Equities analysts forecast that AT&T Inc. (NYSE:T) will report $41.67 billion in sales for the current quarter, Zacks Investment Research reports. Twelve analysts have provided estimates for AT&T’s earnings, with the highest sales estimate coming in at $42.27 billion and the lowest estimate coming in at $40.24 billion. AT&T posted sales of $44.59 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 6.5%. The company is scheduled to issue its next earnings results on Monday, October 26th.
According to Zacks, analysts expect that AT&T will report full-year sales of $169.54 billion for the current year, with estimates ranging from $167.38 billion to $170.88 billion. For the next fiscal year, analysts anticipate that the company will report sales of $172.20 billion, with estimates ranging from $167.01 billion to $177.84 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for AT&T.
AT&T (NYSE:T) last announced its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.04. AT&T had a net margin of 6.84% and a return on equity of 13.03%. The firm had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. During the same period in the prior year, the firm posted $0.89 earnings per share. The company’s revenue for the quarter was down 8.9% on a year-over-year basis.
A number of equities research analysts have recently issued reports on the stock. Bank of America reissued a “buy” rating and issued a $36.00 price target on shares of AT&T in a report on Friday, July 24th. Scotiabank downgraded shares of AT&T from a “sector perform” rating to a “sector underperform” rating and lowered their target price for the company from $34.00 to $30.00 in a research note on Monday, August 31st. Zacks Investment Research downgraded shares of AT&T from a “hold” rating to a “sell” rating and set a $33.00 target price on the stock. in a research note on Wednesday, May 27th. Deutsche Bank lowered their target price on shares of AT&T from $38.00 to $37.00 and set a “buy” rating on the stock in a research note on Tuesday, August 4th. Finally, Morgan Stanley lowered their target price on shares of AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 1st. Five investment analysts have rated the stock with a sell rating, twelve have given a hold rating and twelve have given a buy rating to the stock. AT&T has a consensus rating of “Hold” and a consensus target price of $34.00.
Shares of AT&T stock opened at $29.24 on Thursday. AT&T has a 12-month low of $26.08 and a 12-month high of $39.70. The company has a market cap of $208.34 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.64 and a beta of 0.69. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. The company’s 50-day moving average price is $29.70 and its 200-day moving average price is $30.48.
In other news, Director Stephen J. Luczo bought 100,000 shares of the business’s stock in a transaction dated Thursday, July 23rd. The shares were purchased at an average price of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.07% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of T. Public Employees Retirement Association of Colorado grew its holdings in shares of AT&T by 5.3% in the first quarter. Public Employees Retirement Association of Colorado now owns 1,380,340 shares of the technology company’s stock worth $40,237,000 after purchasing an additional 69,268 shares during the last quarter. BRYN MAWR TRUST Co boosted its holdings in AT&T by 0.7% in the first quarter. BRYN MAWR TRUST Co now owns 130,322 shares of the technology company’s stock valued at $3,799,000 after acquiring an additional 851 shares in the last quarter. IndexIQ Advisors LLC boosted its holdings in AT&T by 2,591.6% in the first quarter. IndexIQ Advisors LLC now owns 67,856 shares of the technology company’s stock valued at $1,978,000 after acquiring an additional 65,335 shares in the last quarter. Lucia Wealth Services LLC boosted its holdings in AT&T by 301.0% in the first quarter. Lucia Wealth Services LLC now owns 3,316 shares of the technology company’s stock valued at $97,000 after acquiring an additional 2,489 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in AT&T in the first quarter valued at $34,000. Hedge funds and other institutional investors own 52.29% of the company’s stock.
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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