AT&T (NYSE: T)‘s stock had its “overweight” rating reiterated by equities research analysts at Piper Jaffray in a research note issued to investors on Friday. They currently have a $40.00 price target on the stock.
The analysts wrote, “AT&T’s Steve Caniano, VP of Cloud Strategy and Business Development will be doing a keynote address to kick off the Piper Jaffray TMT conference on March 12. In a fireside chat, we’ll discuss what the largest telco in the US has planned for cloud hosting, collocation and all things datacenter oriented. With a global reach and connections to millions of American consumers and businesses, learn how AT&T is going to leverage the cloud and those connections to drive more value from its network. What AT&T does in the cloud is sure to influence and impact other large cloud providers like Amazon Web Services, Rackspace, Microsoft and HP, as well as other telcos, smaller cloud players, software developers and equipment suppliers. The keynote will begin at 8:30 AM on March 12th.”
T has been the subject of a number of other recent research reports. Analysts at Zacks reiterated an “outperform” rating on shares of AT&T in a research note to investors on Friday. They now have a $4.00 price target on the stock. Separately, analysts at JPMorgan Chase reiterated an “overweight” rating on shares of AT&T in a research note to investors on Friday, February 15th. They now have a $37.00 price target on the stock.
Eight equities research analysts have rated the stock with a buy rating, one has issued an overweight rating, twenty have issued a hold rating, two have issued an underweight rating, and three have given a sell rating to the company’s stock. The stock has a consensus rating of “hold” and a consensus target price of $36.12.
Shares of AT&T traded up 0.24% during mid-day trading on Friday, hitting $35.995. AT&T has a 52 week low of $29.95 and a 52 week high of $38.58. The stock’s 50-day moving average is currently $34.80. The company has a market cap of $197.7 billion and a P/E ratio of 28.73.
AT&T last announced its earnings results on Thursday, January 24th. The company reported $0.44 EPS for the quarter, missing the Thomson Reuters consensus estimate of $0.46 by $0.02. The company had revenue of $32.58 billion for the quarter, compared to the consensus estimate of $32.21 billion. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up .2% on a year-over-year basis. Analysts expect that AT&T will post $2.52 EPS for the current fiscal year.
AT&T Inc. (AT&T) is a holding company. AT&T is a provider of telecommunications services in the United States and worldwide.
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