AT&T (T) Set to Announce Quarterly Earnings on Wednesday

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

AT&T (NYSE:T) last announced its quarterly earnings data on Wednesday, January 24th. The technology company reported $0.54 earnings per share 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 company had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same quarter in the prior year, the company posted $0.61 EPS. AT&T’s revenue for the quarter was up 2.2% on a year-over-year basis. 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

Shares of NYSE T opened at $16.51 on Monday. The firm’s 50-day moving average price is $17.00 and its 200-day moving average price is $16.52. AT&T has a 1-year low of $13.43 and a 1-year high of $18.72. The firm has a market capitalization of $118.09 billion, a P/E ratio of 8.42, a P/E/G ratio of 2.49 and a beta of 0.57. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.09.

AT&T Announces Dividend

The business 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 dividend of $0.2775 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $1.11 annualized dividend and a dividend yield of 6.72%. AT&T’s dividend payout ratio is currently 56.63%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of T. United Bank lifted its stake in AT&T by 3.1% in the 3rd quarter. United Bank now owns 47,953 shares of the technology company’s stock worth $720,000 after purchasing an additional 1,437 shares in the last quarter. Coppell Advisory Solutions LLC purchased a new stake in AT&T in the 2nd quarter worth approximately $168,000. Covestor Ltd lifted its stake in AT&T by 261.6% in the 1st quarter. Covestor Ltd now owns 7,037 shares of the technology company’s stock worth $166,000 after purchasing an additional 5,091 shares in the last quarter. LM Advisors LLC purchased a new stake in AT&T in the 4th quarter worth approximately $156,000. Finally, Coppell Advisory Solutions Corp. purchased a new stake in AT&T in the 4th quarter worth approximately $151,000. 57.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on T. Tigress Financial upped their target price on shares of AT&T from $28.00 to $29.00 and gave the stock a “buy” rating in a report on Wednesday, January 31st. Citigroup upped their target price on shares of AT&T from $19.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, February 1st. Wolfe Research upgraded shares of AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price on the stock in a report on Tuesday, March 5th. StockNews.com lowered shares of AT&T from a “buy” rating to a “hold” rating in a report on Thursday, April 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $17.00 price objective on shares of AT&T in a research report on Thursday, April 11th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $20.50.

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.