AT&T (NYSE:T) Issues FY24 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.15-2.25 for the period, compared to the consensus earnings per share estimate of $2.22.

AT&T Stock Performance

NYSE T traded up $0.28 on Friday, hitting $16.86. 18,000,028 shares of the stock traded hands, compared to its average volume of 39,162,395. The business’s fifty day moving average is $16.97 and its two-hundred day moving average is $16.54. AT&T has a 12 month low of $13.43 and a 12 month high of $18.16. The firm has a market capitalization of $120.60 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.60 earnings per share. As a group, equities analysts anticipate that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.58%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded AT&T from a neutral rating to an overweight rating and raised their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Barclays upped 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. StockNews.com upgraded AT&T from a hold rating to a buy rating in a report on Thursday. TheStreet upgraded AT&T from a c rating to a b- rating in a report on Wednesday, January 24th. Finally, Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 price objective for the company in a report on Friday, January 19th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, AT&T has an average rating of Moderate Buy and an average target price of $20.81.

AT&T Company Profile

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.