AT&T (T) is Downgraded by Citigroup to Neutral, Raises Price Target to $ 46

AT&T (T) was Downgraded by Citigroup to ” Neutral” according to the research note released today. The brokerage firm has raised the Price Target to $ 46 from a previous price target of $42 . Earlier the firm had a rating of “Buy ” on the company shares. Citigroup advised their investors in a research report released on Jul 7, 2016.

Many Wall Street Analysts have commented on AT&T. Company shares were Reiterated by Deutsche Bank on Jun 28, 2016 to “Buy”, Firm has raised the Price Target to $ 45 from a previous price target of $41 .AT&T was Downgraded by Buckingham Research to ” Neutral” on Jun 24, 2016. Company shares were Reiterated by DA Davidson on May 17, 2016 to “Buy”, Firm has raised the Price Target to $ 44 from a previous price target of $42 .

On the company’s financial health, AT&T reported $0.72 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Apr 26, 2016. Analyst had a consensus of $0.69. The company had revenue of $40535.00 million for the quarter, compared to analysts expectations of $40402.73 million. The company’s revenue was up 24.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS.

AT&T closed down -0.12 points or -0.28% at $43.35 with 3,55,85,261 shares getting traded on Tuesday. Post opening the session at $43.5, the shares hit an intraday low of $43.33 and an intraday high of $43.89 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

In a different news, on May 5, 2016, Matthew K Rose (director) purchased 21,950 shares at $34.15 per share price. According to the SEC, on Aug 25, 2015, Michael B Mccallister (director) purchased 10,000 shares at $32.92 per share price. On Aug 4, 2015, Beth E Mooney (director) purchased 10,000 shares at $34.65 per share price, according to the Form-4 filing with the securities and exchange commission.

AT&T Inc. is a holding company. The Company provides telecommunications services. Its services and products include wireless communications data/broadband and Internet services video services local exchange services long-distance services telecommunications equipment managed networking and wholesale services. Its segments include Wireless Wireline and International. Its wireless subsidiaries provide both wireless voice and data communication services. The wireline subsidiaries provide landline data and voice communication services AT&T U-verse broadband video and voice services (U-verse) and managed networking. Its International segment uses the Iusacell and Unefon regional and national networks to provide wireless data and voice communication services. Its International segment also utilizes the networks of Nextel Mexico to provide similar services. Through its subsidiary DIRECTV Group Holdings LLC it provides pay television in the United States and across the world.


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