AT&T (NYSE:T) Updates 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 $2.20.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the company. Citigroup upped their price objective on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, September 11th. Redburn Atlantic raised shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. JPMorgan Chase & Co. increased their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Wells Fargo & Company boosted their price objective on AT&T from $22.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, Moffett Nathanson boosted their target price on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $22.69.

AT&T Price Performance

T opened at $21.51 on Wednesday. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The business’s fifty day simple moving average is $21.03 and its 200-day simple moving average is $19.04. The company has a market capitalization of $154.23 billion, a price-to-earnings ratio of 12.36, a PEG ratio of 3.73 and a beta of 0.60. AT&T has a 12-month low of $14.74 and a 12-month high of $22.34.

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 the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. During the same period in the prior year, the business earned $0.63 EPS. The firm’s quarterly revenue was down .3% on a year-over-year basis. On average, equities research analysts anticipate that AT&T will post 2.22 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.16%. The ex-dividend date is Thursday, October 10th. AT&T’s payout ratio is 63.79%.

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.