AT&T (NYSE:T) PT Lowered to $31.00 at Citigroup

AT&T (NYSE:T) had its price target trimmed by Citigroup from $42.00 to $31.00 in a report published on Wednesday, The Fly reports. The brokerage currently has a buy rating on the technology company’s stock.

Several other equities research analysts have also recently weighed in on T. Cowen cut AT&T from an outperform rating to a market perform rating and reduced their price objective for the company from $43.00 to $37.00 in a research report on Monday, March 23rd. Deutsche Bank started coverage on AT&T in a research report on Wednesday, January 22nd. They issued a buy rating and a $44.00 target price for the company. Raymond James cut AT&T from an outperform rating to a market perform rating in a research report on Monday, March 16th. Tigress Financial reaffirmed a buy rating on shares of AT&T in a research report on Friday, January 3rd. Finally, Royal Bank of Canada reiterated a hold rating and set a $38.00 price objective on shares of AT&T in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $38.92.

NYSE T traded down $0.76 on Wednesday, hitting $29.84. 46,366,596 shares of the company were exchanged, compared to its average volume of 69,287,856. The company’s 50 day moving average price is $35.47 and its 200-day moving average price is $37.47. The company has a debt-to-equity ratio of 0.75, a current ratio of 0.79 and a quick ratio of 0.79. The firm has a market capitalization of $219.80 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.54 and a beta of 0.64. AT&T has a twelve month low of $26.08 and a twelve month high of $39.70.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 29th. The technology company reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates of $0.88 by $0.01. AT&T had a return on equity of 13.37% and a net margin of 7.67%. The company had revenue of $46.82 billion for the quarter, compared to the consensus estimate of $47.06 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s quarterly revenue was down 2.4% on a year-over-year basis. As a group, equities analysts expect that AT&T will post 3.58 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Thursday, April 9th will be paid a dividend of $0.52 per share. This represents a $2.08 annualized dividend and a yield of 6.97%. AT&T’s dividend payout ratio (DPR) is currently 58.26%.

In other news, Director Stephen J. Luczo purchased 100,000 shares of the company’s stock in a transaction on Tuesday, February 4th. The stock was purchased at an average price of $37.81 per share, with a total value of $3,781,000.00. Insiders own 0.07% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in T. Pantheon Investment Group LLC purchased a new position in AT&T during the 4th quarter valued at about $340,000. American Institute for Advanced Investment Management LLP purchased a new position in AT&T during the 4th quarter valued at about $236,000. HighMark Wealth Management LLC purchased a new position in AT&T during the 4th quarter valued at about $167,000. Sowa Financial Group Inc. purchased a new position in AT&T during the 4th quarter valued at about $475,000. Finally, Quadrant Capital Group LLC increased its holdings in AT&T by 12.9% during the 4th quarter. Quadrant Capital Group LLC now owns 62,337 shares of the technology company’s stock valued at $2,401,000 after purchasing an additional 7,133 shares during the period. 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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