AT&T, Inc. [T] gain 1.19% so far this year. What now?

AT&T, Inc. [NYSE: T] stock went on a downward path that fall over -1.05% on Friday, amounting to a one-week price decrease of less than -0.41%. The company report on March 19, 2024 at 6:00 AM that Lunda Construction Announces Apparent Low Bid for a $136 Million I-64 Bridge and Highway Project.

Tutor Perini Corporation (NYSE: TPC) (the “Company”), a leading civil, building and specialty construction company, announced today that its subsidiary, Lunda Construction Company, has been recently identified by the Illinois Department of Transportation as the apparent low bidder for a bridge replacement and highway improvement project valued at approximately $136 million. The project is located on I-64, east of US‑1 near Grayville, Illinois. The project crosses the Wabash River, which divides the roadway jurisdiction between White County, Illinois, west of the river, and Posey County, Indiana, east of the river. The improvement is a total of 8,339 feet (1.58 miles) along I-64. The project scope of work includes replacement of the existing dual bridges over the Wabash River, as well as roadway improvements to connect the existing I-64 roadway to the new bridge structures.

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Contract award is anticipated in the second quarter of 2024 and work is subsequently expected to begin in the third quarter of 2024, with substantial completion anticipated in the fourth quarter of 2029.

Over the last 12 months, T stock dropped by -7.67%. The one-year AT&T, Inc. stock forecast points to a potential upside of 13.63. The average equity rating for T stock is currently 2.36, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $121.45 billion, with 7.15 billion shares outstanding and 7.14 billion shares in the current float. Compared to the average trading volume of 38.56M shares, T stock reached a trading volume of 26127061 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on AT&T, Inc. [T]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for T shares is $19.66 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on T stock is a recommendation set at 2.36. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Wolfe Research have made an estimate for AT&T, Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 05, 2024. While these analysts kept the previous recommendation, JP Morgan raised their target price from $18 to $21. The new note on the price target was released on February 01, 2024, representing the official price target for AT&T, Inc. stock. Previously, the target price had yet another raise to $21, while Oppenheimer analysts kept a Outperform rating on T stock.

The Average True Range (ATR) for AT&T, Inc. is set at 0.28, with the Price to Sales ratio for T stock in the period of the last 12 months amounting to 0.99. The Price to Book ratio for the last quarter was 1.18, with the Price to Cash per share for the same quarter was set at 0.95. Price to Free Cash Flow for T in the course of the last twelve months was 5.94 with Quick ratio for the last quarter at 0.56.

T Stock Performance Analysis:

AT&T, Inc. [T] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -0.41. With this latest performance, T shares gained by 2.35% in over the last four-week period, additionally plugging by 10.91% over the last 6 months – not to mention a drop of -7.67% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for T stock in for the last two-week period is set at 47.25, with the RSI for the last a single of trading hit 43.94, and the three-weeks RSI is set at 49.00 for AT&T, Inc. [T]. The present Moving Average for the last 50 days of trading for this stock 17.04, while it was recorded at 17.16 for the last single week of trading, and 15.80 for the last 200 days.

Insight into AT&T, Inc. Fundamentals:

AT&T, Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.56 and a Current Ratio set at 0.60.

T Stock EPS

With the latest financial reports released by the company, AT&T, Inc. posted 0.6/share EPS, while the average EPS was predicted by analysts to be reported at 0.58/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 3.40%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for T. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for AT&T, Inc. go to 0.74%.

AT&T, Inc. [T] Institutonal Ownership Details

There are presently around $79.81 billion, or None% of T stock, in the hands of institutional investors. The top three institutional holders of T stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in T stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in T stock with ownership which is approximately 5.8325%.