AT&T (T) Set to Announce Earnings on Wednesday

AT&T (NYSE:T) is set to release its earnings data before the market opens on Wednesday, October 23rd. Analysts expect AT&T to post earnings of $0.59 per share for the quarter. AT&T has set its FY 2024 guidance at 2.150-2.250 EPS and its FY24 guidance at $2.15-2.25 EPS.Investors that wish to listen to the company’s conference call can do so using this link.

AT&T (NYSE:T) last issued its quarterly earnings data on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.63 EPS. On average, analysts expect AT&T to post $2 EPS for the current fiscal year and $2 EPS for the next fiscal year.

AT&T Trading Down 0.8 %

Shares of T stock opened at $21.67 on Tuesday. The firm has a market capitalization of $155.38 billion, a P/E ratio of 12.45, a P/E/G ratio of 3.73 and a beta of 0.60. AT&T has a twelve month low of $14.74 and a twelve month high of $22.34. The company has a quick ratio of 0.66, a current ratio of 0.70 and a debt-to-equity ratio of 1.05. The stock’s fifty day simple moving average is $20.99 and its 200 day simple moving average is $19.01.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.2775 dividend. The ex-dividend date is Thursday, October 10th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.12%. AT&T’s dividend payout ratio (DPR) is presently 63.79%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Wells Fargo & Company boosted their price objective on AT&T from $22.00 to $25.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Royal Bank of Canada boosted 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, July 25th. JPMorgan Chase & Co. boosted their price objective on AT&T from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Thursday, July 25th. Redburn Atlantic raised AT&T to a “strong sell” rating in a research note on Monday, September 16th. Finally, Evercore ISI boosted their price objective on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research note on Thursday, July 25th. One analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $22.69.

AT&T Company Profile

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.