AT&T Inc. to Post FY2024 Earnings of $2.24 Per Share, Zacks Research Forecasts (NYSE:T)

AT&T Inc. (NYSE:T - Free Report) - Equities researchers at Zacks Research raised their FY2024 earnings per share estimates for AT&T in a note issued to investors on Wednesday, May 15th. Zacks Research analyst R. Department now expects that the technology company will earn $2.24 per share for the year, up from their previous forecast of $2.22. The consensus estimate for AT&T's current full-year earnings is $2.24 per share. Zacks Research also issued estimates for AT&T's Q4 2024 earnings at $0.53 EPS, Q3 2025 earnings at $0.59 EPS, Q4 2025 earnings at $0.58 EPS, FY2025 earnings at $2.30 EPS and FY2026 earnings at $2.46 EPS.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.02. The business had revenue of $30.03 billion during 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 firm's quarterly revenue was down .4% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share.

Several other equities research analysts have also 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 for the company in a research note on Tuesday, March 5th. Oppenheimer upgraded AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Scotiabank increased their price objective on shares of AT&T from $22.00 to $22.50 and gave the company a "sector outperform" rating in a research report on Thursday, April 25th. StockNews.com downgraded shares of AT&T from a "buy" rating to a "hold" rating in a report on Friday, May 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $17.00 target price on shares of AT&T in a research report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, AT&T presently has an average rating of "Moderate Buy" and a consensus target price of $20.81.

AT&T Stock Performance

T traded up $0.10 during trading on Friday, hitting $17.40. The company's stock had a trading volume of 25,143,475 shares, compared to its average volume of 37,658,527. The business's 50 day simple moving average is $17.01 and its 200-day simple moving average is $16.77. The company has a quick ratio of 0.63, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. AT&T has a one year low of $13.43 and a one year high of $18.16. The firm has a market cap of $124.76 billion, a PE ratio of 9.31, a P/E/G ratio of 3.41 and a beta of 0.57.

Hedge Funds Weigh In On AT&T

A number of large investors have recently made changes to their positions in T. Heartland Bank & Trust Co lifted its holdings in AT&T by 14.1% in the 1st quarter. Heartland Bank & Trust Co now owns 24,206 shares of the technology company's stock worth $426,000 after purchasing an additional 2,999 shares during the last quarter. Kozak & Associates Inc. raised its holdings in shares of AT&T by 58.7% in the 1st quarter. Kozak & Associates Inc. now owns 3,497 shares of the technology company's stock worth $61,000 after buying an additional 1,294 shares in the last quarter. Investmark Advisory Group LLC grew its holdings in shares of AT&T by 2.8% in the 1st quarter. Investmark Advisory Group LLC now owns 133,770 shares of the technology company's stock worth $2,354,000 after purchasing an additional 3,633 shares during the last quarter. New Covenant Trust Company N.A. acquired a new position in shares of AT&T in the 1st quarter worth approximately $200,000. Finally, Plato Investment Management Ltd increased its stake in shares of AT&T by 685.4% in the first quarter. Plato Investment Management Ltd now owns 135,676 shares of the technology company's stock valued at $2,388,000 after buying an additional 118,401 shares in the last quarter. Institutional investors and hedge funds own 57.10% of the company's stock.

AT&T Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.38%. The ex-dividend date was Tuesday, April 9th. AT&T's payout ratio is 59.68%.

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.