AT&T (NYSE:T) Cut to Neutral at Robert W. Baird

Robert W. Baird downgraded shares of AT&T (NYSE:T) from an outperform rating to a neutral rating in a research report report published on Monday, 24/7 WallStreet reports. Robert W. Baird currently has $33.00 target price on the technology company’s stock, down from their previous target price of $41.00.

Other equities research analysts have also recently issued research reports about the company. Tigress Financial reaffirmed a buy rating on shares of AT&T in a report on Friday, January 3rd. ValuEngine raised AT&T from a strong sell rating to a sell rating in a report on Monday, March 9th. Raymond James cut AT&T from an outperform rating to a market perform rating in a report on Monday, March 16th. Deutsche Bank assumed coverage on AT&T in a report on Wednesday, January 22nd. They set a buy rating and a $44.00 price target on the stock. Finally, UBS Group lifted their price target on AT&T from $49.00 to $53.00 and gave the company a neutral rating in a report on Friday, February 14th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $38.92.

Shares of T traded up $2.20 during mid-day trading on Monday, reaching $30.60. 64,031,133 shares of the company’s stock traded hands, compared to its average volume of 45,789,043. The business’s 50-day moving average price is $35.62 and its 200-day moving average price is $37.50. The stock has a market capitalization of $219.80 billion, a P/E ratio of 16.11, a price-to-earnings-growth ratio of 1.41 and a beta of 0.64. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.79 and a current ratio of 0.79. AT&T has a 12 month low of $26.08 and a 12 month high of $39.70.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 29th. The technology company reported $0.89 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.88 by $0.01. The company had revenue of $46.82 billion for the quarter, compared to analysts’ expectations of $47.06 billion. AT&T had a return on equity of 13.37% and a net margin of 7.67%. The business’s revenue for the quarter was down 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.86 earnings per share. Equities research analysts anticipate that AT&T will post 3.61 EPS for the current year.

In other AT&T news, Director Stephen J. Luczo purchased 100,000 shares of the firm’s stock in a transaction on Tuesday, February 4th. The shares were purchased at an average price of $37.81 per share, for a total transaction of $3,781,000.00. Insiders own 0.07% of the company’s stock.

Institutional investors have recently bought and sold shares of the business. Psagot Investment House Ltd. boosted its position in shares of AT&T by 0.4% during the 3rd quarter. Psagot Investment House Ltd. now owns 405,865 shares of the technology company’s stock worth $15,358,000 after acquiring an additional 1,506 shares in the last quarter. UMA Financial Services Inc. acquired a new position in shares of AT&T during the 3rd quarter worth about $341,000. Voya Investment Management LLC boosted its position in shares of AT&T by 8.2% during the 3rd quarter. Voya Investment Management LLC now owns 8,968,079 shares of the technology company’s stock worth $339,353,000 after acquiring an additional 676,744 shares in the last quarter. Voya Financial Advisors Inc. boosted its position in shares of AT&T by 1.4% during the 3rd quarter. Voya Financial Advisors Inc. now owns 343,833 shares of the technology company’s stock worth $12,870,000 after acquiring an additional 4,824 shares in the last quarter. Finally, Redpoint Investment Management Pty Ltd boosted its position in shares of AT&T by 15.3% during the 3rd quarter. Redpoint Investment Management Pty Ltd now owns 482,157 shares of the technology company’s stock worth $18,245,000 after acquiring an additional 64,055 shares in the last quarter. Hedge funds and other institutional investors own 56.10% of the company’s stock.

About AT&T

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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