AT&T (NYSE:T) Updates FY 2024 Earnings Guidance

AT&T (NYSE:T) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.150-2.250 for the period, compared to the consensus EPS estimate of 2.200. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

T has been the subject of several analyst reports. Evercore ISI boosted their price objective on AT&T from $18.00 to $19.00 and gave the stock an in-line rating in a research report on Thursday, July 25th. Daiwa America raised AT&T to a hold rating in a research note on Friday, July 26th. Scotiabank cut AT&T from a strong-buy rating to a hold rating in a research note on Tuesday, August 6th. TD Cowen lifted their price objective on shares of AT&T from $21.00 to $23.00 and gave the company a hold rating in a research note on Thursday, July 25th. Finally, BNP Paribas raised shares of AT&T from an underperform rating to a neutral rating in a report on Tuesday, June 11th. Nine analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $22.31.

AT&T Trading Down 1.2 %

AT&T stock opened at $21.45 on Thursday. AT&T has a 1 year low of $14.12 and a 1 year high of $21.86. The firm’s 50 day moving average price is $19.47 and its two-hundred day moving average price is $18.11. The firm has a market cap of $153.80 billion, a price-to-earnings ratio of 11.53, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the previous year, the firm posted $0.63 EPS. The company’s quarterly revenue was down .3% on a year-over-year basis. On average, research analysts predict that AT&T will post 2.2 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. The ex-dividend date was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.17%. AT&T’s payout ratio 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.