In the latest trading session, 5.05 million AT&T Inc. (NYSE:T) shares changed hands as the company’s beta touched 0.60. With the company’s most recent per share price at $15.14 changed hands at -$0.09 or -0.62% at last look, the market valuation stands at $106.99B. T’s current price is a discount, trading about -35.4% off its 52-week high of $20.50. The share price had its 52-week low at $13.43, which suggests the last value was 11.29% up since then. When we look at AT&T Inc.’s average trading volume, we note the 10-day average is 37.25 million shares, with the 3-month average coming to 45.01 million.
Analysts gave the AT&T Inc. (T) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 2 out of 27 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 15 recommended T as a Hold, 9 felt it is a Buy and 1 rated the stock as Underweight. AT&T Inc.’s EPS for the current quarter is expected to be $0.62.
AT&T Inc. (NYSE:T) trade information
Instantly T was in red as seen in intraday trades today. With action 4.24%, the performance over the past five days has been green. The drop to weekly highs of 15.30 on Friday, 09/15/23 subtracted -0.62% to the stock’s daily price. The company’s shares are showing year-to-date downside of -17.79%, with the 5-day performance at 4.24% in the green. However, in the 30-day time frame, AT&T Inc. (NYSE:T) is 8.03% up. Looking at the short shares, we see there were 115.11 million shares sold at short interest cover period of 3.21 days.
The consensus price target for the stock as assigned by Wall Street analysts is $18.35, meaning bulls need an upside of 17.49% from its recent market value. According to analyst projections, T’s forecast low is $8.00 with $25.00 as the target high. To hit the forecast high, the stock’s price needs a -65.13% plunge from its current level, while the stock would need to tank 47.16% for it to hit the projected low.
AT&T Inc. (T) estimates and forecasts
Data shows that the AT&T Inc. share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -16.52% over the past 6 months, a -5.45% in annual growth rate that is considerably lower than the industry average of -4.00%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for AT&T Inc. will fall -8.80%, while the growth in revenue is estimated to hit -6.60% for the next quarter. Year-over-year growth is forecast to reach 0.90% up from the last financial year.
Consensus estimates given by 16 financial analysts project the company’s revenue in the current quarter to hit an average of $30.24 billion. 14 analysts are of the opinion that AT&T Inc.’s revenue for the quarter ending Dec 2023 will be $31.51 billion. The company’s revenue for the corresponding quarters a year ago was $29.84 billion and $31.34 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.30%. The estimates for the next quarter sales put growth at 0.50%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -22.90%. The 2023 estimates are for AT&T Inc. earnings to decrease by -139.30%, but the outlook for the next 5-year period is at -0.51% per year.
AT&T Inc. is expected to release its next quarterly earnings report between October 18 and October 23. The 7.33% annual yield figure for the share gives it an annual dividend of 1.11. It is important to note, however, that the 7.33% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
AT&T Inc. (NYSE:T)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.09% of AT&T Inc. shares while 56.72% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 56.77%. There are 56.72% institutions holding the AT&T Inc. stock share, with Vanguard Group Inc the top institutional holder. As of Jun 29, 2023, the company held 8.68% of the shares, roughly 620.3 million T shares worth $9.39 billion.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 7.48% or 534.77 million shares worth $8.1 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jun 29, 2023 were Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. With 223.29 million shares estimated at $3.38 billion under it, the former controlled 3.12% of total outstanding shares. On the other hand, Vanguard 500 Index Fund held about 2.38% of the shares, roughly 170.21 million shares worth around $2.58 billion.