AT&T Inc. Declares Quarterly Dividend of $0.28 (NYSE:T)

AT&T Inc. (NYSE:T) announced a quarterly dividend on Wednesday, June 26th, RTT News reports. Shareholders of record on Wednesday, July 10th will be paid a dividend of 0.2775 per share by the technology company on Thursday, August 1st. This represents a $1.11 dividend on an annualized basis and a yield of 5.92%.

AT&T has decreased its dividend payment by an average of 18.9% annually over the last three years. AT&T has a payout ratio of 48.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $2.33 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 47.6%.

AT&T Price Performance

T stock traded up $0.07 during trading on Wednesday, reaching $18.76. The company’s stock had a trading volume of 28,672,584 shares, compared to its average volume of 36,811,250. AT&T has a 1 year low of $13.43 and a 1 year high of $18.81. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a market capitalization of $134.51 billion, a P/E ratio of 10.09, a price-to-earnings-growth ratio of 4.25 and a beta of 0.60. The company’s fifty day moving average is $17.42 and its 200-day moving average is $17.13.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.60 earnings per share. On average, research analysts expect that AT&T will post 2.24 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have recently commented on T shares. UBS Group reaffirmed a “buy” rating and set a $24.00 target price on shares of AT&T in a research report on Tuesday, June 18th. BNP Paribas upgraded shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Scotiabank boosted their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday, April 25th. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research report on Friday, May 3rd. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Five equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $21.54.

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.