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. AT&T also updated its FY 2024 guidance to 2.150-2.250 EPS.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Evercore ISI lifted their price target on AT&T from $18.00 to $19.00 and gave the stock an in-line rating in a report on Thursday. BNP Paribas raised AT&T from an underperform rating to a neutral rating in a report on Tuesday, June 11th. JPMorgan Chase & Co. boosted their target price on AT&T from $21.00 to $24.00 and gave the company an overweight rating in a report on Thursday. Deutsche Bank Aktiengesellschaft boosted their target price on AT&T from $24.00 to $26.00 and gave the company a buy rating in a report on Friday, June 28th. Finally, Scotiabank boosted their target price on AT&T from $23.00 to $24.00 and gave the company a sector outperform rating in a report on Thursday. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus target price of $22.33.

AT&T Stock Down 0.9 %

Shares of NYSE T opened at $19.01 on Friday. AT&T has a 12-month low of $13.89 and a 12-month high of $19.74. The company has a market cap of $136.30 billion, a P/E ratio of 10.22, a P/E/G ratio of 3.69 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05. The stock has a fifty day moving average price of $18.32 and a 200 day moving average price of $17.46.

AT&T (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company’s revenue was down .3% on a year-over-year basis. During the same period last year, the firm earned $0.63 earnings per share. Research analysts anticipate that AT&T will post 2.2 EPS for the current fiscal year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $1.11 annualized dividend and a dividend yield of 5.84%. AT&T’s payout ratio is 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.