T by 35.0% during the 1st quarter. Nuveen Asset Management LLC now owns 2,216,470 shares of the technology company’s stock worth $79,017,000 after purchasing an additional 574,894 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of AT&T by 192.6% during the 1st quarter. SRS Capital Advisors Inc. now owns 22,257 shares of the technology company’s stock worth $793,000 after purchasing an additional 14,650 shares in the last quarter. Finally, Westwood Holdings Group Inc. increased its stake in shares of AT&T by 4.9% during the 1st quarter. Westwood Holdings Group Inc. now owns 4,974,331 shares of the technology company’s stock worth $177,334,000 after purchasing an additional 231,247 shares in the last quarter. Institutional investors own 63.61% of the company’s stock.

About AT&T

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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