Zacks Research Brokers Decrease Earnings Estimates for AT&T

AT&T Inc. (NYSE:T) – Research analysts at Zacks Research reduced their FY2024 earnings estimates for AT&T in a research note issued to investors on Tuesday, December 17th. Zacks Research analyst R. Department now forecasts that the technology company will earn $2.18 per share for the year, down from their previous forecast of $2.21. The consensus estimate for AT&T’s current full-year earnings is $2.19 per share. Zacks Research also issued estimates for AT&T’s Q4 2024 earnings at $0.46 EPS, Q1 2025 earnings at $0.51 EPS, Q4 2025 earnings at $0.55 EPS, Q1 2026 earnings at $0.55 EPS, Q2 2026 earnings at $0.55 EPS, Q3 2026 earnings at $0.54 EPS and FY2026 earnings at $2.22 EPS.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, October 23rd. The technology company reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The firm had revenue of $30.20 billion for the quarter, compared to the consensus estimate of $30.50 billion. AT&T had a return on equity of 13.97% and a net margin of 7.42%. The company’s revenue for the quarter was down .5% on a year-over-year basis. During the same quarter last year, the business posted $0.64 EPS.

A number of other analysts have also commented on the stock. Morgan Stanley raised shares of AT&T from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $19.00 to $28.00 in a research report on Monday, December 16th. Sanford C. Bernstein started coverage on shares of AT&T in a research report on Tuesday, December 10th. They set an “outperform” rating and a $28.00 price target on the stock. New Street Research upgraded AT&T from a “neutral” rating to a “buy” rating in a report on Tuesday, December 3rd. Barclays upped their target price on AT&T from $24.00 to $27.00 and gave the stock an “overweight” rating in a report on Wednesday, December 4th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $22.00 price target on shares of AT&T in a research note on Thursday, October 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, AT&T has a consensus rating of “Moderate Buy” and a consensus target price of $25.53.

AT&T Trading Up 0.8 %

NYSE T opened at $22.75 on Thursday. The stock has a market capitalization of $163.24 billion, a price-to-earnings ratio of 18.50, a PEG ratio of 3.60 and a beta of 0.59. AT&T has a 52 week low of $15.94 and a 52 week high of $24.03. The stock’s 50 day moving average price is $22.61 and its two-hundred day moving average price is $20.73. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.67 and a current ratio of 0.73.

AT&T Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be paid a $0.2775 dividend. The ex-dividend date of this dividend is Friday, January 10th. This represents a $1.11 dividend on an annualized basis and a yield of 4.88%. AT&T’s dividend payout ratio (DPR) is currently 90.24%.

Hedge Funds Weigh In On AT&T

A number of large investors have recently made changes to their positions in T. Strategic Financial Concepts LLC increased its position in AT&T by 227.6% during the second quarter. Strategic Financial Concepts LLC now owns 131,813 shares of the technology company’s stock worth $25,000 after acquiring an additional 91,578 shares during the period. Legacy Investment Solutions LLC acquired a new position in shares of AT&T during the 3rd quarter worth approximately $25,000. Riggs Asset Managment Co. Inc. increased its holdings in shares of AT&T by 356.5% during the second quarter. Riggs Asset Managment Co. Inc. now owns 1,429 shares of the technology company’s stock worth $27,000 after purchasing an additional 1,116 shares during the period. Ritter Daniher Financial Advisory LLC DE raised its position in shares of AT&T by 169.2% in the third quarter. Ritter Daniher Financial Advisory LLC DE now owns 1,338 shares of the technology company’s stock valued at $29,000 after buying an additional 841 shares in the last quarter. Finally, American Capital Advisory LLC boosted its stake in shares of AT&T by 107.5% in the second quarter. American Capital Advisory LLC now owns 1,558 shares of the technology company’s stock valued at $30,000 after buying an additional 807 shares during the period. Institutional investors own 57.10% of the company’s stock.

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.