AT&T (NYSE:T) Posts Earnings Results, Beats Estimates By $0.03 EPS

AT&T (NYSE:T) announced its quarterly earnings data on Wednesday. The technology company reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03, Briefing.com reports. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business 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 earnings per share. The business’s revenue for the quarter was down .5% on a year-over-year basis. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Price Performance

AT&T stock opened at $22.19 on Friday. AT&T has a 12 month low of $14.74 and a 12 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 business has a 50 day simple moving average of $21.09 and a 200-day simple moving average of $19.06. The stock has a market capitalization of $159.11 billion, a PE ratio of 12.75, a price-to-earnings-growth ratio of 3.67 and a beta of 0.60.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 5.00%. The ex-dividend date is Thursday, October 10th. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Barclays boosted their price objective on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday. Redburn Atlantic raised AT&T to a “strong sell” rating in a report on Monday, September 16th. Wells Fargo & Company lowered their price target on AT&T from $25.00 to $24.00 and set an “overweight” rating for the company in a report on Thursday. Scotiabank downgraded AT&T from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 6th. Finally, Moffett Nathanson upped their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, AT&T has a consensus rating of “Moderate Buy” and an average 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.