Zacks Investment Research upgraded shares of AT&T Inc. (NYSE:T) from a sell rating to a hold rating in a report issued on Wednesday.
According to Zacks, “AT&T posted weak third-quarter 2017 financial results with 44.8% year-over-year fall in the net gain of postpaid wireless subscribers. Also, AT&T lost 89,000 video customers in the reported quarter due to cord-cutting. Despite such headwinds, we appreciate AT&T’s 5G technology related trials and deployment plans. AT&T’s NetBond is gearing up to offer multiple cloud-to-cloud connections. AT&T is exploring a strategic option to sell a major part of its Latin American pay-TV operations. The AT&T-Time Warner pending deal awaits nod from Brazil and United States. However, AT&T continues to struggle in the competitive and saturated wireless U.S. market. Loss in access lines, operating expenses, marketing costs associated with attractive discounts, regulatory norms and union issues are other major risks. Over the past three months, the stock price declined 12.0% as against the industry's loss of 8.7%.”
T has been the subject of several other reports. SunTrust Banks, Inc. reissued a hold rating and issued a $36.00 price objective on shares of AT&T in a report on Friday, October 27th. Vetr raised AT&T from a buy rating to a strong-buy rating and set a $40.58 price objective for the company in a report on Monday, October 16th. Macquarie reissued a buy rating and issued a $43.00 price objective on shares of AT&T in a report on Friday, September 1st. KeyCorp reissued a hold rating on shares of AT&T in a report on Wednesday, October 11th. Finally, Royal Bank Of Canada reissued a hold rating and issued a $42.00 price objective on shares of AT&T in a report on Sunday, July 9th. One investment analyst has rated the stock with a sell rating, eighteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of Hold and an average target price of $42.87.
AT&T (NYSE:T) last announced its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.75 by ($0.01). The business had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. AT&T had a net margin of 8.00% and a return on equity of 14.49%. The business’s revenue for the quarter was down 3.0% compared to the same quarter last year. During the same period last year, the company earned $0.74 earnings per share.
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The company also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th were given a $0.49 dividend. This represents a $1.96 dividend on an annualized basis and a dividend yield of 5.82%. The ex-dividend date of this dividend was Friday, October 6th. AT&T’s dividend payout ratio is currently 94.69%.
In other news, Director Matthew K. Rose purchased 29,600 shares of the company’s stock in a transaction dated Wednesday, October 25th. The stock was acquired at an average price of $33.75 per share, for a total transaction of $999,000.00. Following the completion of the transaction, the director now directly owns 3,100 shares in the company, valued at approximately $104,625. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 0.09% of the company’s stock.
Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ullmann Financial Group Inc. acquired a new stake in AT&T in the 1st quarter worth about $101,000. New Capital Management LP boosted its stake in AT&T by 130.9% in the 3rd quarter. New Capital Management LP now owns 2,646 shares of the technology company’s stock worth $104,000 after buying an additional 1,500 shares during the last quarter. Taylor Wealth Management Partners boosted its stake in AT&T by 0.4% in the 1st quarter. Taylor Wealth Management Partners now owns 2,550 shares of the technology company’s stock worth $106,000 after buying an additional 11 shares during the last quarter. Macroview Investment Management LLC boosted its stake in AT&T by 144.3% in the 3rd quarter. Macroview Investment Management LLC now owns 2,700 shares of the technology company’s stock worth $106,000 after buying an additional 1,595 shares during the last quarter. Finally, Almanack Investment Partners LLC. acquired a new stake in AT&T in the 1st quarter worth about $109,000. 55.08% of the stock is currently owned by institutional investors and hedge funds.
AT&T Company Profile
AT&T Inc is a holding company. The Company is a provider of communications and digital entertainment services in the United States and the world. The Company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility and International. The Company offers its services and products to consumers in the United States, Mexico and Latin America and to businesses and other providers of telecommunications services worldwide.
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