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

AT&T (NYSE:T) updated its FY 2024 earnings guidance on Wednesday. The company provided earnings per share guidance of 2.150-2.250 for the period, compared to the consensus earnings per share estimate of 2.220. The company issued revenue guidance of -. AT&T also updated its FY24 guidance to $2.15-2.25 EPS.

Analyst Ratings Changes

A number of research firms recently commented on T. Royal Bank of Canada upped their price objective on AT&T from $18.00 to $19.00 and gave the company a sector perform rating in a research report on Thursday. BNP Paribas upgraded shares of AT&T from an underperform rating to a neutral rating in a research note on Tuesday, June 11th. TD Cowen increased their price target on shares of AT&T from $21.00 to $23.00 and gave the stock a hold rating in a research report on Thursday. 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 report on Friday, June 28th. Finally, JPMorgan Chase & Co. upped their price target on AT&T from $21.00 to $24.00 and gave the stock an overweight rating in a research report on Thursday. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $22.33.

AT&T Trading Down 0.4 %

Shares of NYSE T traded down $0.08 during mid-day trading on Friday, reaching $19.11. The company had a trading volume of 9,665,324 shares, compared to its average volume of 36,682,645. AT&T has a 52 week low of $13.89 and a 52 week high of $19.74. The business’s 50-day moving average is $18.29 and its 200-day moving average is $17.45. The stock has a market cap of $137.02 billion, a price-to-earnings ratio of 10.24, a price-to-earnings-growth ratio of 3.67 and a beta of 0.58. The company has a current ratio of 0.70, a quick ratio of 0.63 and a debt-to-equity ratio of 1.05.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The firm’s quarterly revenue was down .3% compared to the same quarter last year. Equities analysts expect that AT&T will post 2.21 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.81%. The ex-dividend date is Wednesday, July 10th. AT&T’s dividend payout ratio is currently 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.