Wall Street analysts predict that AT&T Inc. (NYSE:T) will announce sales of $41.42 billion for the current fiscal quarter, according to Zacks Investment Research. Sixteen analysts have made estimates for AT&T’s earnings. The lowest sales estimate is $39.10 billion and the highest is $44.92 billion. AT&T reported sales of $44.96 billion during the same quarter last year, which would suggest a negative year over year growth rate of 7.9%. The business is expected to announce its next earnings results before the market opens on Thursday, July 23rd.

On average, analysts expect that AT&T will report full-year sales of $170.91 billion for the current fiscal year, with estimates ranging from $165.33 billion to $175.11 billion. For the next fiscal year, analysts forecast that the company will post sales of $174.56 billion, with estimates ranging from $167.37 billion to $184.71 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover AT&T.

AT&T (NYSE:T) last released its earnings results on Wednesday, April 22nd. The technology company reported $0.84 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.85 by ($0.01). AT&T had a net margin of 8.05% and a return on equity of 13.27%. The business had revenue of $42.78 billion for the quarter, compared to analysts’ expectations of $44.75 billion. During the same period last year, the firm earned $0.86 EPS. The company’s revenue was down 4.6% compared to the same quarter last year.

A number of equities research analysts recently weighed in on T shares. Morgan Stanley reduced their price objective on AT&T from $38.00 to $36.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 1st. Wells Fargo & Co cut their price objective on shares of AT&T from $36.00 to $28.00 and set an “equal weight” rating for the company in a research report on Friday, April 3rd. Cfra dropped their target price on shares of AT&T from $42.00 to $37.00 and set a “buy” rating on the stock in a research note on Thursday, April 23rd. Citigroup cut their price objective on shares of AT&T from $42.00 to $31.00 and set a “buy” rating on the stock in a research note on Wednesday, March 25th. Finally, Nomura decreased their price target on shares of AT&T from $39.00 to $38.00 and set a “buy” rating on the stock in a research note on Wednesday, April 22nd. Four equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the stock. AT&T currently has a consensus rating of “Hold” and a consensus target price of $35.94.

In other AT&T news, Director Stephen J. Luczo bought 36,000 shares of the business’s stock in a transaction that occurred on Wednesday, April 22nd. The shares were bought at an average cost of $29.38 per share, with a total value of $1,057,680.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Geoffrey Y. Yang acquired 6,754 shares of the stock in a transaction on Friday, April 24th. The stock was bought at an average price of $29.39 per share, with a total value of $198,500.06. Following the completion of the acquisition, the director now directly owns 9,398 shares of the company’s stock, valued at $276,207.22. The disclosure for this purchase can be found here. 0.07% of the stock is owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Geode Capital Management LLC raised its holdings in AT&T by 1.5% in the 1st quarter. Geode Capital Management LLC now owns 111,210,654 shares of the technology company’s stock worth $3,235,792,000 after acquiring an additional 1,669,793 shares during the last quarter. Norges Bank bought a new stake in AT&T in the 4th quarter worth approximately $2,928,300,000. Nuveen Asset Management LLC grew its position in AT&T by 18.4% in the 4th quarter. Nuveen Asset Management LLC now owns 53,216,205 shares of the technology company’s stock worth $2,079,689,000 after purchasing an additional 8,261,619 shares during the period. Legal & General Group Plc grew its position in shares of AT&T by 2.9% during the 1st quarter. Legal & General Group Plc now owns 47,477,604 shares of the technology company’s stock valued at $1,385,953,000 after acquiring an additional 1,345,096 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of AT&T by 7.1% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 30,960,127 shares of the technology company’s stock valued at $886,887,000 after acquiring an additional 2,046,164 shares during the period. Hedge funds and other institutional investors own 53.74% of the company’s stock.

NYSE:T traded up $0.16 during mid-day trading on Friday, hitting $29.93. The company had a trading volume of 10,820,528 shares, compared to its average volume of 39,514,864. AT&T has a fifty-two week low of $26.08 and a fifty-two week high of $39.70. The firm has a market cap of $213.84 billion, a P/E ratio of 15.11, a P/E/G ratio of 1.71 and a beta of 0.72. The business’s fifty day moving average is $30.61 and its two-hundred day moving average is $33.30. The company has a debt-to-equity ratio of 0.75, a quick ratio of 0.76 and a current ratio of 0.76.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be paid a $0.52 dividend. The ex-dividend date is Thursday, July 9th. This represents a $2.08 dividend on an annualized basis and a yield of 6.95%. AT&T’s dividend payout ratio is presently 58.26%.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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Earnings History and Estimates for AT&T (NYSE:T)

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