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

AT&T (NYSE:T) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.22.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a sector perform rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. TheStreet raised shares of AT&T from a c rating to a b- rating in a research note on Wednesday, January 24th. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the company an equal weight rating in a research note on Wednesday, January 31st. JPMorgan Chase & Co. raised shares of AT&T from a neutral rating to an overweight rating and increased their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Oppenheimer raised shares of AT&T from a market perform rating to an outperform rating and set a $21.00 price target on the stock in a research note on Friday, January 19th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $20.50.

AT&T Trading Up 1.9 %

T stock traded up $0.31 during midday trading on Wednesday, reaching $16.81. The company’s stock had a trading volume of 74,184,828 shares, compared to its average volume of 39,342,547. AT&T has a 52 week low of $13.43 and a 52 week high of $18.16. The stock has a market cap of $120.24 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The business’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $16.54.

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. AT&T’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.61 earnings per share. As a group, sell-side analysts expect that AT&T will post 2.21 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.60%. AT&T’s dividend payout ratio is 56.63%.

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.