AT&T (NYSE:T) Releases Earnings Results, Beats Expectations By $0.10 EPS

AT&T (NYSE:T) released its quarterly earnings data on Thursday. The technology company reported $0.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.10, MarketWatch Earnings reports. AT&T had a negative net margin of 1.29% and a positive return on equity of 12.33%. The company had revenue of $44.05 billion during the quarter, compared to the consensus estimate of $42.39 billion. During the same quarter in the prior year, the firm posted $0.83 earnings per share. AT&T’s revenue for the quarter was up 7.6% on a year-over-year basis. AT&T updated its FY 2021 guidance to EPS and its FY21 guidance to $3.21-3.34 EPS.

NYSE:T traded up $0.14 during trading hours on Thursday, reaching $28.04. 1,293,031 shares of the company traded hands, compared to its average volume of 30,837,840. The firm’s 50-day simple moving average is $29.14. The stock has a market capitalization of $200.21 billion, a PE ratio of -79.97, a P/E/G ratio of 2.76 and a beta of 0.79. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.78 and a current ratio of 0.82. AT&T has a 1-year low of $26.35 and a 1-year high of $33.88.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be paid a $0.52 dividend. This represents a $2.08 annualized dividend and a yield of 7.42%. The ex-dividend date is Thursday, July 8th. AT&T’s payout ratio is currently 65.41%.

In other AT&T news, CFO Pascal Desroches acquired 3,056 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The shares were acquired at an average price of $29.06 per share, for a total transaction of $88,807.36. Following the completion of the acquisition, the chief financial officer now directly owns 173,871 shares of the company’s stock, valued at $5,052,691.26. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John T. Stankey acquired 34,614 shares of the firm’s stock in a transaction dated Wednesday, May 19th. The shares were acquired at an average price of $28.81 per share, for a total transaction of $997,229.34. The disclosure for this purchase can be found here. 0.08% of the stock is currently owned by corporate insiders.

A hedge fund recently bought a new stake in AT&T stock. OLD Mission Capital LLC bought a new position in AT&T Inc. (NYSE:T) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 15,890 shares of the technology company’s stock, valued at approximately $453,000. Institutional investors and hedge funds own 50.40% of the company’s stock.

T has been the topic of a number of recent research reports. Redburn Partners started coverage on shares of AT&T in a report on Friday, June 25th. They issued a “sell” rating and a $23.00 target price on the stock. Scotiabank upgraded shares of AT&T from a “sector underperform” rating to a “sector perform” rating and lifted their price objective for the company from $28.00 to $31.00 in a research note on Wednesday, June 16th. Barclays upped their target price on shares of AT&T from $31.00 to $34.00 and gave the company an “equal weight” rating in a report on Friday, April 23rd. Raymond James raised their price target on AT&T from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, April 23rd. Finally, New Street Research raised AT&T from a “neutral” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Friday, May 21st. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $31.39.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Earnings History for AT&T (NYSE:T)

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