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

by · The Markets Daily

AT&T (NYSE:T – Get Free Report) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.20.

AT&T Price Performance

Shares of T stock traded down $0.06 during midday trading on Friday, reaching $22.14. 8,860,797 shares of the company traded hands, compared to its average volume of 35,631,055. The firm has a market cap of $158.75 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm’s 50 day simple moving average is $21.15 and its two-hundred day simple moving average is $19.08. AT&T has a 1-year low of $14.74 and a 1-year high of $22.58.

AT&T (NYSE:T – Get Free Report) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the business earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, equities research analysts expect that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

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

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. TD Cowen increased their target price on AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a research report on Thursday, July 25th. Wells Fargo & Company cut their price objective on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday. Barclays boosted their target price on shares of AT&T from $22.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday. Evercore ISI lifted their price target on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday. Finally, Scotiabank cut shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

Read Our Latest Analysis on AT&T

About AT&T

(Get Free Report)

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.

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