AT&T (NYSE:T) Updates FY 2024 Earnings Guidance

AT&T (NYSE:T) updated its FY 2024 earnings guidance on Saturday. The company provided earnings per share guidance of 2.150-2.250 for the period, compared to the consensus earnings per share estimate of 2.070. The company issued revenue guidance of -.

AT&T Stock Performance

Shares of T traded up $0.08 during trading hours on Tuesday, hitting $17.07. The stock had a trading volume of 7,485,983 shares, compared to its average volume of 38,573,574. The firm has a 50-day moving average price of $16.98 and a 200 day moving average price of $16.68. The firm has a market capitalization of $122.39 billion, a price-to-earnings ratio of 9.13, a PEG ratio of 3.32 and a beta of 0.57. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The company’s revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 earnings per share. As a group, research analysts anticipate that AT&T will post 2.24 EPS for the current year.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were given a $0.2775 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.50%. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised shares of AT&T from a neutral rating to an overweight rating and increased their price target for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. TheStreet upgraded shares of AT&T from a c rating to a b- rating in a report on Wednesday, January 24th. Wolfe Research upgraded shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Tigress Financial raised their price objective on shares of AT&T from $28.00 to $29.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, Deutsche Bank Aktiengesellschaft lifted 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. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target 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.