AT&T (T) Raised to “Hold” at Zacks Investment Research

AT&T (NYSE:T) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday.

According to Zacks, “We are optimistic about AT&T’s wireless growth opportunities from the launch of standards-based mobile 5G services in 2018 and the FirstNet project. AT&T’s DIRECTV NOW reported more than 1 million subscribers, despite cord-cutting. Vyatta buyout boosts AT&T’s SD-WAN suite. AT&T-Verizon have teamed up with Tillman to build cell towers in the United States. AT&T’s NetBond is planning to offer multiple cloud connections. AT&T is exploring a strategic option to sell a major part of its Latin American pay-TV operations. However, AT&T continues to struggle in the competitive U.S. wireless market. Loss in access lines, operating expenses, marketing costs associated with attractive discounts and union issues are other risks. AT&T-Time Warner extended their proposed deal closure deadline to Jun 21, 2018 to clear-off regulatory issues. In the past six months, the stock underperformed its industry.”

Other analysts have also recently issued reports about the stock. Vetr cut shares of AT&T from a “strong-buy” rating to a “buy” rating and set a $42.75 price objective on the stock. in a research note on Tuesday, September 26th. ValuEngine cut shares of AT&T from a “buy” rating to a “hold” rating in a research note on Sunday, December 31st. Moffett Nathanson reaffirmed a “neutral” rating on shares of AT&T in a research note on Monday, October 16th. Morgan Stanley upped their price objective on shares of AT&T from $46.00 to $48.00 and gave the stock an “equal weight” rating in a research note on Wednesday, September 27th. Finally, KeyCorp upped their price objective on shares of AT&T from $35.00 to $38.00 and gave the stock a “sector weight” rating in a research note on Tuesday, January 2nd. One research analyst has rated the stock with a sell rating, seventeen have given a hold rating and eleven have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $42.59.

AT&T (T) traded up $0.29 during trading hours on Friday, reaching $36.77. 13,820,000 shares of the company traded hands, compared to its average volume of 31,670,000. AT&T has a 52-week low of $32.55 and a 52-week high of $42.70. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $225,730.00, a price-to-earnings ratio of 17.68, a PEG ratio of 3.14 and a beta of 0.44.

AT&T (NYSE:T) last posted its quarterly earnings results on Tuesday, October 24th. The technology company reported $0.74 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.01). AT&T had a return on equity of 14.49% and a net margin of 8.00%. The business had revenue of $39.67 billion during the quarter, compared to analyst estimates of $40.34 billion. During the same period last year, the company earned $0.74 EPS. The business’s revenue for the quarter was down 3.0% on a year-over-year basis. equities research analysts expect that AT&T will post 2.92 earnings per share for the current fiscal year.

In related news, Director Matthew K. Rose purchased 29,600 shares of the firm’s stock in a transaction dated Wednesday, October 25th. The shares were acquired at an average cost of $33.75 per share, with a total value of $999,000.00. Following the completion of the purchase, the director now directly owns 3,100 shares of the company’s stock, valued at $104,625. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.09% of the stock is owned by corporate insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Lederer & Associates Investment Counsel CA lifted its holdings in AT&T by 2.9% in the fourth quarter. Lederer & Associates Investment Counsel CA now owns 49,989 shares of the technology company’s stock valued at $1,944,000 after buying an additional 1,425 shares during the period. Acropolis Investment Management LLC raised its holdings in AT&T by 57.8% in the fourth quarter. Acropolis Investment Management LLC now owns 13,546 shares of the technology company’s stock worth $527,000 after purchasing an additional 4,963 shares during the period. Sawyer & Company Inc acquired a new stake in AT&T in the fourth quarter worth $4,882,000. Rockland Trust Co. raised its holdings in AT&T by 1.7% in the fourth quarter. Rockland Trust Co. now owns 443,231 shares of the technology company’s stock worth $17,233,000 after purchasing an additional 7,237 shares during the period. Finally, Kistler Tiffany Companies LLC raised its holdings in AT&T by 7.2% in the fourth quarter. Kistler Tiffany Companies LLC now owns 44,432 shares of the technology company’s stock worth $1,728,000 after purchasing an additional 2,996 shares during the period. Institutional investors and hedge funds own 55.76% of the company’s stock.

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About AT&T

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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