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

AT&T (NYSE:T) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.22.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. TheStreet upgraded shares of AT&T from a c rating to a b- rating in a report on Wednesday, January 24th. StockNews.com cut AT&T from a buy rating to a hold rating in a research note on Thursday, April 4th. Citigroup upped their price target on shares of AT&T from $19.00 to $20.00 and gave the company a buy rating in a report on Thursday, February 1st. Wolfe Research raised shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price objective for the company in a report on Tuesday, March 5th. Finally, Royal Bank of Canada restated a sector perform rating and issued a $17.00 target price on shares of AT&T in a research note on Thursday, April 11th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average price target of $20.81.

AT&T Stock Performance

NYSE:T traded down $0.26 during mid-day trading on Thursday, hitting $16.55. The stock had a trading volume of 17,892,421 shares, compared to its average volume of 39,058,441. The company has a 50 day simple moving average of $16.98 and a 200-day simple moving average of $16.54. The stock 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. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. AT&T has a 52 week low of $13.43 and a 52 week high of $18.16.

AT&T (NYSE:T) last posted its earnings results on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. During the same period last year, the firm earned $0.60 EPS. The firm’s revenue was down .4% compared to the same quarter last year. On average, research analysts expect that AT&T will post 2.21 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced 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 yield of 6.71%. AT&T’s dividend payout ratio is presently 56.63%.

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.