HSBC Downgrades AT&T (NYSE:T) to Hold

AT&T (NYSE:T) was downgraded by HSBC from a “buy” rating to a “hold” rating in a research note issued to investors on Thursday, Marketbeat.com reports. They presently have a $42.00 target price on the technology company’s stock. HSBC’s price target would indicate a potential upside of 6.33% from the company’s previous close.

A number of other analysts also recently weighed in on the company. Bank of America restated a “buy” rating on shares of AT&T in a report on Monday, September 9th. Cowen set a $40.00 price objective on AT&T and gave the company a “buy” rating in a report on Friday, September 6th. DZ Bank reaffirmed a “hold” rating and set a $38.00 price target on shares of AT&T in a research report on Wednesday, September 18th. Raymond James reaffirmed a “buy” rating and set a $45.00 price target (up previously from $40.00) on shares of AT&T in a research report on Tuesday, October 29th. Finally, Credit Suisse Group raised shares of AT&T from an “underperform” rating to a “neutral” rating and set a $29.00 price target on the stock in a research report on Thursday, July 25th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $40.81.

NYSE T traded up $0.55 on Thursday, reaching $39.50. The company had a trading volume of 27,268,084 shares, compared to its average volume of 28,998,356. The firm has a market cap of $286.06 billion, a price-to-earnings ratio of 11.22, a P/E/G ratio of 2.47 and a beta of 0.64. AT&T has a fifty-two week low of $26.80 and a fifty-two week high of $39.58. The business has a 50 day moving average of $38.06 and a two-hundred day moving average of $34.69. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.74 and a quick ratio of 0.74.

AT&T (NYSE:T) last posted its quarterly earnings data on Monday, October 28th. The technology company reported $0.94 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.93 by $0.01. The business had revenue of $44.59 billion during the quarter, compared to the consensus estimate of $45.45 billion. AT&T had a return on equity of 13.42% and a net margin of 8.97%. AT&T’s quarterly revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, research analysts predict that AT&T will post 3.57 earnings per share for the current fiscal year.

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Hedge funds have recently added to or reduced their stakes in the company. Grimes & Company Inc. lifted its position in AT&T by 0.9% in the 2nd quarter. Grimes & Company Inc. now owns 33,782 shares of the technology company’s stock valued at $1,132,000 after acquiring an additional 294 shares in the last quarter. Interactive Financial Advisors lifted its position in AT&T by 16.7% in the 2nd quarter. Interactive Financial Advisors now owns 2,100 shares of the technology company’s stock valued at $70,000 after acquiring an additional 300 shares in the last quarter. D.B. Root & Company LLC lifted its position in AT&T by 0.9% in the 3rd quarter. D.B. Root & Company LLC now owns 34,925 shares of the technology company’s stock valued at $1,321,000 after acquiring an additional 303 shares in the last quarter. Donald L. Hagan LLC lifted its position in AT&T by 1.5% in the 3rd quarter. Donald L. Hagan LLC now owns 20,988 shares of the technology company’s stock valued at $793,000 after acquiring an additional 304 shares in the last quarter. Finally, Berkshire Money Management Inc. increased its stake in AT&T by 3.2% in the 2nd quarter. Berkshire Money Management Inc. now owns 9,891 shares of the technology company’s stock valued at $331,000 after buying an additional 305 shares during the last quarter. 52.89% of the stock is currently owned by institutional investors.

AT&T Company Profile

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Analyst Recommendations for AT&T (NYSE:T)

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