AT&T Inc. (NYSE:T – Free Report) – Research analysts at KeyCorp raised their FY2023 EPS estimates for AT&T in a note issued to investors on Wednesday, September 20th. KeyCorp analyst B. Nispel now forecasts that the technology company will post earnings of $2.41 per share for the year, up from their prior forecast of $2.40. The consensus estimate for AT&T’s current full-year earnings is $2.43 per share. KeyCorp also issued estimates for AT&T’s Q4 2023 earnings at $0.55 EPS, Q1 2024 earnings at $0.63 EPS, Q3 2024 earnings at $0.65 EPS, Q4 2024 earnings at $0.58 EPS and FY2024 earnings at $2.52 EPS.
A number of other research analysts also recently commented on T. Argus downgraded shares of AT&T from a “buy” rating to a “hold” rating in a research note on Wednesday, July 19th. HSBC cut their price target on shares of AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. Deutsche Bank Aktiengesellschaft dropped their price objective on AT&T from $23.00 to $22.00 in a report on Friday, July 14th. Citigroup raised AT&T from a “neutral” rating to a “buy” rating and set a $17.00 price target for the company in a research report on Tuesday, August 29th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $20.00 price objective on shares of AT&T in a research note on Thursday, August 3rd. Nine equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $20.00.
AT&T Stock Performance
NYSE T opened at $15.12 on Monday. The business’s 50-day moving average price is $14.49 and its 200 day moving average price is $16.23. The company has a current ratio of 0.68, a quick ratio of 0.63 and a debt-to-equity ratio of 1.10. AT&T has a twelve month low of $13.43 and a twelve month high of $20.50. The company has a market capitalization of $108.09 billion, a PE ratio of -12.39, a price-to-earnings-growth ratio of 1.86 and a beta of 0.64.
AT&T (NYSE:T – Get Free Report) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. The company had revenue of $29.92 billion for the quarter, compared to analyst estimates of $30.07 billion. AT&T had a positive return on equity of 15.91% and a negative net margin of 7.22%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.65 EPS.
Hedge Funds Weigh In On AT&T
A number of institutional investors and hedge funds have recently bought and sold shares of T. Bank Julius Baer & Co. Ltd Zurich raised its holdings in AT&T by 102,614.5% in the second quarter. Bank Julius Baer & Co. Ltd Zurich now owns 823,706,558 shares of the technology company’s stock valued at $13,138,120,000 after acquiring an additional 822,904,620 shares in the last quarter. Moneta Group Investment Advisors LLC raised its stake in shares of AT&T by 85,003.0% in 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 purchasing an additional 76,746,649 shares in the last quarter. Norges Bank bought a new position in shares of AT&T during the fourth quarter worth about $1,229,499,000. Morgan Stanley grew its stake in AT&T by 37.3% in the fourth quarter. Morgan Stanley now owns 109,639,428 shares of the technology company’s stock worth $2,018,462,000 after purchasing an additional 29,769,976 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in AT&T by 328.1% in the first quarter. Arrowstreet Capital Limited Partnership now owns 15,569,212 shares of the technology company’s stock valued at $299,707,000 after buying an additional 11,932,735 shares during the last quarter. Hedge funds and other institutional investors own 53.65% of the company’s stock.
AT&T Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were issued a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 7.34%. The ex-dividend date was Friday, July 7th. AT&T’s dividend payout ratio is presently -90.98%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.
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