AT&T (NYSE:T) Issues FY24 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.15-2.25 for the period, compared to the consensus EPS estimate of $2.20.

AT&T Price Performance

Shares of NYSE T opened at $21.64 on Friday. AT&T has a twelve month low of $14.12 and a twelve month high of $21.86. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05. The stock has a 50 day moving average of $19.59 and a two-hundred day moving average of $18.17. The stock has a market cap of $155.13 billion, a P/E ratio of 11.63, a P/E/G ratio of 3.65 and a beta of 0.59.

AT&T (NYSE:T) last posted its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s revenue was down .3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.63 earnings per share. On average, research analysts forecast that AT&T will post 2.2 earnings per share for the current year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.2775 per share. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.13%. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analysts Set New Price Targets

Several research firms recently weighed in on T. Royal Bank of Canada increased their target price on AT&T from $18.00 to $19.00 and gave the stock a sector perform rating in a research report on Thursday, July 25th. Evercore ISI raised their price objective on AT&T from $18.00 to $19.00 and gave the stock an in-line rating in a report on Thursday, July 25th. Scotiabank downgraded AT&T from a strong-buy rating to a hold rating in a report on Tuesday, August 6th. Moffett Nathanson raised their target price on AT&T from $17.00 to $18.00 and gave the company a neutral rating in a report on Thursday, August 15th. Finally, UBS Group restated a buy rating and set a $24.00 price objective on shares of AT&T in a research note on Tuesday, June 18th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and an average target price of $22.31.

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.