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 Upgrades and Downgrades
Several research firms have recently weighed in on T. The Goldman Sachs Group assumed coverage on AT&T in a research note on Monday, April 25th. They issued a "buy" rating and a $23.00 price target on the stock. Deutsche Bank Aktiengesellschaft decreased their price target on shares of AT&T from $24.00 to $22.00 in a research note on Friday, July 22nd. Royal Bank of Canada decreased their target price on shares of AT&T from $30.00 to $20.00 and set a "sector perform" rating on the stock in a research note on Monday, April 25th. Truist Financial lowered their target price on AT&T to $21.00 in a report on Friday, July 22nd. Finally, StockNews.com raised AT&T from a "hold" rating to a "buy" rating in a report on Monday, August 8th. Eleven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, AT&T has an average rating of "Hold" and an average target price of $23.89.
AT&T Stock Down 0.8 %
AT&T stock opened at $18.42 on Thursday. The firm has a market capitalization of $131.26 billion, a P/E ratio of 6.77, a P/E/G ratio of 1.99 and a beta of 0.47. The stock's fifty day simple moving average is $19.64 and its 200-day simple moving average is $21.24. AT&T has a twelve month low of $16.62 and a twelve month high of $21.53. The company has a current ratio of 0.70, a quick ratio of 0.64 and a debt-to-equity ratio of 0.96.
AT&T (NYSE:T - Get Rating) last posted its quarterly earnings results on Thursday, July 21st. The technology company reported $0.65 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.61 by $0.04. AT&T had a return on equity of 13.11% and a net margin of 13.41%. The company had revenue of $29.64 billion for the quarter, compared to analyst estimates of $29.48 billion. During the same quarter last year, the company earned $0.89 EPS. AT&T's revenue for the quarter was down 17.1% compared to the same quarter last year. As a group, equities analysts expect that AT&T will post 2.51 earnings per share for the current fiscal year.
AT&T Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Monday, July 11th were issued a $0.2775 dividend. The ex-dividend date was Friday, July 8th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.03%. AT&T's payout ratio is 40.81%.