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

AT&T (NYSE:T) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.15-2.25 for the period, compared to the consensus EPS estimate of $2.20.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on T shares. Moffett Nathanson increased their target price on shares of AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. JPMorgan Chase & Co. raised their price target on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $24.00 to $26.00 and gave the stock a “buy” rating in a report on Friday, June 28th. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a report on Thursday, July 25th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and an average price target of $23.40.

AT&T Stock Down 1.4 %

Shares of T stock traded down $0.32 during trading on Thursday, reaching $22.17. The company’s stock had a trading volume of 16,847,520 shares, compared to its average volume of 35,654,527. The business has a fifty day moving average price of $21.09 and a 200-day moving average price of $19.06. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The company has a market cap of $158.96 billion, a price-to-earnings ratio of 12.71, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. AT&T has a one year low of $14.74 and a one year high of $22.58.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same period in the prior year, the firm posted $0.64 earnings per share. The company’s quarterly revenue was down .5% compared to the same quarter last year. Analysts anticipate that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.01%. AT&T’s dividend payout ratio is currently 63.79%.

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.