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”.
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.
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.
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.