Q1 2024 EPS Estimates for AT&T Inc. Reduced by Zacks Research (NYSE:T)

AT&T Inc. (NYSE:T) – Investment analysts at Zacks Research lowered their Q1 2024 EPS estimates for shares of AT&T in a research note issued on Wednesday, March 27th. Zacks Research analyst R. Department now expects that the technology company will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.56. The consensus estimate for AT&T’s current full-year earnings is $2.21 per share. Zacks Research also issued estimates for AT&T’s Q3 2024 earnings at $0.58 EPS, FY2024 earnings at $2.22 EPS, Q2 2025 earnings at $0.56 EPS, Q4 2025 earnings at $0.57 EPS, FY2025 earnings at $2.29 EPS and FY2026 earnings at $2.42 EPS.

Other research analysts also recently issued research reports about the stock. JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $18.00 to $21.00 in a report on Thursday, February 1st. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Wells Fargo & Company boosted their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “overweight” rating in a research note on Wednesday, December 13th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Citigroup boosted their price target on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $21.61.

AT&T Trading Up 2.3 %

Shares of AT&T stock opened at $17.58 on Thursday. The company has a market capitalization of $125.71 billion, a P/E ratio of 8.97, a P/E/G ratio of 2.59 and a beta of 0.57. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The company has a fifty day moving average of $17.08 and a 200 day moving average of $16.26. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $19.99.

AT&T (NYSE:T) last issued its earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). The firm had revenue of $32 billion during the quarter, compared to the consensus estimate of $31.44 billion. AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.61 EPS.

Institutional Trading of AT&T

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in AT&T by 1.2% during the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 47,356 shares of the technology company’s stock worth $1,119,000 after buying an additional 547 shares in the last quarter. SMH Capital Advisors Inc. lifted its holdings in AT&T by 1.8% during the 4th quarter. SMH Capital Advisors Inc. now owns 31,771 shares of the technology company’s stock worth $585,000 after buying an additional 565 shares in the last quarter. Kahn Brothers Group Inc. lifted its holdings in AT&T by 3.4% during the 4th quarter. Kahn Brothers Group Inc. now owns 17,329 shares of the technology company’s stock worth $319,000 after buying an additional 575 shares in the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its holdings in AT&T by 1.7% during the 4th quarter. Texas Capital Bank Wealth Management Services Inc now owns 35,098 shares of the technology company’s stock worth $589,000 after buying an additional 598 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA lifted its holdings in AT&T by 35.3% during the 4th quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 2,322 shares of the technology company’s stock worth $39,000 after buying an additional 606 shares in the last quarter. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.