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

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Wednesday morning. The company provided EPS guidance of $2.15-2.25 for the period, compared to the consensus EPS estimate of $2.22. AT&T also updated its FY 2024 guidance to 2.150-2.250 EPS.

AT&T Stock Performance

Shares of NYSE T traded down $0.18 during mid-day trading on Friday, hitting $19.01. The stock had a trading volume of 14,767,017 shares, compared to its average volume of 36,718,320. AT&T has a twelve month low of $13.89 and a twelve month high of $19.74. The firm has a market cap of $136.30 billion, a PE ratio of 10.24, a PEG ratio of 3.67 and a beta of 0.58. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.70. The company has a 50 day moving average of $18.29 and a two-hundred day moving average of $17.45.

AT&T (NYSE:T) last announced its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, meeting the consensus estimate of $0.57. The company had revenue of $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% on a year-over-year basis. During the same period last year, the business earned $0.63 earnings per share. Research analysts predict that AT&T will post 2.21 EPS for the current fiscal year.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Wednesday, July 10th. This represents a $1.11 annualized dividend and a yield of 5.84%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on T. Evercore ISI upped their price objective on AT&T from $18.00 to $19.00 and gave the stock an in-line rating in a research report on Thursday. Scotiabank boosted their price target on shares of AT&T from $23.00 to $24.00 and gave the company a sector outperform rating in a research report on Thursday. JPMorgan Chase & Co. raised their target price on shares of AT&T from $21.00 to $24.00 and gave the stock an overweight rating in a research report on Thursday. TD Cowen lifted their target price on AT&T from $21.00 to $23.00 and gave the company a hold rating in a research note on Thursday. Finally, Barclays boosted their price target on shares of AT&T from $20.00 to $22.00 and gave the stock an overweight rating in a research note on Thursday. Six research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and an average price target of $22.33.

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.