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

AT&T (NYSE:T - Get Free Report) is scheduled to be issuing its quarterly earnings data before the market opens on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.59 per share for the quarter. AT&T has set its FY 2024 guidance at 2.150-2.250 EPS and its FY24 guidance at $2.15-2.25 EPS.Persons that wish to listen to the company's earnings conference call can do so using this link.

AT&T (NYSE:T - Get Free Report) last issued its earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.57. The business had revenue of $29.80 billion during the quarter, compared to analyst estimates of $30.05 billion. AT&T had a return on equity of 14.16% and a net margin of 10.41%. AT&T's revenue for the quarter was down .3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 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

Shares of T stock traded up $0.08 during trading hours on Wednesday, hitting $21.59. 1,189,303 shares of the company's stock were exchanged, compared to its average volume of 35,517,109. AT&T has a 12-month low of $14.28 and a 12-month high of $22.34. The company has a market capitalization of $154.80 billion, a PE ratio of 11.57, a PEG ratio of 3.62 and a beta of 0.60. The business's 50 day simple moving average is $20.81 and its 200-day simple moving average is $18.89. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 1.05.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.2775 dividend. This represents a $1.11 dividend on an annualized basis and a yield of 5.14%. The ex-dividend date of this dividend is Thursday, October 10th. AT&T's payout ratio is presently 59.68%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on T shares. Citigroup lifted their price objective on AT&T from $21.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, September 11th. UBS Group reiterated a "buy" rating and issued a $24.00 price objective on shares of AT&T in a research report on Tuesday, June 18th. Moffett Nathanson increased their price objective on AT&T from $17.00 to $18.00 and gave the company a "neutral" rating in a research note on Thursday, August 15th. Royal Bank of Canada lifted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock a "sector perform" rating in a research note on Thursday, July 25th. Finally, Wells Fargo & Company increased their price target on shares of AT&T from $22.00 to $25.00 and gave the company an "overweight" rating in a research report on Monday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.69.

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.