AT&T (NYSE:T) Releases FY24 Earnings Guidance

AT&T (NYSE:T - Get Free Report) updated its FY24 earnings guidance on Wednesday. The company provided earnings per share (EPS) guidance of $2.15-2.25 for the period, compared to the consensus estimate of $2.22.

AT&T Stock Up 1.9 %

Shares of T traded up $0.31 during trading hours on Wednesday, hitting $16.81. The company had a trading volume of 74,184,828 shares, compared to its average volume of 39,342,547. The firm has a fifty day moving average price of $16.98 and a 200-day moving average price of $16.54. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.71. The stock has a market capitalization of $120.24 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 2.46 and a beta of 0.57. AT&T has a 52-week low of $13.43 and a 52-week high of $18.16.

AT&T (NYSE:T - Get Free Report) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The company had revenue of $32 billion during the quarter, compared to analysts' expectations of $31.44 billion. During the same period in the prior year, the firm earned $0.61 EPS. AT&T's revenue for the quarter was up 2.2% compared to the same quarter last year. On average, equities research analysts forecast that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 6.60%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T's dividend payout ratio (DPR) is 56.63%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on T shares. Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 price objective for the company in a research note on Friday, January 19th. Wolfe Research raised AT&T from a peer perform rating to an outperform rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Royal Bank of Canada reaffirmed a sector perform rating and set a $17.00 price objective on shares of AT&T in a report on Thursday, April 11th. Tigress Financial increased their price target on AT&T from $28.00 to $29.00 and gave the company a buy rating in a report on Wednesday, January 31st. Finally, JPMorgan Chase & Co. upgraded AT&T from a neutral rating to an overweight rating and increased their price target for the company from $18.00 to $21.00 in a report on Thursday, February 1st. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and a consensus price target of $20.50.

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.