AT&T (NYSE:T) Announces Quarterly Earnings Results, Beats Estimates By $0.02 EPS

AT&T (NYSE:T) posted its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. 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 business’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter last year, the company posted $0.60 EPS. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Performance

Shares of T stock traded down $0.28 during trading on Thursday, reaching $16.53. The company had a trading volume of 10,405,092 shares, compared to its average volume of 38,954,121. The firm’s 50 day simple moving average is $16.98 and its two-hundred day simple moving average is $16.54. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.71 and a quick ratio of 0.67. AT&T has a one year low of $13.43 and a one year high of $18.16. The company has a market capitalization of $118.24 billion, a PE ratio of 8.46, a PEG ratio of 2.49 and a beta of 0.57.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given 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 6.72%. AT&T’s dividend payout ratio (DPR) is 56.63%.

Wall Street Analyst Weigh In

A number of brokerages have commented on T. Tigress Financial lifted their price objective on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research note on Wednesday, January 31st. Citigroup upped their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Barclays increased their target price on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 31st. Finally, JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $20.50.

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.