Stock Update (NYSE:T): AT&T (T) Stock Up, Migrating Most Applications to Cloud in 2016

[at TheStreet] – AT&T (T) shares are rising on Wednesday after the telecommunications company said it’s planning to move 80% of its applications into a private cloud by the end of this year. Read more on this. AT&T, Inc. (T) , with a current value of $238.48B, opened at $38.54. Shares have traded today between $38.36 and $38.88 per share and has traded between $30.97 and $38.88 over the past year. T shares are currently priced at 13.52x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 15.48x earnings multiple for the same period. And for income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 5.01%. Consensus earnings for the current quarter by the 21 sell-side analysts covering the stock is an estimate of $0.69 per share, which would be $0.06 better than the year-ago quarter and a $0.02 sequential decrease. The full-year EPS estimate is $2.85, which would be a $0.14 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $41.28 Billion. If reported, that would be a 26.70% increase over the year-ago quarter. In terms of ratings, Deutsche Bank Initiated T at Buy (Feb 24, 2016). Previously, DA Davidson Initiated T at to Buy. The average price target for T shares by the analysts covering the stock is $37.85, which is 1.79% below where the stock opened this morning. See more in (NYSE:T) Similar Articles: Stock Update (NYSE:T): AT&T Hiring For More Than 340 Jobs In Georgia Company Update (NYSE:T): AT&T, Comcast Could Add Pay-TV Subscribers In 2016 Stock Update (NYSE:T): AT&T Unveils New Way To Mobilize And Grow Your Business With AT&T Collaborate™
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