AT&T Inc. (NYSE:T) Plans $0.28 Quarterly Dividend

AT&T Inc. (NYSE:T) declared a quarterly dividend on Friday, September 27th, Wall Street Journal reports. Stockholders of record on Thursday, October 10th will be paid a dividend of 0.2775 per share by the technology company on Friday, November 1st. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.10%. The ex-dividend date of this dividend is Thursday, October 10th.

AT&T has decreased its dividend by an average of 18.9% annually over the last three years. AT&T has a dividend payout ratio of 48.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 47.4%.

AT&T Price Performance

Shares of NYSE T opened at $21.78 on Tuesday. AT&T has a twelve month low of $14.23 and a twelve month high of $22.34. The firm has a fifty day simple moving average of $20.47 and a 200 day simple moving average of $18.68. The company has a market capitalization of $156.17 billion, a PE ratio of 11.71, a P/E/G ratio of 3.78 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 (NYSE:T) last announced its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a net margin of 10.41% and a return on equity of 14.16%. The business had revenue of $29.80 billion during the quarter, compared to the consensus estimate of $30.05 billion. During the same quarter last year, the firm earned $0.63 earnings per share. AT&T’s quarterly revenue was down .3% on a year-over-year basis. On average, sell-side analysts forecast that AT&T will post 2.22 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BNP Paribas raised shares of AT&T from an “underperform” rating to a “neutral” rating in a research note on Tuesday, June 11th. Daiwa America raised shares of AT&T to a “hold” rating in a research note on Friday, July 26th. Citigroup lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a research note on Wednesday, September 11th. Evercore ISI lifted their price target on shares of AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. 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, nine have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average price target of $22.38.

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.