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

AT&T (NYSE:T) issued its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. The business had revenue of $30.03 billion for the quarter, compared to the consensus estimate of $30.62 billion. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The business’s revenue was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 earnings per share. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Up 1.2 %

Shares of NYSE T traded up $0.20 during trading hours on Friday, hitting $16.78. The company had a trading volume of 7,911,641 shares, compared to its average volume of 39,024,836. The stock has a market capitalization of $120.02 billion, a P/E ratio of 8.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The firm’s 50 day moving average is $16.97 and its 200-day moving average is $16.54. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 6.62%. The ex-dividend date is Tuesday, April 9th. AT&T’s payout ratio is 59.68%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Tigress Financial increased their target price on AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a research report on Wednesday, January 31st. Barclays raised their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 31st. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a research report on Tuesday, March 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $17.00 target price on shares of AT&T in a report on Thursday, April 11th. Finally, JPMorgan Chase & Co. raised shares of AT&T from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $18.00 to $21.00 in a research report on Thursday, February 1st. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.