AT&T (NYSE:T) Releases 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 $2.22.

AT&T Trading Up 1.7 %

Shares of T traded up $0.28 during trading hours on Friday, hitting $16.86. The stock had a trading volume of 18,000,028 shares, compared to its average volume of 39,162,395. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.67 and a current ratio of 0.68. The firm has a market cap of $120.60 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.54 and a beta of 0.57. The company’s fifty day simple moving average is $16.97 and its 200 day simple moving average is $16.54. AT&T has a 12-month low of $13.43 and a 12-month high of $18.16.

AT&T (NYSE:T) last issued its earnings results on Wednesday, April 24th. The technology company reported $0.55 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.02. The business had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s quarterly revenue was down .4% on a year-over-year basis. During the same period last year, the company posted $0.60 EPS. Equities research analysts forecast that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.58%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 target price for the company in a research note on Friday, January 19th. Deutsche Bank Aktiengesellschaft lifted their price target on AT&T from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 price target for the company in a research note on Tuesday, March 5th. StockNews.com upgraded AT&T from a hold rating to a buy rating in a research note on Thursday. Finally, Barclays lifted their price target on AT&T from $17.00 to $20.00 and gave the stock an equal weight rating in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, AT&T currently has an average rating of Moderate Buy and a consensus target price of $20.81.

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.