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

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

AT&T Stock Up 1.6 %

Shares of AT&T stock traded up $0.27 during trading hours on Friday, reaching $16.85. 19,041,227 shares of the company’s stock were exchanged, compared to its average volume of 39,170,531. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $18.16. The stock has a market cap of $120.52 billion, a P/E ratio of 9.03, a P/E/G ratio of 2.54 and a beta of 0.57. The company has a 50 day moving average of $16.97 and a two-hundred day moving average of $16.54. The company has a current ratio of 0.68, a quick ratio of 0.67 and a debt-to-equity ratio of 1.06.

AT&T Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.2775 per share. The ex-dividend date is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. AT&T’s dividend payout ratio is 59.68%.

Analyst Ratings Changes

T has been the topic of a number of recent research reports. Tigress Financial lifted their price objective on AT&T from $28.00 to $29.00 and gave the company a “buy” rating in a report on Wednesday, January 31st. Barclays lifted their price objective on AT&T from $17.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, January 31st. StockNews.com raised AT&T from a “hold” rating to a “buy” rating in a report on Thursday. Wolfe Research raised AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 price objective on the stock in a report on Tuesday, March 5th. Finally, TheStreet raised AT&T from a “c” rating to a “b-” rating in a report on Wednesday, January 24th. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $20.81.

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.