AT&T (NYSE:T) Updates FY 2024 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY 2024 earnings guidance on Friday morning. The company provided earnings per share guidance of 2.150-2.250 for the period, compared to the consensus earnings per share estimate of 2.200. The company issued revenue guidance of -.

AT&T Trading Down 1.9 %

Shares of T opened at $22.12 on Monday. AT&T has a 1 year low of $15.46 and a 1 year high of $22.73. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The stock has a 50 day simple moving average of $21.47 and a 200-day simple moving average of $19.36. The stock has a market cap of $158.72 billion, a PE ratio of 17.98, a PEG ratio of 3.38 and a beta of 0.59.

AT&T (NYSE:T) last issued its earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The business had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period in the prior year, the firm posted $0.64 EPS. AT&T’s quarterly revenue was down .5% compared to the same quarter last year. On average, sell-side analysts predict that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were issued a $0.2775 dividend. The ex-dividend date was Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.02%. AT&T’s payout ratio is presently 90.24%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on T shares. Oppenheimer increased their price target on AT&T from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays increased their price target on AT&T from $22.00 to $24.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Royal Bank of Canada restated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. Moffett Nathanson increased their price target on AT&T from $17.00 to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 15th. Finally, Citigroup increased their price target on AT&T from $21.00 to $24.00 and gave the stock a “buy” rating in a research report on Wednesday, September 11th. One 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’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target 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.