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

AT&T (NYSE:T) updated its FY24 earnings guidance on Wednesday. The company provided EPS guidance of $2.15-2.25 for the period, compared to the consensus EPS estimate of $2.20.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. The Goldman Sachs Group assumed coverage on shares of AT&T in a research note on Monday, July 1st. They issued a “buy” rating and a $22.00 price target on the stock. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. Citigroup increased their price objective on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, September 11th. Finally, Scotiabank downgraded shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.40.

AT&T Price Performance

Shares of T stock traded down $0.32 on Thursday, reaching $22.17. The company had a trading volume of 16,847,520 shares, compared to its average volume of 35,654,527. The stock has a market capitalization of $158.96 billion, a PE ratio of 12.71, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. AT&T has a one year low of $14.74 and a one year high of $22.58. The business’s 50-day moving average is $21.09 and its 200 day moving average is $19.06.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $30.20 billion during the quarter, compared to analyst estimates of $30.50 billion. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The firm’s quarterly revenue was down .5% on a year-over-year basis. During the same quarter last year, the business earned $0.64 EPS. Equities research analysts forecast that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be issued a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.01%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

About AT&T

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.