AT&T (NYSE:T) Posts Earnings Results, Beats Estimates By $0.03 EPS

AT&T (NYSE:T) released its quarterly earnings results on Wednesday. The technology company reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03, Briefing.com reports. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The firm had revenue of $30.20 billion for the quarter, compared to analyst estimates of $30.50 billion. During the same quarter last year, the company posted $0.64 earnings per share. The business’s revenue was down .5% on a year-over-year basis. AT&T updated its FY24 guidance to $2.15-2.25 EPS.

AT&T Stock Down 1.6 %

AT&T stock traded down $0.36 during trading on Friday, reaching $21.84. 26,035,913 shares of the company’s stock were exchanged, compared to its average volume of 35,713,988. The company’s 50-day moving average is $21.15 and its two-hundred day moving average is $19.08. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. AT&T has a 52-week low of $14.74 and a 52-week high of $22.58. The firm has a market cap of $156.60 billion, a price-to-earnings ratio of 11.90, a PEG ratio of 3.67 and a beta of 0.60.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.2775 per share. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a yield of 5.08%. AT&T’s dividend payout ratio (DPR) is 59.68%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on T shares. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, September 11th. Hsbc Global Res raised AT&T to a “strong-buy” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. lifted their price target on shares of AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research report on Thursday, July 25th. Finally, Redburn Atlantic upgraded shares of AT&T to a “strong sell” rating in a research report on Monday, September 16th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $23.40.

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.