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

AT&T (NYSE:T) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $2.20-2.25 for the period, compared to the consensus estimate of $2.21. AT&T also updated its FY 2025 guidance to 1.970-2.070 EPS.

AT&T Trading Up 4.6 %

Shares of NYSE T opened at $23.75 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.73 and a quick ratio of 0.67. The stock has a market capitalization of $170.41 billion, a P/E ratio of 19.31, a price-to-earnings-growth ratio of 3.41 and a beta of 0.59. AT&T has a 1-year low of $15.94 and a 1-year high of $24.03. The business has a fifty day moving average price of $22.24 and a 200 day moving average price of $20.25.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same period last year, the business posted $0.64 earnings per share. The firm’s revenue was down .5% compared to the same quarter last year. Equities research analysts expect that AT&T will post 2.22 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.2775 dividend. This represents a $1.11 annualized dividend and a dividend yield of 4.67%. The ex-dividend date of this dividend was Thursday, October 10th. AT&T’s payout ratio is 90.24%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on T shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $22.00 price target on shares of AT&T in a research report on Thursday, October 24th. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a research report on Tuesday. Moffett Nathanson boosted their price objective on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 15th. Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research report on Monday, September 16th. Finally, Hsbc Global Res raised AT&T to a “strong-buy” rating in a research note on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, AT&T presently has an average rating of “Moderate Buy” and a consensus target price of $23.53.

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.