Stock Update: AT&T Inc (NYSE:T) – Despite Near-Term Noise, Wells Fargo Sees Higher Upside in Verizon and AT&T

[at 24/7 Wall St.] – Wells Fargo’s Jennifer Fritzsche has retained her Outperform ratings on AT&T and Verizon with above-consensus price targets. Read more on this. AT&T, Inc. (T) , with a current market cap of $240.33B, began trading this morning at $39.00. During today’s session, T traded between $38.81 to $39.28 and has traded between $30.97 and $39.28 over the past 12 months. T shares are currently priced at 13.69x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.05x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $1.92 per share annually in dividends, yielding 4.94%. According to a consensus of 23 analysts, the earnings estimate of $0.69 per share would be $0.06 better than the year-ago quarter and a $0.02 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.84 is a $0.13 better when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $41.10 Billion. If reported, that would be a 26.15% increase over the year-ago quarter. Recently, 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 it is $37.89, which is 2.85% below where the stock opened. See more in (NYSE:T) Similar Articles: Stock Update (NYSE:T): AT&T (T) Stock Up, Migrating Most Applications to Cloud in 2016 Stock Update (NYSE:VZ): Verizon CFO to present at Wells Fargo conference Nov. 10 Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon May Not Sell Remaining Wireline Assets in the Near Term
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