AT&T (NYSE:T) Posts Quarterly Earnings Results

AT&T (NYSE:T) issued its quarterly earnings data on Wednesday. The technology company reported $0.55 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.02, Briefing.com reports. AT&T had a return on equity of 14.63% and a net margin of 11.13%. The firm had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business posted $0.60 earnings per share. The business’s quarterly 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 Trading Up 1.8 %

NYSE T traded up $0.30 during trading hours on Friday, reaching $16.88. The company had a trading volume of 15,561,110 shares, compared to its average volume of 39,118,551. AT&T has a 1-year low of $13.43 and a 1-year high of $18.16. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06. The stock has a 50-day moving average of $16.97 and a 200 day moving average of $16.54. The stock has a market capitalization of $120.74 billion, a P/E ratio of 9.03, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57.

AT&T Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.58%. AT&T’s dividend payout ratio is currently 59.68%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on T. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a research note on Tuesday, March 5th. Scotiabank boosted their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a “sector outperform” rating in a report on Thursday. Barclays raised their price target on AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. Citigroup boosted their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, February 1st. Finally, Tigress Financial raised their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, AT&T 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.