AT&T (NYSE:T) Releases FY24 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.22.

AT&T Stock Performance

AT&T stock traded up $0.31 during midday trading on Wednesday, hitting $16.81. 74,184,828 shares of the company were exchanged, compared to its average volume of 39,342,547. The firm has a market capitalization of $120.24 billion, a PE ratio of 8.38, a price-to-earnings-growth ratio of 2.46 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 business has a fifty day simple moving average of $16.98 and a two-hundred day simple moving average of $16.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). The business had revenue of $32 billion during the quarter, compared to analyst estimates of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 earnings per share. On average, sell-side analysts forecast that AT&T will post 2.21 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.60%. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on T shares. Barclays raised their target price on AT&T from $17.00 to $20.00 and gave the stock an equal weight rating in a research note on Wednesday, January 31st. TheStreet raised AT&T from a c rating to a b- rating in a research note on Wednesday, January 24th. Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 price objective on the stock in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on AT&T from $23.00 to $24.00 and gave the company a buy rating in a report on Thursday, January 25th. Finally, JPMorgan Chase & Co. upgraded AT&T from a neutral rating to an overweight rating and boosted their price objective for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average price target of $20.50.

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.