AT&T (NYSE:T) Releases FY21 Earnings Guidance

AT&T (NYSE:T) updated its FY21 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $3.21-3.34 for the period, compared to the Thomson Reuters consensus estimate of $3.14. The company issued revenue guidance of $175.19-176.91 billion, compared to the consensus revenue estimate of $173.93 billion.AT&T also updated its FY 2021 guidance to EPS.

Several brokerages have commented on T. Morgan Stanley cut shares of AT&T to an equal weight rating and set a $29.00 price target on the stock. in a research report on Friday, July 16th. UBS Group upgraded shares of AT&T from a neutral rating to a buy rating and boosted their price target for the stock from $32.00 to $35.00 in a research report on Friday, May 21st. Raymond James boosted their price target on shares of AT&T from $32.00 to $33.00 and gave the stock an outperform rating in a research report on Friday, April 23rd. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $31.00 to $34.00 in a research report on Wednesday, April 28th. Finally, Barclays lifted their price target on AT&T from $31.00 to $34.00 and gave the stock an equal weight rating in a research note on Friday, April 23rd. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have issued a buy rating to the stock. The company presently has a consensus rating of Hold and a consensus price target of $31.39.

Shares of NYSE T opened at $27.90 on Thursday. The company has a market cap of $199.21 billion, a PE ratio of -79.71, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79. The firm has a 50 day moving average price of $29.14. AT&T has a 52 week low of $26.35 and a 52 week high of $33.88. The company has a current ratio of 0.82, a quick ratio of 0.78 and a debt-to-equity ratio of 0.88.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, April 21st. The technology company reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The business had revenue of $43.90 billion during the quarter, compared to analysts’ expectations of $42.69 billion. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The firm’s quarterly revenue was up 2.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.84 EPS. Analysts predict that AT&T will post 3.17 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Investors of record on Friday, July 9th will be paid a $0.52 dividend. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.46%. AT&T’s payout ratio is 65.41%.

In related news, CEO John T. Stankey bought 34,614 shares of AT&T stock in a transaction that occurred on Wednesday, May 19th. The stock was purchased at an average cost of $28.81 per share, for a total transaction of $997,229.34. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Pascal Desroches bought 3,056 shares of AT&T stock in a transaction that occurred on Wednesday, May 19th. The stock was bought at an average price of $29.06 per share, with a total value of $88,807.36. Following the completion of the acquisition, the chief financial officer now owns 173,871 shares in the company, valued at approximately $5,052,691.26. The disclosure for this purchase can be found here. Insiders own 0.08% of the company’s stock.

A hedge fund recently bought a new stake in AT&T stock. Camden National Bank bought a new position in AT&T Inc. (NYSE:T) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 9,675 shares of the technology company’s stock, valued at approximately $278,000. 50.40% of the stock is owned by institutional investors.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Earnings History and Estimates for AT&T (NYSE:T)

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