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

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

AT&T Stock Performance

Shares of T stock traded down $0.06 during trading hours on Friday, reaching $22.14. The stock had a trading volume of 8,860,797 shares, compared to its average volume of 35,631,055. AT&T has a twelve month low of $14.74 and a twelve month high of $22.58. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.70 and a quick ratio of 0.66. The firm has a market capitalization of $158.75 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60. The firm has a 50-day simple moving average of $21.15 and a 200-day simple moving average of $19.08.

AT&T (NYSE:T) last posted its earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion for the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the firm earned $0.64 EPS. The firm’s revenue was down .5% compared to the same quarter last year. As a group, equities analysts forecast that AT&T will post 2.22 earnings per share for the current year.

AT&T Announces Dividend

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

Analysts Set New Price Targets

Several equities research analysts have commented on T shares. Citigroup boosted their price target on shares of AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a report on Thursday. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, JPMorgan Chase & Co. lifted their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, July 25th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.