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

AT&T (NYSE:T) announced its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share (EPS) 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 business had revenue of $30.03 billion during the quarter, compared to analysts’ expectations of $30.62 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. The firm’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 Stock Performance

T stock traded up $0.28 during midday trading on Friday, reaching $16.86. 14,307,515 shares of the company’s stock traded hands, compared to its average volume of 39,099,973. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. 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 $120.60 billion, a P/E ratio of 9.03, a PEG ratio of 2.54 and a beta of 0.57. The stock’s 50-day moving average is $16.97 and its 200 day moving average is $16.54.

AT&T Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Investors 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 6.58%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

T has been the topic of several recent analyst reports. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research report on Thursday. Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research report on Thursday. JPMorgan Chase & Co. raised AT&T from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Oppenheimer upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Finally, Barclays increased their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.