Brokerages Expect AT&T Inc. (T) Will Post Quarterly Sales of $45.56 Billion

Analysts expect AT&T Inc. (NYSE:T) to report sales of $45.56 billion for the current quarter, Zacks Investment Research reports. Thirteen analysts have issued estimates for AT&T’s earnings, with estimates ranging from $44.10 billion to $46.26 billion. AT&T reported sales of $39.67 billion in the same quarter last year, which indicates a positive year over year growth rate of 14.8%. The company is expected to report its next earnings report before the market opens on Wednesday, October 24th.

According to Zacks, analysts expect that AT&T will report full-year sales of $174.62 billion for the current year, with estimates ranging from $169.84 billion to $184.31 billion. For the next financial year, analysts expect that the firm will report sales of $185.75 billion, with estimates ranging from $182.08 billion to $187.32 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow AT&T.

AT&T (NYSE:T) last released its earnings results on Tuesday, July 24th. The technology company reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The firm had revenue of $38.99 billion for the quarter, compared to analysts’ expectations of $38.45 billion. AT&T had a net margin of 20.12% and a return on equity of 13.64%. The company’s quarterly revenue was down 2.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.79 earnings per share.

Several analysts have recently issued reports on T shares. Moffett Nathanson lowered shares of AT&T from a “neutral” rating to a “sell” rating and lowered their price target for the company from $35.00 to $28.00 in a research report on Wednesday, June 13th. UBS Group raised shares of AT&T from a “market perform” rating to an “outperform” rating in a research report on Wednesday, June 13th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $41.00 price target on the stock in a research report on Wednesday, June 13th. JPMorgan Chase & Co. started coverage on shares of AT&T in a research report on Tuesday, June 19th. They issued a “neutral” rating and a $36.00 price target on the stock. Finally, Morgan Stanley reissued an “overweight” rating and issued a $37.00 price target on shares of AT&T in a research report on Wednesday, June 27th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. AT&T presently has an average rating of “Hold” and an average price target of $38.09.

T opened at $34.11 on Tuesday. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.81 and a current ratio of 0.81. The stock has a market capitalization of $206.15 billion, a price-to-earnings ratio of 11.16, a P/E/G ratio of 2.67 and a beta of 0.39. AT&T has a twelve month low of $30.13 and a twelve month high of $39.33.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 5.86%. The ex-dividend date of this dividend is Tuesday, October 9th. AT&T’s dividend payout ratio (DPR) is presently 65.57%.

In other news, Director Matthew K. Rose bought 65,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 26th. The shares were acquired at an average price of $30.51 per share, with a total value of $1,998,405.00. Following the acquisition, the director now owns 81,319 shares of the company’s stock, valued at approximately $2,481,042.69. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Piazza Samuel A. Jr. Di bought 7,690 shares of the firm’s stock in a transaction that occurred on Wednesday, August 8th. The shares were purchased at an average cost of $32.48 per share, for a total transaction of $249,771.20. Following the acquisition, the director now directly owns 31,405 shares in the company, valued at approximately $1,020,034.40. The disclosure for this purchase can be found here. Corporate insiders own 0.09% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its holdings in shares of AT&T by 21.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 72,724,434 shares of the technology company’s stock worth $2,335,182,000 after buying an additional 12,709,982 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of AT&T by 17.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 82,556,205 shares of the technology company’s stock worth $2,650,940,000 after buying an additional 11,990,755 shares during the last quarter. BlackRock Inc. increased its holdings in shares of AT&T by 2.8% in the 1st quarter. BlackRock Inc. now owns 387,352,856 shares of the technology company’s stock worth $13,809,130,000 after buying an additional 10,535,763 shares during the last quarter. Northern Trust Corp increased its holdings in shares of AT&T by 13.7% in the 2nd quarter. Northern Trust Corp now owns 83,934,430 shares of the technology company’s stock worth $2,695,135,000 after buying an additional 10,082,798 shares during the last quarter. Finally, Charles Schwab Investment Advisory Inc. bought a new position in shares of AT&T in the 2nd quarter worth $321,448,000. 64.63% of the stock is currently owned by institutional investors and hedge funds.

AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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