AT&T (NYSE:T) Announces Quarterly Earnings Results

AT&T (NYSE:T) released its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, Briefing.com reports. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s quarterly revenue was down .4% compared to the same quarter last year. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Trading Up 1.2 %

T stock traded up $0.20 during mid-day trading on Friday, reaching $16.78. 7,911,641 shares of the stock traded hands, compared to its average volume of 39,024,836. The business has a 50-day moving average price of $16.97 and a two-hundred day moving average price of $16.54. The stock has a market capitalization of $120.02 billion, a PE ratio of 8.92, a PEG ratio of 2.54 and a beta of 0.57. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68. AT&T has a one year low of $13.43 and a one year high of $18.16.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.62%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on T. Citigroup boosted their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a report on Thursday, February 1st. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Friday, January 19th. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. Scotiabank increased their target price on AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday. Finally, Deutsche Bank Aktiengesellschaft increased their target price 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. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus 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.