AT&T (NYSE:T) Announces Earnings Results

AT&T (NYSE:T - Get Free Report) announced its earnings results on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.02, Briefing.com reports. The company had revenue of $30.03 billion during the quarter, compared to analyst estimates of $30.62 billion. AT&T had a net margin of 11.76% and a return on equity of 15.39%. The firm's quarterly revenue was down .4% compared to the same quarter last year. During the same period in the previous year, the business posted $0.60 earnings per share. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Trading Down 1.3 %

T traded down $0.22 on Thursday, reaching $16.59. 46,667,665 shares of the company traded hands, compared to its average volume of 39,434,195. AT&T has a one year low of $13.43 and a one year high of $18.16. The firm has a fifty day simple moving average of $16.97 and a two-hundred day simple moving average of $16.54. The company has a market cap of $118.63 billion, a P/E ratio of 8.46, a price-to-earnings-growth ratio of 2.49 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.69%. AT&T's dividend payout ratio (DPR) is presently 56.63%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on T. Deutsche Bank Aktiengesellschaft upped their price target on shares of AT&T from $23.00 to $24.00 and gave the stock a "buy" rating in a research report on Thursday, January 25th. Tigress Financial upped their price target on shares of AT&T from $28.00 to $29.00 and gave the stock a "buy" rating in a research report on Wednesday, January 31st. Oppenheimer upgraded shares of AT&T from a "market perform" rating to an "outperform" rating and set a $21.00 price target for the company in a research report on Friday, January 19th. Scotiabank upped their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a "sector outperform" rating in a research report on Thursday. Finally, JPMorgan Chase & Co. upgraded shares of AT&T from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Five analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $20.81.

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.