AT&T (NYSE:T) Issues Quarterly Earnings Results

AT&T (NYSE:T) posted its quarterly earnings data on Wednesday. The technology company reported $0.55 EPS for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Down 1.5 %

T stock traded down $0.26 during midday trading on Thursday, reaching $16.55. 17,892,421 shares of the company were exchanged, compared to its average volume of 39,058,441. The stock’s 50-day simple moving average is $16.98 and its 200 day simple moving average is $16.54. The company has a market cap of $118.38 billion, a price-to-earnings ratio of 8.44, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.71%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 56.63%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a report on Tuesday, March 5th. Scotiabank increased their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a report on Thursday. Citigroup raised their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Finally, Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $20.81.

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.