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

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

AT&T Price Performance

Shares of T traded down $0.23 during mid-day trading on Thursday, reaching $16.58. The company had a trading volume of 19,269,450 shares, compared to its average volume of 39,073,613. The company’s 50 day simple moving average is $16.98 and its 200 day simple moving average is $16.54. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16. 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 market capitalization of $118.59 billion, a price-to-earnings ratio of 8.44, a P/E/G ratio of 2.49 and a beta of 0.57.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a $0.2775 dividend. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.69%. AT&T’s payout ratio is currently 56.63%.

Analysts Set New Price Targets

A number of equities analysts have commented on T shares. Tigress Financial boosted their price target on shares of AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a research report on Wednesday, January 31st. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and boosted their price target for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. TheStreet raised shares of AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Oppenheimer raised shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Finally, Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

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.