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

AT&T (NYSE:T) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $2.20-2.25 for the period, compared to the consensus estimate of $2.21. AT&T also updated its FY 2025 guidance to 1.970-2.070 EPS.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on T shares. Hsbc Global Res upgraded shares of AT&T to a “strong-buy” rating in a research report on Tuesday, October 1st. Wells Fargo & Company dropped their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a research note on Thursday, October 24th. Evercore ISI raised their price target on AT&T from $19.00 to $21.00 and gave the company an “in-line” rating in a research note on Thursday, October 24th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $22.00 target price on shares of AT&T in a report on Thursday, October 24th. Finally, Scotiabank lowered AT&T from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $23.53.

AT&T Price Performance

T opened at $22.70 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73. The company’s 50-day simple moving average is $22.17 and its two-hundred day simple moving average is $20.17. The stock has a market capitalization of $162.88 billion, a P/E ratio of 18.46, a P/E/G ratio of 3.48 and a beta of 0.59. AT&T has a 52-week low of $15.94 and a 52-week high of $23.38.

AT&T (NYSE:T) last released 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 company had revenue of $30.20 billion during the quarter, compared to the consensus estimate of $30.50 billion. During the same period in the previous year, the company posted $0.64 EPS. AT&T’s revenue was down .5% compared to the same quarter last year. As a group, analysts predict that AT&T will post 2.22 EPS for the current year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 4.89%. The ex-dividend date was Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 90.24%.

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.