AT&T (NYSE:T – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.150-2.250 for the period, compared to the consensus EPS estimate of 2.460. The company issued revenue guidance of -.
Analyst Ratings Changes
A number of brokerages have recently weighed in on T. Oppenheimer raised shares of AT&T from a market perform rating to an outperform rating and set a $21.00 price target for the company in a research note on Friday, January 19th. Wells Fargo & Company increased their price target on AT&T from $17.00 to $20.00 and gave the company an overweight rating in a research note on Wednesday, December 13th. TheStreet raised AT&T from a c rating to a b- rating in a research note on Wednesday. Morgan Stanley cut their price objective on AT&T from $20.00 to $19.00 and set an equal weight rating for the company in a report on Monday, October 23rd. Finally, StockNews.com assumed coverage on shares of AT&T in a research report on Thursday, October 5th. They issued a hold rating on the stock. Seven analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $20.83.
AT&T Stock Up 0.8 %
AT&T (NYSE:T – Get Free Report) last posted its 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 15.50% and a net margin of 11.76%. The business had revenue of $32 billion for the quarter, compared to analyst estimates of $31.44 billion. During the same period in the previous year, the company earned $0.61 earnings per share. The company’s quarterly revenue was up 2.2% compared to the same quarter last year. On average, research analysts forecast that AT&T will post 2.2 earnings per share for the current year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a yield of 6.41%. The ex-dividend date of this dividend is Tuesday, January 9th. AT&T’s dividend payout ratio (DPR) is 56.63%.
Hedge Funds Weigh In On AT&T
Several large investors have recently bought and sold shares of T. FWL Investment Management LLC bought a new stake in AT&T in the fourth quarter valued at about $31,000. Financial Freedom LLC acquired a new stake in AT&T during the fourth quarter valued at approximately $34,000. Fortis Capital Advisors LLC acquired a new stake in AT&T during the fourth quarter valued at approximately $39,000. PCA Investment Advisory Services Inc. bought a new stake in shares of AT&T in the 2nd quarter valued at approximately $78,000. Finally, Resources Management Corp CT ADV raised its holdings in shares of AT&T by 26.8% in the 2nd quarter. Resources Management Corp CT ADV now owns 5,309 shares of the technology company’s stock worth $85,000 after buying an additional 1,121 shares in the last quarter. 53.65% of the stock is currently owned by institutional investors and hedge funds.
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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