AT&T Inc. provides telecommunications, media, and technology services worldwide. Its Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores. It also provides data, voice, security, cloud solutions, outsourcing, and managed and professional services, as well as customer premises equipment for multinational corporations, small and mid-sized businesses, governmental, and wholesale customers. In addition, this segment offers broadband fiber and legacy telephony voice communication services to residential customers. It markets its communications services and products under the AT&T, Cricket, AT&T PREPAID, and AT&T Fiber brand names. The company's Latin America segment provides wireless services in Mexico; and video services in Latin America. This segment markets its services and products under the AT&T and Unefon brand names. The company was formerly known as SBC Communications Inc. and changed its name to AT&T Inc. in 2005. AT&T Inc. was incorporated in 1983 and is headquartered in Dallas, Texas.
Analyst Ratings Changes
T has been the subject of several research analyst reports. Tigress Financial cut their price target on AT&T from $31.00 to $28.00 in a report on Thursday, June 16th. JPMorgan Chase & Co. upgraded AT&T from a "neutral" rating to an "overweight" rating and dropped their price objective for the company from $34.00 to $22.00 in a report on Monday, April 11th. Cowen decreased their target price on AT&T from $27.00 to $24.00 and set a "market perform" rating for the company in a research report on Friday, July 22nd. Truist Financial decreased their target price on AT&T to $21.00 in a research report on Friday, July 22nd. Finally, Raymond James restated an "outperform" rating and set a $26.00 target price on shares of AT&T in a research note on Thursday, July 7th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $23.89.
AT&T Trading Down 1.9 %
Shares of AT&T stock opened at $18.00 on Tuesday. The business has a 50 day moving average price of $20.04 and a 200 day moving average price of $21.53. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.70 and a quick ratio of 0.64. The company has a market capitalization of $128.86 billion, a P/E ratio of 6.62, a P/E/G ratio of 1.99 and a beta of 0.47. AT&T has a 1 year low of $16.62 and a 1 year high of $21.53.
AT&T (NYSE:T - Get Rating) last announced its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.04. The firm had revenue of $29.64 billion during the quarter, compared to analysts' expectations of $29.48 billion. AT&T had a net margin of 13.41% and a return on equity of 13.11%. The firm's revenue was down 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.89 EPS. Sell-side analysts anticipate that AT&T will post 2.51 EPS for the current fiscal year.
AT&T Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Monday, July 11th were paid a $0.2775 dividend. The ex-dividend date of this dividend was Friday, July 8th. This represents a $1.11 annualized dividend and a dividend yield of 6.17%. AT&T's payout ratio is currently 40.81%.