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Company Update: AT&T Inc (NYSE:T) – AT&T Announces Preliminary Results of 2016 Annual Meeting

[Business Wire] – At its annual meeting of shareholders today, AT&T Inc. announced that each of the 12 nominees to the company’s board of directors were reelected for one-year terms. Each member received at least 94.7 percent of the shares voted. Read more on this. AT&T, Inc. (T) , with a current value of $238.79B, started trading this morning at $38.64. During today’s session, T traded between $38.48 to $38.88 with a trailing 52-week range being $30.97 to $39.72. T shares are currently priced at 13.56x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.71x earnings multiple. And for passive income investors, the company pays shareholders $1.92 per share annually in dividends, yielding 5.04%. According to a consensus of 26 analysts, the earnings estimate of $0.72 per share would be $0.03 better than the year-ago quarter and a $0.00 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $2.85 is a $0.14 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $40.76 Billion. If realized, that would be a 23.44% increase over the year-ago quarter. In terms of ratings, Macquarie Initiated T at Outperform (Apr 5, 2016). Previously, Deutsche Bank Initiated T at to Buy. Given all the information above, we should disclose to readers that the average price target is $39.55, which is 2.36% above than it opened this morning. See more in (NYSE:T) Similar Articles: Market Update: Bank of America Corporation (NYSE:BAC) – Bank of America Announces Preliminary Voting Results of 2016 Annual Meeting of Stockholders Stock Update (NYSE:T): AT&T to Release First-Quarter 2016 Earnings April 26, 2016 Company Update (NYSE:T): AT&T, Comcast Could Add Pay-TV Subscribers In 2016
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