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

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

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on T. JPMorgan Chase & Co. upgraded shares of AT&T from a neutral rating to an overweight rating and lifted their target price for the company from $18.00 to $21.00 in a research note on Thursday, February 1st. Citigroup lifted their target price on AT&T from $19.00 to $20.00 and gave the company a buy rating in a research note on Thursday, February 1st. StockNews.com downgraded AT&T from a buy rating to a hold rating in a research note on Thursday, April 4th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a buy rating in a research report on Thursday, January 25th. Finally, Wolfe Research upgraded shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of Moderate Buy and an average target price of $20.50.

AT&T Stock Performance

NYSE T opened at $16.51 on Wednesday. The stock has a market capitalization of $118.09 billion, a PE ratio of 8.42, a P/E/G ratio of 2.46 and a beta of 0.57. The business has a 50 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 current ratio of 0.71 and a quick ratio of 0.67. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion for the quarter, compared to analysts’ expectations of $31.44 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.61 EPS. On average, research analysts predict that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio is presently 56.63%.

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.