AT&T (T) Expected to Post Quarterly Sales of $39.40 Billion

Wall Street brokerages expect AT&T (NYSE:T) to announce sales of $39.40 billion for the current fiscal quarter, Zacks reports. Sixteen analysts have provided estimates for AT&T’s earnings. The lowest sales estimate is $38.86 billion and the highest is $40.53 billion. AT&T reported sales of $39.37 billion in the same quarter last year, which would suggest a positive year over year growth rate of 0.1%. The business is scheduled to announce its next earnings results after the market closes on Wednesday, April 25th.

According to Zacks, analysts expect that AT&T will report full-year sales of $39.40 billion for the current year, with estimates ranging from $157.77 billion to $163.09 billion. For the next year, analysts forecast that the business will report sales of $160.90 billion per share, with estimates ranging from $155.33 billion to $167.53 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of research analysts that cover AT&T.

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AT&T (NYSE:T) last released its quarterly earnings data on Wednesday, January 31st. The technology company reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.65 by $0.13. The business had revenue of $41.68 billion for the quarter, compared to analyst estimates of $41.21 billion. AT&T had a return on equity of 14.55% and a net margin of 18.34%. AT&T’s revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.66 earnings per share.

T has been the subject of several research reports. Zacks Investment Research upgraded AT&T from a “sell” rating to a “hold” rating in a research report on Friday, January 12th. Wells Fargo dropped their target price on AT&T from $48.00 to $40.00 and set an “outperform” rating for the company in a research report on Friday, March 23rd. KeyCorp increased their target price on AT&T from $35.00 to $38.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. Vetr upgraded AT&T from a “hold” rating to a “buy” rating and set a $39.38 target price for the company in a research report on Wednesday, January 3rd. Finally, ValuEngine downgraded AT&T from a “buy” rating to a “hold” rating in a research report on Sunday, December 31st. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average target price of $41.56.

NYSE:T traded down $0.51 during trading hours on Monday, hitting $35.63. The company’s stock had a trading volume of 25,108,300 shares, compared to its average volume of 23,540,180. The firm has a market capitalization of $221,863.45, a PE ratio of 11.68, a price-to-earnings-growth ratio of 2.49 and a beta of 0.39. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.89. AT&T has a twelve month low of $32.55 and a twelve month high of $40.86.

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, April 9th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 5.61%. AT&T’s dividend payout ratio (DPR) is 65.57%.

In other AT&T news, CEO John Donovan bought 27,997 shares of the stock in a transaction on Friday, February 9th. The stock was acquired at an average cost of $35.68 per share, for a total transaction of $998,932.96. Following the completion of the acquisition, the chief executive officer now owns 179,834 shares in the company, valued at approximately $6,416,477.12. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Richard W. Fisher bought 2,600 shares of the stock in a transaction on Monday, February 5th. The stock was acquired at an average price of $38.10 per share, with a total value of $99,060.00. Following the completion of the acquisition, the director now owns 2,600 shares of the company’s stock, valued at approximately $99,060. The disclosure for this purchase can be found here. 0.09% of the stock is owned by company insiders.

Hedge funds have recently modified their holdings of the business. Beach Investment Management LLC. acquired a new stake in AT&T in the second quarter valued at approximately $1,132,000. Venturi Wealth Management LLC boosted its position in shares of AT&T by 29.6% during the second quarter. Venturi Wealth Management LLC now owns 10,002 shares of the technology company’s stock valued at $377,000 after buying an additional 2,285 shares during the last quarter. Fagan Associates Inc. boosted its position in shares of AT&T by 12.7% during the second quarter. Fagan Associates Inc. now owns 29,313 shares of the technology company’s stock valued at $1,106,000 after buying an additional 3,307 shares during the last quarter. Bush Odonnell Investment Advisors Inc. purchased a new position in shares of AT&T during the second quarter valued at approximately $266,000. Finally, Syntal Capital Partners LLC purchased a new position in shares of AT&T during the second quarter valued at approximately $211,000. Institutional investors and hedge funds own 55.94% of the company’s stock.

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AT&T Company Profile

AT&T Inc provides communications and digital entertainment services. The company operates through four segments: Business Solutions, Entertainment Group, Consumer Mobility, and International. The Business Solutions segment offers wireless services, strategic services, legacy voice, data services, wireless equipment, and other services to multinational companies, governmental and wholesale customers, and individual subscribers.

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Earnings History and Estimates for AT&T (NYSE:T)

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