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

AT&T (NYSE:T) updated its FY24 earnings guidance on Wednesday. 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. AT&T also updated its FY 2024 guidance to 2.150-2.250 EPS.

AT&T Price Performance

Shares of NYSE T traded down $0.02 during mid-day trading on Thursday, reaching $19.14. The company had a trading volume of 34,825,406 shares, compared to its average volume of 36,737,523. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.06. The stock has a market cap of $137.24 billion, a PE ratio of 10.37, a P/E/G ratio of 3.44 and a beta of 0.58. The company has a 50-day moving average price of $18.25 and a two-hundred day moving average price of $17.44. AT&T has a 1-year low of $13.89 and a 1-year high of $19.74.

AT&T (NYSE:T) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The company’s quarterly revenue was down .3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. On average, equities analysts anticipate that AT&T will post 2.23 earnings per share for the current year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.80%. The ex-dividend date is Wednesday, July 10th. AT&T’s payout ratio is 59.68%.

Analysts Set New Price Targets

T has been the subject of several recent analyst reports. Barclays raised their target price on AT&T from $20.00 to $22.00 and gave the stock an overweight rating in a research report on Thursday. BNP Paribas raised AT&T from an underperform rating to a neutral rating in a research report on Tuesday, June 11th. StockNews.com cut AT&T from a buy rating to a hold rating in a research report on Friday, May 3rd. Scotiabank raised their target price on AT&T from $23.00 to $24.00 and gave the stock a sector outperform rating in a research report on Thursday. Finally, Deutsche Bank Aktiengesellschaft raised their target price on AT&T from $24.00 to $26.00 and gave the stock a buy rating in a research report on Friday, June 28th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average price target of $22.29.

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.