AT&T (NYSE:T) Releases FY 2024 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share (EPS) guidance of 2.150-2.250 for the period, compared to the consensus estimate of 2.070. The company issued revenue guidance of -.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Citigroup upped their price target on AT&T from $19.00 to $20.00 and gave the stock a buy rating in a research note on Thursday, February 1st. Wolfe Research upgraded shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price target for the company in a report on Tuesday, March 5th. StockNews.com lowered shares of AT&T from a buy rating to a hold rating in a report on Friday. JPMorgan Chase & Co. upgraded shares of AT&T from a neutral rating to an overweight rating and boosted their target price for the stock from $18.00 to $21.00 in a research note on Thursday, February 1st. Finally, Deutsche Bank Aktiengesellschaft increased their target price on AT&T from $23.00 to $24.00 and gave the company a buy rating in a report on Thursday, January 25th. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of Moderate Buy and a consensus price target of $20.81.

AT&T Price Performance

T traded up $0.17 during midday trading on Tuesday, hitting $17.16. The company had a trading volume of 6,056,060 shares, compared to its average volume of 38,545,090. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.68. The firm’s 50-day simple moving average is $16.98 and its 200-day simple moving average is $16.68. AT&T has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a market capitalization of $123.04 billion, a PE ratio of 9.13, a P/E/G ratio of 3.32 and a beta of 0.57.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. The company had revenue of $30.03 billion for the quarter, compared to analysts’ expectations of $30.62 billion. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The business’s quarterly revenue was down .4% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Equities research analysts predict that AT&T will post 2.24 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.47%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio is presently 59.68%.

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.