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

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.15-2.25 for the period, compared to the consensus EPS estimate of $2.20.

AT&T Price Performance

T stock opened at $21.84 on Friday. AT&T has a 52-week low of $14.74 and a 52-week high of $22.58. The company has a fifty day moving average price of $21.20 and a 200-day moving average price of $19.12. The company has a market capitalization of $156.60 billion, a P/E ratio of 11.74, a PEG ratio of 3.67 and a beta of 0.60. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70.

AT&T (NYSE:T) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same quarter last year, the firm earned $0.64 earnings per share. AT&T’s quarterly revenue was down .5% on a year-over-year basis. As a group, equities analysts expect that AT&T will post 2.22 EPS for the current year.

AT&T Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio is presently 59.68%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on T shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. TD Cowen lifted their price target on shares of AT&T from $21.00 to $23.00 and gave the company a “hold” rating in a research note on Thursday, July 25th. Hsbc Global Res raised shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company decreased their price target on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday. One analyst has rated the stock with a sell rating, eight have given a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.40.

About AT&T

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.