AT&T (NYSE:T) Releases FY 2024 Earnings Guidance

AT&T (NYSE:T - Get Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 2.200-2.250 for the period, compared to the consensus EPS estimate of 2.210. The company issued revenue guidance of -.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. New Street Research raised AT&T from a "neutral" rating to a "buy" rating in a research note on Tuesday, December 3rd. Morgan Stanley raised shares of AT&T from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $19.00 to $28.00 in a report on Monday, December 16th. Evercore ISI raised their price objective on shares of AT&T from $19.00 to $21.00 and gave the stock an "in-line" rating in a research report on Thursday, October 24th. Sanford C. Bernstein started coverage on shares of AT&T in a report on Tuesday, December 10th. They issued an "outperform" rating and a $28.00 target price on the stock. Finally, Hsbc Global Res upgraded shares of AT&T to a "strong-buy" rating in a report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, AT&T currently has an average rating of "Moderate Buy" and an average target price of $25.53.

AT&T Stock Up 0.8 %

Shares of T traded up $0.18 during midday trading on Friday, reaching $22.75. The stock had a trading volume of 92,765,648 shares, compared to its average volume of 35,865,719. The company has a market cap of $163.24 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 3.60 and a beta of 0.59. The company's fifty day simple moving average is $22.61 and its two-hundred day simple moving average is $20.74. AT&T has a 1-year low of $15.94 and a 1-year high of $24.03. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business's quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the company earned $0.64 EPS. Equities research analysts expect that AT&T will post 2.19 earnings per share for the current year.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.88%. The ex-dividend date is Friday, January 10th. AT&T's payout ratio is currently 90.24%.

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.