AT&T (NYSE:T) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

AT&T Price Performance

Shares of T traded up $0.28 during mid-day trading on Friday, hitting $16.86. 14,307,515 shares of the company traded hands, compared to its average volume of 39,099,973. 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 $120.60 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 2.54 and a beta of 0.57. The business has a 50-day moving average of $16.97 and a 200 day moving average of $16.54. AT&T has a one year low of $13.43 and a one year high of $18.16.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 59.68%.

Analysts Set New Price Targets

Several brokerages have recently commented on T. Citigroup increased their price target 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. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Tigress Financial increased their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $20.81.

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.