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

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $2.15-2.25 for the period, compared to the consensus earnings per share estimate of $2.22.

AT&T Stock Performance

NYSE T opened at $16.51 on Wednesday. The company has a fifty day simple moving average of $16.98 and a 200 day simple moving average of $16.54. AT&T has a 12-month low of $13.43 and a 12-month high of $18.16. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a market cap of $118.09 billion, a P/E ratio of 8.42, a PEG ratio of 2.46 and a beta of 0.57.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The company had revenue of $32 billion for the quarter, compared to the consensus estimate of $31.44 billion. During the same quarter last year, the business posted $0.61 earnings per share. AT&T’s revenue was up 2.2% on a year-over-year basis. Sell-side analysts predict that AT&T will post 2.21 earnings per share for the current fiscal year.

AT&T Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 6.72%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 56.63%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on T shares. Barclays lifted their target price on AT&T from $17.00 to $20.00 and gave the stock an equal weight rating in a research note on Wednesday, January 31st. StockNews.com cut AT&T from a buy rating to a hold rating in a research note on Thursday, April 4th. Wolfe Research upgraded AT&T from a peer perform rating to an outperform rating and set a $21.00 target price on the stock in a research note on Tuesday, March 5th. Deutsche Bank Aktiengesellschaft lifted their target price on AT&T from $23.00 to $24.00 and gave the stock a buy rating in a research note on Thursday, January 25th. Finally, Oppenheimer upgraded AT&T from a market perform rating to an outperform rating and set a $21.00 target price on the stock in a research note on Friday, January 19th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, AT&T currently has a consensus rating of Moderate Buy and an average target price of $20.50.

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.