What is Zacks Research’s Forecast for AT&T FY2024 Earnings?

AT&T Inc. (NYSE:T) – Investment analysts at Zacks Research decreased their FY2024 earnings per share estimates for shares of AT&T in a research report issued on Tuesday, December 17th. Zacks Research analyst R. Department now forecasts that the technology company will post earnings per share of $2.18 for the year, down from their previous forecast of $2.21. The consensus estimate for AT&T’s current full-year earnings is $2.19 per share. Zacks Research also issued estimates for AT&T’s Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.55 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.55 EPS, Q3 2026 earnings at $0.54 EPS and FY2026 earnings at $2.22 EPS.

AT&T (NYSE:T) last announced its quarterly earnings data 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 firm had revenue of $30.20 billion during the quarter, compared to analysts’ expectations of $30.50 billion. During the same quarter last year, the firm posted $0.64 earnings per share. The company’s revenue for the quarter was down .5% compared to the same quarter last year.

A number of other research analysts have also recently issued reports on T. Morgan Stanley upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $19.00 to $28.00 in a report on Monday. Barclays boosted their price objective on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Wells Fargo & Company dropped their target price on AT&T from $25.00 to $24.00 and set an “overweight” rating on the stock in a report on Thursday, October 24th. Citigroup upped their price target on AT&T from $26.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, December 4th. Finally, Redburn Atlantic upgraded AT&T to a “strong sell” rating in a research note on Monday, September 16th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.53.

AT&T Stock Performance

NYSE T opened at $22.57 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09. The company has a fifty day simple moving average of $22.58 and a 200 day simple moving average of $20.70. AT&T has a 12-month low of $15.94 and a 12-month high of $24.03. The company has a market cap of $161.95 billion, a P/E ratio of 18.35, a PEG ratio of 3.60 and a beta of 0.59.

AT&T Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date is Friday, January 10th. This represents a $1.11 annualized dividend and a dividend yield of 4.92%. AT&T’s payout ratio is presently 90.24%.

Institutional Investors Weigh In On AT&T

Several institutional investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of AT&T by 2.3% in the third quarter. Geode Capital Management LLC now owns 161,120,657 shares of the technology company’s stock valued at $3,532,684,000 after purchasing an additional 3,630,972 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in AT&T by 7.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 81,076,641 shares of the technology company’s stock valued at $1,549,375,000 after buying an additional 5,592,123 shares in the last quarter. FMR LLC grew its holdings in AT&T by 1.9% during the 3rd quarter. FMR LLC now owns 60,986,064 shares of the technology company’s stock valued at $1,341,693,000 after buying an additional 1,149,688 shares in the last quarter. Legal & General Group Plc increased its position in shares of AT&T by 2.7% during the second quarter. Legal & General Group Plc now owns 60,109,127 shares of the technology company’s stock valued at $1,148,689,000 after buying an additional 1,569,374 shares during the period. Finally, Ameriprise Financial Inc. boosted its position in shares of AT&T by 2.0% in the second quarter. Ameriprise Financial Inc. now owns 51,558,884 shares of the technology company’s stock valued at $985,307,000 after acquiring an additional 1,007,228 shares during the period. 57.10% of the stock is owned by hedge funds and other institutional investors.

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.