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

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

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $23.00 to $24.00 and gave the company a buy rating in a research note on Thursday, January 25th. Citigroup boosted their target price on AT&T from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, February 1st. TheStreet raised AT&T from a c rating to a b- rating in a research note on Wednesday, January 24th. Tigress Financial boosted their price target on AT&T from $28.00 to $29.00 and gave the stock a buy rating in a report on Wednesday, January 31st. Finally, StockNews.com upgraded AT&T from a hold rating to a buy rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $20.81.

AT&T Price Performance

AT&T stock opened at $16.75 on Friday. The stock has a market capitalization of $119.77 billion, a price-to-earnings ratio of 9.00, a PEG ratio of 2.50 and a beta of 0.57. AT&T has a 52-week low of $13.43 and a 52-week high of $18.16. The stock’s 50 day moving average price is $16.96 and its two-hundred day moving average price is $16.56. 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 quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s revenue for the quarter was down .4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.60 EPS. On average, equities analysts predict that AT&T will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

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.