AT&T (T) to Release Earnings on Wednesday

AT&T (NYSE:T) will be releasing its earnings data before the market opens on Wednesday, April 24th. Analysts expect AT&T to post earnings of $0.54 per share for the quarter. AT&T has set its FY24 guidance at $2.15-2.25 EPS.Individual interested in registering for the company’s earnings conference call can do so using this link.

AT&T (NYSE:T) last posted its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a net margin of 11.76% and a return on equity of 15.39%. The business had revenue of $32 billion during the quarter, compared to analysts’ expectations of $31.44 billion. During the same period in the previous year, the company posted $0.61 earnings per share. AT&T’s revenue for the quarter was up 2.2% compared to the same quarter last year. 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 Stock Down 0.9 %

T opened at $16.09 on Wednesday. The company has a 50-day moving average price of $17.04 and a 200 day moving average price of $16.48. AT&T has a twelve month low of $13.43 and a twelve month high of $19.92. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The company has a market cap of $115.09 billion, a PE ratio of 8.21, a price-to-earnings-growth ratio of 2.46 and a beta of 0.57.

AT&T Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.2775 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 dividend on an annualized basis and a dividend yield of 6.90%. AT&T’s payout ratio is 56.63%.

Institutional Investors Weigh In On AT&T

Several institutional investors have recently modified their holdings of the stock. Moneta Group Investment Advisors LLC boosted its position in AT&T by 85,003.0% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 76,836,936 shares of the technology company’s stock valued at $1,414,568,000 after acquiring an additional 76,746,649 shares in the last quarter. Norges Bank purchased a new position in shares of AT&T in the 4th quarter valued at about $1,229,499,000. Morgan Stanley increased its stake in shares of AT&T by 37.3% in the 4th quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Barclays PLC increased its stake in AT&T by 107.0% during the 2nd quarter. Barclays PLC now owns 20,089,215 shares of the technology company’s stock worth $320,420,000 after buying an additional 10,382,905 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its stake in AT&T by 45.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 32,198,859 shares of the technology company’s stock worth $619,829,000 after buying an additional 10,117,746 shares in the last quarter. 57.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

T has been the subject of several research reports. StockNews.com downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. Barclays increased their price objective on shares of AT&T from $17.00 to $20.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 31st. Deutsche Bank Aktiengesellschaft raised their price objective on shares of AT&T from $23.00 to $24.00 and gave the company a “buy” rating in a research report on Thursday, January 25th. 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 research report on Friday, January 19th. Finally, Citigroup lifted their target price on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, AT&T currently has a consensus rating of “Moderate Buy” and an average target price of $20.68.

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.