AT&T (NYSE:T) Releases Earnings Results, Beats Expectations By $0.03 EPS

AT&T (NYSE:T) issued its earnings results on Wednesday. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03, Briefing.com reports. The business had revenue of $30.20 billion for 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 company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.64 EPS. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Price Performance

Shares of AT&T stock traded down $0.36 on Friday, hitting $21.84. The company had a trading volume of 26,035,913 shares, compared to its average volume of 35,713,988. The business has a 50-day simple moving average of $21.15 and a 200-day simple moving average of $19.08. 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 company has a market cap of $156.60 billion, a PE ratio of 11.90, a PEG ratio of 3.67 and a beta of 0.60. AT&T has a 52 week low of $14.74 and a 52 week high of $22.58.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 5.08%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of a number of recent analyst reports. Scotiabank lowered shares of AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. Evercore ISI upped their target price on shares of AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday. Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 target price on shares of AT&T in a research note on Thursday. Daiwa America upgraded shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $23.40.

AT&T Company Profile

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.