AT&T Inc. (NYSE:T) Forecasted to Post FY2024 Earnings of $2.46 Per Share

Posted by on Apr 6th, 2023

AT&T Inc. (NYSE:T – Get Rating) – Equities researchers at KeyCorp increased their FY2024 earnings estimates for AT&T in a note issued to investors on Monday, April 3rd. KeyCorp analyst B. Nispel now anticipates that the technology company will post earnings per share of $2.46 for the year, up from their prior estimate of $2.45. The consensus estimate for AT&T’s current full-year earnings is $2.40 per share.

A number of other equities analysts have also weighed in on T. Argus upgraded shares of AT&T from a “hold” rating to a “buy” rating and set a $24.00 price objective on the stock in a research report on Thursday, December 8th. Raymond James boosted their target price on shares of AT&T from $24.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 26th. Morgan Stanley lowered shares of AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 target price on the stock. in a research report on Thursday, December 15th. Wells Fargo & Company upgraded shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $17.00 to $22.00 in a research report on Tuesday, January 10th. Finally, StockNews.com started coverage on shares of AT&T in a research report on Thursday, March 16th. They set a “hold” rating on the stock. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $22.00.

AT&T Stock Performance

NYSE:T opened at $19.88 on Wednesday. The firm’s fifty day moving average price is $19.09 and its 200 day moving average price is $18.37. AT&T has a 1-year low of $14.46 and a 1-year high of $21.53. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.59 and a quick ratio of 0.53. The firm has a market cap of $141.74 billion, a price-to-earnings ratio of -16.71, a price-to-earnings-growth ratio of 2.39 and a beta of 0.66.

AT&T (NYSE:T – Get Rating) last announced its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.58 by $0.03. The business had revenue of $31.30 billion for the quarter, compared to analyst estimates of $31.50 billion. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The company’s revenue for the quarter was down 23.6% compared to the same quarter last year. During the same period last year, the firm posted $0.78 earnings per share.

Institutional Trading of AT&T

Institutional investors have recently modified their holdings of the company. Northwest Investment Counselors LLC grew its holdings in shares of AT&T by 46.3% during the 3rd quarter. Northwest Investment Counselors LLC now owns 3,800 shares of the technology company’s stock worth $58,000 after purchasing an additional 1,203 shares during the period. Baird Financial Group Inc. grew its holdings in shares of AT&T by 55.1% during the 3rd quarter. Baird Financial Group Inc. now owns 2,042,311 shares of the technology company’s stock worth $31,329,000 after purchasing an additional 725,364 shares during the period. Canandaigua National Corp boosted its holdings in AT&T by 1.0% in the 3rd quarter. Canandaigua National Corp now owns 77,837 shares of the technology company’s stock worth $1,194,000 after acquiring an additional 775 shares during the period. Bank Julius Baer & Co. Ltd Zurich boosted its holdings in AT&T by 8.5% in the 3rd quarter. Bank Julius Baer & Co. Ltd Zurich now owns 647,685 shares of the technology company’s stock worth $9,935,000 after acquiring an additional 50,475 shares during the period. Finally, Solitude Financial Services boosted its holdings in AT&T by 22.7% in the 3rd quarter. Solitude Financial Services now owns 52,360 shares of the technology company’s stock worth $803,000 after acquiring an additional 9,675 shares during the period. Hedge funds and other institutional investors own 51.86% of the company’s stock.

AT&T Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 5.58%. The ex-dividend date is Thursday, April 6th. AT&T’s dividend payout ratio (DPR) is -93.28%.

AT&T Company Profile

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AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the Communications and Latin America segments. The Communications segment offers services to businesses and consumers located in the U.S., or in U.S. territories, and businesses globally.

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Earnings History and Estimates for AT&T (NYSE:T)

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