AT&T (NYSE:T) Issues Quarterly Earnings Results

AT&T (NYSE:T) released its quarterly earnings data on Wednesday. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same period last year, the company posted $0.60 earnings per share. The firm’s revenue was down .4% compared to the same quarter last year. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Price Performance

NYSE T opened at $16.59 on Friday. The stock has a market capitalization of $118.63 billion, a P/E ratio of 8.92, a P/E/G ratio of 2.54 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 fifty day moving average is $16.97 and its two-hundred day moving average is $16.54. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68.

AT&T Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.69%. AT&T’s dividend payout ratio is currently 59.68%.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on T. Oppenheimer raised AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a research report on Friday, January 19th. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Scotiabank lifted their target price on AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a research report on Thursday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and a consensus 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.