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

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

AT&T Stock Up 1.8 %

Shares of T traded up $0.30 during midday trading on Friday, hitting $16.88. The stock had a trading volume of 15,561,110 shares, compared to its average volume of 39,118,551. The firm has a market cap of $120.74 billion, a price-to-earnings ratio of 9.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57. The company has a 50 day simple moving average of $16.97 and a two-hundred day simple moving average of $16.54. AT&T has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.67.

AT&T Dividend Announcement

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 paid a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.58%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is presently 59.68%.

Analyst Ratings Changes

A number of research firms have recently issued reports on T. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research report on Friday, January 19th. 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. Barclays upped their target price 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. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Finally, StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average 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.