AT&T (NYSE:T) Updates FY 2024 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY 2024 earnings guidance on Saturday morning. The company provided EPS guidance of 2.150-2.250 for the period, compared to the consensus EPS estimate of 2.070. The company issued revenue guidance of -.

Wall Street Analysts Forecast Growth

T has been the subject of a number of recent analyst reports. Wolfe Research raised shares of AT&T from a peer perform rating to an outperform rating and set a $21.00 price target on the stock in a research report on Tuesday, March 5th. Oppenheimer raised shares of AT&T from a market perform rating to an outperform rating and set a $21.00 target price on the stock in a report on Friday, January 19th. Deutsche Bank Aktiengesellschaft raised their target price on shares of AT&T from $23.00 to $24.00 and gave the stock a buy rating in a report on Thursday, January 25th. StockNews.com cut shares of AT&T from a buy rating to a hold rating in a report on Friday. Finally, Scotiabank raised their target price on shares of AT&T from $22.00 to $22.50 and gave the stock a sector outperform rating in a report on Thursday, April 25th. Five analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, AT&T has an average rating of Moderate Buy and an average price target of $20.81.

AT&T Price Performance

NYSE T opened at $16.85 on Friday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.68 and a quick ratio of 0.63. The firm has a market capitalization of $120.52 billion, a PE ratio of 9.06, a P/E/G ratio of 3.31 and a beta of 0.57. AT&T has a 12 month low of $13.43 and a 12 month high of $18.16. The company’s 50 day simple moving average is $16.97 and its 200 day simple moving average is $16.62.

AT&T (NYSE:T) last posted its quarterly earnings data on Wednesday, April 24th. The technology company reported $0.55 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.02. 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 during the quarter, compared to analyst estimates of $30.62 billion. During the same quarter last year, the business posted $0.60 EPS. The company’s revenue was down .4% on a year-over-year basis. As a group, equities research analysts forecast that AT&T will post 2.24 EPS for the current fiscal year.

AT&T Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is currently 59.68%.

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.