AT&T (NYSE:T) Posts Earnings Results, Beats Expectations By $0.02 EPS

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

AT&T Price Performance

Shares of AT&T stock opened at $16.59 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. The company’s 50-day moving average price is $16.97 and its two-hundred day moving average price is $16.54. AT&T has a 52 week low of $13.43 and a 52 week high of $18.16. The stock has a market cap of $118.63 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57.

AT&T Dividend Announcement

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

Analyst Ratings Changes

T has been the subject of a number of research reports. Citigroup lifted their price objective on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, January 25th. 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. Royal Bank of Canada reissued a “sector perform” rating and set a $17.00 price target on shares of AT&T in a report on Thursday, April 11th. Finally, TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.81.

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.