Equities research analysts expect AT&T Inc. (NYSE:T) to post sales of $41.67 billion for the current fiscal quarter, according to Zacks. Twelve analysts have made estimates for AT&T's earnings, with estimates ranging from $40.24 billion to $42.27 billion. AT&T reported sales of $44.59 billion during the same quarter last year, which indicates a negative year over year growth rate of 6.5%. The firm is scheduled to issue its next quarterly earnings report on Monday, October 26th.
On average, analysts expect that AT&T will report full year sales of $169.54 billion for the current year, with estimates ranging from $167.38 billion to $170.88 billion. For the next financial year, analysts expect that the firm will report sales of $172.20 billion, with estimates ranging from $167.01 billion to $177.84 billion. Zacks Investment Research's sales averages are a mean average based on a survey of analysts that cover AT&T.
AT&T (NYSE:T) last released its quarterly earnings results on Thursday, July 23rd. The technology company reported $0.83 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.04. The business had revenue of $40.95 billion for the quarter, compared to the consensus estimate of $40.87 billion. AT&T had a net margin of 6.84% and a return on equity of 13.03%. AT&T's revenue for the quarter was down 8.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.89 EPS.
Several brokerages recently commented on T. Deutsche Bank dropped their target price on shares of AT&T from $38.00 to $37.00 and set a "buy" rating on the stock in a report on Tuesday, August 4th. Zacks Investment Research downgraded shares of AT&T from a "hold" rating to a "sell" rating and set a $33.00 target price on the stock. in a report on Wednesday, May 27th. Bank of America reiterated a "buy" rating and issued a $36.00 target price on shares of AT&T in a report on Friday, July 24th. Scotiabank downgraded shares of AT&T from a "sector perform" rating to a "sector underperform" rating and dropped their price objective for the stock from $34.00 to $30.00 in a report on Monday, August 31st. Finally, Oppenheimer dropped their price objective on shares of AT&T from $47.00 to $38.00 and set an "outperform" rating on the stock in a report on Wednesday, July 15th. Five analysts have rated the stock with a sell rating, twelve have assigned a hold rating and twelve have given a buy rating to the stock. The stock has an average rating of "Hold" and an average target price of $34.00.
In related news, Director Stephen J. Luczo bought 100,000 shares of AT&T stock in a transaction dated Thursday, July 23rd. The shares were bought at an average cost of $29.69 per share, for a total transaction of $2,969,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of T. Public Employees Retirement Association of Colorado raised its stake in shares of AT&T by 5.3% during the first quarter. Public Employees Retirement Association of Colorado now owns 1,380,340 shares of the technology company's stock worth $40,237,000 after buying an additional 69,268 shares during the last quarter. BRYN MAWR TRUST Co increased its stake in AT&T by 0.7% in the first quarter. BRYN MAWR TRUST Co now owns 130,322 shares of the technology company's stock valued at $3,799,000 after purchasing an additional 851 shares in the last quarter. IndexIQ Advisors LLC increased its stake in AT&T by 2,591.6% in the first quarter. IndexIQ Advisors LLC now owns 67,856 shares of the technology company's stock valued at $1,978,000 after purchasing an additional 65,335 shares in the last quarter. Lucia Wealth Services LLC increased its stake in AT&T by 301.0% in the first quarter. Lucia Wealth Services LLC now owns 3,316 shares of the technology company's stock valued at $97,000 after purchasing an additional 2,489 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd bought a new stake in AT&T in the first quarter valued at approximately $34,000. 52.29% of the stock is owned by institutional investors and hedge funds.
AT&T stock opened at $29.24 on Thursday. The company has a market capitalization of $208.34 billion, a P/E ratio of 17.94, a P/E/G ratio of 1.64 and a beta of 0.69. The firm's fifty day simple moving average is $29.70 and its 200-day simple moving average is $30.48. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.79. AT&T has a 1-year low of $26.08 and a 1-year high of $39.70.
About AT&T
AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.
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