AT&T (NYSE:T) Posts Quarterly Earnings Results, Hits Estimates

AT&T (NYSE:T) posted its quarterly earnings data on Wednesday. The technology company reported $0.57 earnings per share for the quarter, hitting the consensus estimate of $0.57, 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 $29.80 billion during the quarter, compared to analysts’ expectations of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 EPS. The firm’s revenue was down .3% compared to the same quarter last year. AT&T updated its FY 2024 guidance to 2.150-2.250 EPS and its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Performance

NYSE:T traded down $0.18 during mid-day trading on Friday, hitting $19.01. The stock had a trading volume of 30,780,089 shares, compared to its average volume of 36,790,621. AT&T has a twelve month low of $13.89 and a twelve month high of $19.74. The stock has a market cap of $136.30 billion, a price-to-earnings ratio of 10.24, a PEG ratio of 3.67 and a beta of 0.58. The company’s 50 day simple moving average is $18.29 and its 200 day simple moving average is $17.45. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.63 and a current ratio of 0.70.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend 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 currently 59.68%.

Analyst Upgrades and Downgrades

T has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada upped their price objective on AT&T from $18.00 to $19.00 and gave the company a “sector perform” rating in a research note on Thursday. StockNews.com lowered AT&T from a “buy” rating to a “hold” rating in a research note on Friday, May 3rd. UBS Group restated a “buy” rating and set a $24.00 price target on shares of AT&T in a research report on Tuesday, June 18th. Finally, Oppenheimer increased their price target on AT&T from $21.00 to $23.00 and gave the stock an “outperform” rating in a research report on Thursday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $22.33.

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.