AT&T Inc. (NYSE:T – Free Report) – Analysts at KeyCorp lowered their Q3 2023 EPS estimates for AT&T in a note issued to investors on Wednesday, July 26th. KeyCorp analyst B. Nispel now anticipates that the technology company will earn $0.62 per share for the quarter, down from their prior estimate of $0.64. The consensus estimate for AT&T’s current full-year earnings is $2.42 per share. KeyCorp also issued estimates for AT&T’s FY2023 earnings at $2.40 EPS, Q3 2024 earnings at $0.63 EPS, Q4 2024 earnings at $0.56 EPS and FY2024 earnings at $2.43 EPS.
A number of other brokerages have also issued reports on T. Moffett Nathanson upgraded shares of AT&T from an “underperform” rating to a “market perform” rating and set a $17.00 target price on the stock in a research report on Tuesday, June 6th. HSBC cut their price target on AT&T from $21.00 to $19.00 in a research note on Monday, June 5th. TD Cowen cut their target price on shares of AT&T from $25.00 to $23.00 and set a “market perform” rating for the company in a research note on Friday, April 21st. StockNews.com started coverage on AT&T in a report on Thursday, May 18th. They issued a “hold” rating for the company. Finally, Wells Fargo & Company decreased their target price on AT&T from $22.00 to $20.00 and set an “overweight” rating for the company in a report on Thursday, July 20th. Ten equities research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, AT&T currently has an average rating of “Hold” and a consensus target price of $20.27.
AT&T Stock Down 0.4 %
Shares of NYSE:T opened at $14.45 on Monday. The stock has a market cap of $103.30 billion, a price-to-earnings ratio of -11.84, a price-to-earnings-growth ratio of 1.55 and a beta of 0.66. AT&T has a fifty-two week low of $13.43 and a fifty-two week high of $20.50. The company has a quick ratio of 0.47, a current ratio of 0.68 and a debt-to-equity ratio of 1.10. The firm’s 50 day moving average price is $15.46 and its 200 day moving average price is $17.58.
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 (EPS) for the quarter, topping the consensus estimate of $0.60 by $0.03. The business had revenue of $29.92 billion for the quarter, compared to analysts’ expectations of $30.07 billion. AT&T had a negative net margin of 7.22% and a positive return on equity of 15.91%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share.
Institutional Investors Weigh In On AT&T
Hedge funds have recently modified their holdings of the stock. Arcus Capital Partners LLC purchased a new stake in shares of AT&T during the 4th quarter worth about $26,000. Red Tortoise LLC bought a new position in shares of AT&T during the 4th quarter worth approximately $30,000. Steward Financial Group LLC raised its position in AT&T by 159.7% in the 1st quarter. Steward Financial Group LLC now owns 1,561 shares of the technology company’s stock valued at $30,000 after purchasing an additional 960 shares during the last quarter. Carmel Capital Partners LLC bought a new position in AT&T in the 1st quarter valued at $31,000. Finally, FWL Investment Management LLC acquired a new stake in shares of AT&T in the 4th quarter valued at $31,000. 54.09% of the stock is owned by hedge funds and other institutional investors.
AT&T Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be paid a dividend of $0.2775 per share. The ex-dividend date of this dividend is Friday, July 7th. This represents a $1.11 annualized dividend and a yield of 7.68%. AT&T’s dividend payout ratio is currently -90.98%.
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, and carrying cases and hands-free devices through its own company-owned stores, agents, and third-party retail stores.