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 earnings per share guidance of $2.15-2.25 for the period, compared to the consensus earnings per share estimate of $2.20.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on T shares. Deutsche Bank Aktiengesellschaft lifted their price target on shares of AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Oppenheimer boosted their target price on AT&T from $21.00 to $23.00 and gave the company an “outperform” rating in a research report on Thursday, July 25th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a report on Monday, September 16th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Tigress Financial upped their target price on AT&T from $29.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, September 27th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $22.69.

AT&T Stock Down 0.7 %

Shares of NYSE:T opened at $21.51 on Wednesday. The stock has a market capitalization of $154.23 billion, a P/E ratio of 12.36, a price-to-earnings-growth ratio of 3.73 and a beta of 0.60. AT&T has a 12-month low of $14.74 and a 12-month high of $22.34. The stock’s 50-day moving average price is $21.03 and its 200-day moving average price is $19.04. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

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, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The company had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. During the same period in the prior year, the business posted $0.63 earnings per share. AT&T’s revenue for the quarter was down .3% on a year-over-year basis. On average, equities analysts anticipate that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $1.11 annualized dividend and a yield of 5.16%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

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.