Home Analyst Ratings AT&T Inc. Upgraded to Outperform at Raymond James

AT&T Inc. [T] Upgraded to Outperform at Raymond James

Raymond James took its AT&T Inc. [NYSE:T]‎‎ rating to the equivalent of Outperform from Market ‎Perform, ‎and the price target to $32, ‎in a research note dated January 4, 2021. That figure represents ‎around a 11.26% premium ‎from ‎where the company’s shares closed on Thursday.‎ ‎ Other analysts also ‎revised their coverage, with Morgan Stanley’s analysts downgrading the shares ‎from “an Overweight” ‎rating to “an Equal-weight” rating in a research note to investors issued in mid ‎December. Meanwhile, ‎Credit Suisse had maintained its rating on T to the earlier “Neutral” rating, in a ‎research note produced ‎for clients October 23, 2020. In addition, there was a new coverage from ‎Wolfe Research on October ‎‎20, 2020. The research firm rated T “a Peer perform”.

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Is AT&T Inc. [NYSE:T] a Good Buy Right Now?

It should be ‎noted that T technical indicators ‎for short, intermediate as well as long term progress have placed an ‎overall average of 40% as Sell. The ‎average signal changed from 40% Sell in the last week and compares ‎with 40% Sell in the past month. ‎Data from AT&T Inc.’s Trend Spotter indicated that the signals were ‎Weakest. The stock current ‎average is 44.92 million shares in the past 20 days and the short term ‎average signal indicates a 50% ‎Buy. In the last 50 days, the average trading volume was 42.04 million ‎shares while the medium term ‎average advocated for 50% Sell. The average long-term signal stands at ‎‎100% Sell and the 100-day ‎average volume stands at 38.08 million shares.‎‎

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T Price ‎Performance

On Wall Street, AT&T Inc. [NYSE:T] finished Thursday’s session up ‎‎0.95% at $28.76. ‎The stock went up to $28.80 at the same session while its lowest single day price was ‎‎$28.39. In the last ‎five days, it saw a rise of about 0.03%, AT&T Inc. shares dropped by almost -26.41% ‎since the beginning ‎of the year. However, the share price has dropped to as low as -27.28% below its ‎one year high. On ‎‎01/08/20, the company shares recorded $39.55, the highest single-day price it has ‎got to in the last 52-‎weeks and a 52-week low was seen on 03/23/20, the same year at $26.08. The ‎company’s shares have ‎declined by -25.99% in the past year. The 50-day SMA achieved is $28.70 while ‎the 200-day SMA is ‎‎$29.42. Volume gained to 38.62 million from 34.35 million in the previous session.‎‎

AT&T Inc. [T] ‎Valuation Measures

Notably, AT&T Inc. [T] stock can be classified as a good ‎candidate in the ‎listing of underestimated low-priced Telecom Services companies to purchase ‎soonest possible with ‎the prevailing 12-month PE ratio of 18.92. The measure means the stock is ‎exchanging at a discount as ‎compared to the 19.57x trailing earnings of the industry. It can be helpful ‎for investors to consider ‎historical price-sales ratio, more specifically, a 1.17 PS value ratio is reported ‎for the last one year of ‎reported earnings. That is lower than the industry average of 1.54 which means ‎T serve an attractive ‎investment opportunity compared to its competitors.‎‎

T Stock Support And Resistance ‎Levels

On the 24-hour scale, the immediate backing is ‎perceived around 28.50 level, and in case ‎of violation of this particular level, it will cause more drop to ‎‎28.24 level. On the upper level, 29.06 is still ‎the key resistance. The stock may increase to the ‎subsequent resistance at 28.91. The Relative ‎Strength Index (RSI) pinned on the 14-day chart is 45.34, ‎implying a neutral technical stance while the ‎MACD stands at -0.73, meaning price will decrease in the ‎next trading period. Percent R indicator ‎moved to 85.08%, implying bearish price movement. ‎Stochastic %K at 8.95% suggest selling the stock.‎‎‎

What is the short interest in AT&T Inc.?

Short interest in the AT&T Inc. stock has ‎surged, ‎increasing by 13.3 million shares to total 129.05 million shares on Dec 14, 2020. The interest had ‎seen ‎shares on Nov 12, 2020 stand at 142.35 million, data from Yahoo Finance shows. The decrease of -‎‎‎10.31% suggests the stock saw some decreased bullish sentiment. The stock’s days to cover ‎‎(short ‎ratio) moved to while the shorted shares account for just 1.81% of the overall float for the ‎stock.‎‎

AT&T Inc.’s Biggest Shareholders: Who Owns AT&T Inc. [T]?

Filings by The Vanguard ‎Group, ‎Inc. showed that the firm now holds a total of 529,193,500 shares or roughly 7.43% of the ‎outstanding T ‎shares. This means their shares have reduced by -7,422,652 from the 529,193,500 the ‎investor ‎reportedly held in its prior 13-F filing. With the conclusion of the sale, BlackRock Fund Advisors ‎updated ‎stake is worth $9,938,471,494. Details in the latest 13F filings reveal that SSgA Funds ‎Management, Inc. ‎acquired their 0.09% stake valued at $8,452,121,104 while Newport Trust Co. cut ‎theirs at ‎‎$5,732,372,024. During the last quarter, SSgA Funds Management, Inc. raised 253,665 of its ‎shares in ‎AT&T Inc. while Newport Trust Co. sold -1,581,688 shares. The Geode Capital Management ‎LLC’s ‎holdings currently number 109,443,828 shares at $3147604493.28. According to the firm’s last ‎‎13F ‎report, Northern Trust Investments, Inc. shares in the company at filing stood at 85,117,870 ‎shares, ‎roughly $2,447,138,763.‎‎

T Earnings Forecast For The Current Quarter

AT&T Inc. [T] is ‎expected to report weak ‎earnings results for the quarter ending on Dec 2020. Consensus estimates ‎give the company expected ‎revenues of $44.54B and an earnings per share of $0.73 for Dec 2020. ‎Looking further ahead, the ‎company is expected to report revenue of $42.47B at an EPS of $0.79 for ‎Mar 2021. The estimates ‎represent downside of 1.30% and 0.89% in the company’s revenue and ‎earnings per share, ‎respectively, on a year-on-year basis.‎‎

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T Earnings Estimates For The Current ‎Year

For the financial ‎year, AT&T Inc. [NYSE:T] is expected to bring in revenue of $170.61B. The ‎returns are nearly $-10.65 ‎billion lower than the company’s actual revenue recorded in the fiscal year ‎‎2019. In terms of EPS for ‎the 2020, estimate put it at 3.15, lower than that of FY19 by -$0.42. Estimates ‎put this year’s earnings ‎growth at -11.80%, 1.00% for the next, and at an annual -1.74% over the next 5-‎year period. As for ‎sales, forecasts are for a decrease of -5.90% in the current fiscal year and a further ‎‎1.30% over the ‎following year.‎

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