AT&T (NYSE:T) Issues Earnings Results

AT&T (NYSE:T) announced its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02, Briefing.com reports. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the business posted $0.60 earnings per share. The company’s revenue for the quarter was down .4% compared to the same quarter last year. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Performance

T traded down $0.23 on Thursday, hitting $16.58. 19,269,450 shares of the company traded hands, compared to its average volume of 39,073,613. The company has a 50 day moving average of $16.98 and a 200-day moving average of $16.54. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock has a market capitalization of $118.59 billion, a PE ratio of 8.44, a PEG ratio of 2.49 and a beta of 0.57. AT&T has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.69%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on T shares. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective for the company in a research note on Tuesday, March 5th. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research report on Friday, January 19th. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Scotiabank lifted their price target on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. Finally, Barclays lifted their price target on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

About AT&T

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.