AT&T (NYSE:T) Announces Quarterly Earnings Results

AT&T (NYSE:T) announced its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 EPS. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Trading Up 1.6 %

Shares of NYSE T traded up $0.27 on Friday, reaching $16.85. 19,041,227 shares of the company traded hands, compared to its average volume of 39,170,531. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a 50 day moving average of $16.97 and a 200 day moving average of $16.54. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $120.52 billion, a PE ratio of 9.03, a P/E/G ratio of 2.54 and a beta of 0.57.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a yield of 6.59%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analyst Weigh In

T has been the topic of several recent research reports. Scotiabank boosted their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Tuesday, March 5th. Barclays boosted their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft boosted their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research report on Thursday, January 25th. Finally, Citigroup boosted their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, AT&T presently has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

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.