AT&T (NYSE:T – Get Rating) is scheduled to be announcing its earnings results before the market opens on Thursday, April 20th. Analysts expect the company to announce earnings of $0.58 per share for the quarter. AT&T has set its FY23 guidance at $2.35-2.45 EPS and its FY 2023 guidance at $2.35-$2.45 EPS.Investors interested in listening to the company’s conference call can do so using this link.
AT&T (NYSE:T – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.58 by $0.03. The business had revenue of $31.30 billion during the quarter, compared to analyst estimates of $31.50 billion. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The company’s revenue for the quarter was down 23.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.78 earnings per share. 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 Price Performance
T opened at $19.77 on Thursday. The stock has a 50-day moving average price of $19.05 and a 200-day moving average price of $18.47. 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 $141.43 billion, a PE ratio of -16.61, a P/E/G ratio of 2.44 and a beta of 0.66. AT&T has a 1 year low of $14.46 and a 1 year high of $21.53.
AT&T Announces Dividend
Institutional Investors Weigh In On AT&T
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its stake in shares of AT&T by 85,003.0% in the fourth 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 buying an additional 76,746,649 shares in the last quarter. Norges Bank acquired a new stake in shares of AT&T in the fourth quarter valued at $1,229,499,000. Morgan Stanley grew its stake in shares of AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock valued at $2,018,462,000 after buying an additional 29,769,976 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec grew its stake in shares of AT&T by 71.8% in the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 23,743,313 shares of the technology company’s stock valued at $561,054,000 after buying an additional 9,921,029 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD grew its stake in AT&T by 65.1% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 22,081,113 shares of the technology company’s stock worth $406,514,000 after purchasing an additional 8,707,074 shares in the last quarter. Hedge funds and other institutional investors own 51.86% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have recently issued reports on T shares. Wells Fargo & Company raised AT&T from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $17.00 to $22.00 in a report on Tuesday, January 10th. Cowen upped their price objective on AT&T from $24.00 to $25.00 in a research report on Thursday, January 26th. Morgan Stanley downgraded AT&T from an “overweight” rating to an “equal weight” rating and set a $20.00 price target on the stock. in a research report on Thursday, December 15th. Moffett Nathanson restated an “underperform” rating and set a $17.00 price objective on shares of AT&T in a research note on Monday, December 19th. Finally, TheStreet cut AT&T from a “b” rating to a “c” rating in a research note on Wednesday, January 25th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $22.00.
About AT&T
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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