AT&T (T) to Release Earnings on Wednesday

AT&T (NYSE:T) will be announcing its earnings results 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.Persons that wish to register for the company’s earnings conference call can do so using this link.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, January 24th. The technology company reported $0.54 EPS for the quarter, missing the consensus estimate of $0.55 by ($0.01). AT&T had a return on equity of 15.39% and a net margin of 11.76%. The firm had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period last year, the firm earned $0.61 EPS. The company’s quarterly revenue 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 Stock Down 0.9 %

Shares of NYSE:T opened at $16.09 on Wednesday. The company has a market capitalization of $115.09 billion, a P/E ratio of 8.21, a P/E/G ratio of 2.46 and a beta of 0.57. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.09. The stock’s fifty day simple moving average is $17.04 and its 200-day simple moving average is $16.48. AT&T has a 52-week low of $13.43 and a 52-week high of $19.92.

AT&T Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a $0.2775 dividend. This represents a $1.11 annualized dividend and a yield of 6.90%. The ex-dividend date of this dividend is Tuesday, April 9th. AT&T’s dividend payout ratio is currently 56.63%.

Hedge Funds Weigh In On AT&T

Hedge funds and other institutional investors have recently modified their holdings of the stock. United Bank grew its position in shares of 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 buying an additional 1,437 shares during the last quarter. Coppell Advisory Solutions LLC purchased a new position in AT&T in the 2nd quarter valued at about $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 acquired a new stake in shares of AT&T during the 4th quarter worth approximately $156,000. Finally, Coppell Advisory Solutions Corp. acquired a new stake in shares of AT&T during the 4th quarter worth approximately $151,000. Institutional investors own 57.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. StockNews.com downgraded AT&T from a “buy” rating to a “hold” rating in a research note on Thursday, April 4th. TheStreet raised AT&T from a “c” rating to a “b-” rating in a research note on Wednesday, January 24th. Wolfe Research upgraded AT&T from a “peer perform” rating to an “outperform” rating and set a $21.00 target price for the company in a report on Tuesday, March 5th. JPMorgan Chase & Co. upgraded shares of AT&T from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $18.00 to $21.00 in a research report on Thursday, February 1st. Finally, Citigroup lifted their price objective on shares of AT&T from $19.00 to $20.00 and gave the company a “buy” rating in a research note on Thursday, February 1st. Seven investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $20.68.

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, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.