Up Over 60% in the Past Year, Is It Too Late to Buy AT&T Stock?
AT&T (NYSE: T) is a leading telecom company in the country -- and as it has exited the streaming and media businesses and refocused on its core operations, it has been proving to be a solid investment again. This year, the stock is up around 19%, proving an excellent buy even as the markets have struggled.Over the past 12 months, its gains extend to 62%. Can the stock build on this rally and go even higher, or is it too late to invest in AT&T?When a stock rallies as significantly as AT&T has, it begs the question of whether it's too late to invest in it. Given its mammoth gains over the past year, the stock now trades at a price-to-earnings (P/E) multiple of nearly 17. That's well above what it has averaged over the past three years when investors were paying around 11 times its trailing earnings.Continue reading
AT&T (NYSE: T) is a leading telecom company in the country -- and as it has exited the streaming and media businesses and refocused on its core operations, it has been proving to be a solid investment again. This year, the stock is up around 19%, proving an excellent buy even as the markets have struggled.
Over the past 12 months, its gains extend to 62%. Can the stock build on this rally and go even higher, or is it too late to invest in AT&T?
When a stock rallies as significantly as AT&T has, it begs the question of whether it's too late to invest in it. Given its mammoth gains over the past year, the stock now trades at a price-to-earnings (P/E) multiple of nearly 17. That's well above what it has averaged over the past three years when investors were paying around 11 times its trailing earnings.
