AT&T (NYSE:T) Announces Earnings Results, Beats Estimates By $0.02 EPS

AT&T (NYSE:T) announced its earnings results on Wednesday. The technology company reported $0.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02, Briefing.com reports. AT&T had a net margin of 11.13% and a return on equity of 14.63%. The firm had revenue of $30.03 billion for the quarter, compared to analyst estimates of $30.62 billion. During the same quarter in the prior year, the business posted $0.60 EPS. The business’s revenue was down .4% compared to the same quarter last year. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Trading Down 1.3 %

T opened at $16.59 on Friday. AT&T has a twelve month low of $13.43 and a twelve month high of $18.16. The company has a quick ratio of 0.67, a current ratio of 0.68 and a debt-to-equity ratio of 1.06. The company has a fifty day moving average of $16.97 and a 200-day moving average of $16.54. The stock has a market cap of $118.63 billion, a PE ratio of 8.92, a price-to-earnings-growth ratio of 2.54 and a beta of 0.57.

AT&T Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a dividend yield of 6.69%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 59.68%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. TheStreet upgraded shares of AT&T from a “c” rating to a “b-” rating in a research report on Wednesday, January 24th. Oppenheimer upgraded shares of AT&T from a “market perform” rating to an “outperform” rating and set a $21.00 price target on the stock in a research report on Friday, January 19th. Barclays increased their price target on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 31st. StockNews.com raised shares of AT&T from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Scotiabank raised their price target on shares of AT&T from $22.00 to $22.50 and gave the company a “sector outperform” rating in a research note on Thursday. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $20.81.

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.