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

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.20.

AT&T Price Performance

AT&T stock opened at $21.71 on Wednesday. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The business has a 50 day simple moving average of $19.42 and a 200-day simple moving average of $18.09. AT&T has a 12 month low of $14.12 and a 12 month high of $21.86. The stock has a market capitalization of $155.66 billion, a PE ratio of 11.67, a price-to-earnings-growth ratio of 3.57 and a beta of 0.59.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 24th. The technology company reported $0.57 EPS for the quarter, hitting the consensus estimate of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter last year, the business earned $0.63 EPS. The business’s revenue was down .3% on a year-over-year basis. Equities analysts predict that AT&T will post 2.2 earnings per share for the current year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 5.11%. The ex-dividend date of this dividend was Wednesday, July 10th. AT&T’s dividend payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Daiwa America upgraded shares of AT&T to a hold rating in a research report on Friday, July 26th. Royal Bank of Canada upped their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a sector perform rating in a research report on Thursday, July 25th. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an overweight rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the company an in-line rating in a research note on Thursday, July 25th. Finally, Oppenheimer boosted their target price on AT&T from $21.00 to $23.00 and gave the stock an outperform rating in a research report on Thursday, July 25th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, AT&T has a consensus rating of Moderate Buy and a consensus target price of $22.06.

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.