AT&T (NYSE:T) Releases FY24 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. 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 Price Performance

T traded down $0.26 during trading on Thursday, reaching $16.55. 17,892,421 shares of the stock were exchanged, compared to its average volume of 39,058,441. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. The company has a market capitalization of $118.38 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57. AT&T has a 1 year low of $13.43 and a 1 year high of $18.16. The business’s 50 day moving average price is $16.98 and its two-hundred day moving average price is $16.54.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. As a group, equities research analysts anticipate that AT&T will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.71%. AT&T’s dividend payout ratio (DPR) is 56.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. StockNews.com cut AT&T from a buy rating to a hold rating in a report on Thursday, April 4th. Scotiabank upped their target price on AT&T from $22.00 to $22.50 and gave the company a sector outperform rating in a research note on Thursday. Finally, TheStreet raised AT&T from a c rating to a b- rating in a research note on Wednesday, January 24th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average target price of $20.81.

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.