AT&T (NYSE:T) Updates FY 2024 Earnings Guidance

by · The Markets Daily

AT&T (NYSE:T – Get Free Report) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided earnings per share guidance of 2.200-2.250 for the period, compared to the consensus earnings per share estimate of 2.210. The company issued revenue guidance of -.

AT&T Trading Up 0.8 %

Shares of NYSE:T opened at $22.75 on Friday. The company has a 50 day moving average of $22.61 and a 200-day moving average of $20.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The firm has a market cap of $163.24 billion, a P/E ratio of 18.50, a P/E/G ratio of 3.60 and a beta of 0.59. AT&T has a twelve month low of $15.94 and a twelve month high of $24.03.

AT&T (NYSE:T – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the business posted $0.64 earnings per share. The company’s quarterly revenue was down .5% on a year-over-year basis. As a group, analysts anticipate that AT&T will post 2.19 earnings per share for the current fiscal year.

AT&T Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 4.88%. AT&T’s payout ratio is currently 90.24%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $25.00 to $28.00 and gave the stock an “overweight” rating in a research report on Wednesday, December 4th. Morgan Stanley raised AT&T from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $19.00 to $28.00 in a research note on Monday, December 16th. Wells Fargo & Company dropped their target price on shares of AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Citigroup upped their price target on shares of AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, December 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $22.00 target price on shares of AT&T in a research report on Thursday, October 24th. One analyst has rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $25.53.

Check Out Our Latest Analysis on T

AT&T Company Profile

(Get Free Report)

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.

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