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 $2.22.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Royal Bank of Canada reaffirmed a sector perform rating and set a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. StockNews.com upgraded AT&T from a hold rating to a buy rating in a report on Thursday. TheStreet upgraded AT&T from a c rating to a b- rating in a report on Wednesday, January 24th. Barclays boosted their price target on AT&T from $17.00 to $20.00 and gave the company an equal weight rating in a report on Wednesday, January 31st. Finally, Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $20.81.

AT&T Price Performance

Shares of T opened at $16.75 on Friday. The business’s 50-day moving average is $16.96 and its two-hundred day moving average is $16.56. The company has a market capitalization of $119.77 billion, a P/E ratio of 9.00, a P/E/G ratio of 2.50 and a beta of 0.57. 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 has a fifty-two week low of $13.43 and a fifty-two week high of $18.16.

AT&T (NYSE:T) last issued its quarterly earnings results 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. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company posted $0.60 EPS. AT&T’s quarterly revenue was down .4% compared to the same quarter last year. Research analysts predict that AT&T will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 annualized dividend and a yield of 6.63%. AT&T’s dividend payout ratio (DPR) is presently 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.