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Company Update (NYSE:T): AT&T Invests Nearly $100 Million Over 3-Year Period to Enhance Local Networks in Stockton Area

[PR Newswire] – STOCKTON, Calif., June 28, 2016 /PRNewswire/ — At AT&T1, we’ve invested nearly $100 million in our Stockton wireless and wired networks during 2013-2015. “Investments from private companies like AT&T are pivotal for Stockton’s economic success,” said Bob Gutierrez, Chairman of the Board of Directors for the San Joaquin Partnership. In 2016, for the second year in a row, FORTUNE magazine recognized AT&T as the Most Admired Telecommunications Company in the world. We also placed #48 among the Top 50 World’s Most Admired companies in the world. Read more on this. AT&T, Inc. (T) , valued at $258.69B, started the session at $42.14. A quick look at the market, the company’s stock traded between $41.87 and $42.17 with its 52-week range being $30.97 to $42.23. T shares are currently priced at 14.70x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 21.24x earnings multiple. The company pays shareholders $1.92 per share annually in dividends, yielding 4.62%. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $0.72 per share, which would be $0.03 better than the year-ago quarter and a $0.01 sequential decrease. Furthermore, our analysis shows the full-year EPS estimate to be $2.86, which would be a $0.15 better when compared to the last year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $40.76 Billion. If reported, that would be a 23.44% increase over the year-ago quarter. In terms of ratings, Buckingham Research downgraded T from Buy to Neutral (Jun 24, 2016). Previously, Macquarie Initiated T at to Outperform. The average price target for T shares is $39.46, which is 6.36% below where the stock opened this morning. See more in (NYSE:T) Similar Articles: Market Update: AT&T Inc (NYSE:T) – AT&T Invests More Than $825 Million over 3-Year Period To Enhance Local Networks in Wisconsin Company Update: AT&T Inc (NYSE:T) – AT&T Invests Nearly $800 Million Over 3-Year Period to Enhance Local Networks in Nevada Market Update: AT&T Inc (NYSE:T) – AT&T Invests More Than $70 Million Over 3-Year Period to Enhance Local Networks in North Dakota
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