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

AT&T (NYSE:T) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.250 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on T. JPMorgan Chase & Co. raised their target price on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Evercore ISI boosted their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a report on Thursday, October 24th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Finally, TD Cowen upped their price objective on shares of AT&T from $21.00 to $23.00 and gave the stock a “hold” rating in a report on Thursday, July 25th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $23.40.

AT&T Stock Performance

T traded up $0.02 during midday trading on Monday, hitting $22.14. 1,881,808 shares of the company traded hands, compared to its average volume of 35,625,992. The company’s 50-day moving average is $21.47 and its 200 day moving average is $19.36. AT&T has a 52 week low of $15.46 and a 52 week high of $22.73. The firm has a market capitalization of $158.86 billion, a PE ratio of 17.98, a price-to-earnings-growth ratio of 3.38 and a beta of 0.59. The company has a quick ratio of 0.67, a current ratio of 0.73 and a debt-to-equity ratio of 1.09.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a net margin of 7.42% and a return on equity of 13.97%. The firm’s revenue for the quarter was down .5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 earnings per share. On average, research analysts expect that AT&T will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Thursday, October 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.01%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s dividend payout ratio is 90.24%.

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.