AT&T (NYSE:T) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

AT&T Stock Performance

AT&T stock traded down $0.28 during mid-day trading on Thursday, reaching $16.53. 10,405,092 shares of the company’s stock were exchanged, compared to its average volume of 38,954,121. The business’s fifty day simple moving average is $16.98 and its 200 day simple moving average is $16.54. The firm has a market capitalization of $118.24 billion, a PE ratio of 8.46, a P/E/G ratio of 2.49 and a beta of 0.57. AT&T has a one year low of $13.43 and a one year high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. StockNews.com cut AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Tigress Financial upped their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft increased their price target on AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research note on Thursday, January 25th. Finally, Citigroup increased their price target on AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $20.50.

AT&T Company Profile

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.