AT&T (NYSE:T) Releases FY23 Earnings Guidance

Financial News Live · Jan 26, 2023 10:42

AT&T (NYSE:T – Get Rating) updated its FY23 earnings guidance on Wednesday. The company provided earnings per share guidance of $2.35-2.45 for the period, compared to the consensus earnings per share estimate of $2.56. AT&T also updated its FY 2023 guidance to $2.35-$2.45 EPS.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Morgan Stanley downgraded shares of AT&T from an overweight rating to an equal weight rating and set a $20.00 target price on the stock. in a research note on Thursday, December 15th. Wells Fargo & Company raised shares of AT&T from an equal weight rating to an overweight rating and boosted their target price for the company from $17.00 to $22.00 in a research note on Tuesday, January 10th. Royal Bank of Canada cut their target price on shares of AT&T from $20.00 to $18.00 and set a sector perform rating on the stock in a research note on Friday, October 21st. Credit Suisse Group boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the company a neutral rating in a research note on Thursday. Finally, Raymond James upped their price target on shares of AT&T from $24.00 to $25.00 and gave the stock a strong-buy rating in a research note on Thursday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of Moderate Buy and a consensus price target of $22.56.

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AT&T Trading Down 1.2 %

Shares of NYSE:T opened at $20.17 on Thursday. The stock has a market capitalization of $143.75 billion, a PE ratio of 7.56, a P/E/G ratio of 2.23 and a beta of 0.61. AT&T has a 1 year low of $14.46 and a 1 year high of $22.84. The firm has a fifty day moving average price of $18.95 and a 200 day moving average price of $18.10. The company has a current ratio of 0.62, a quick ratio of 0.54 and a debt-to-equity ratio of 0.88.

AT&T (NYSE:T – Get Rating) last released its quarterly earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. AT&T had a net margin of 14.44% and a return on equity of 13.24%. The company had revenue of $31.30 billion during the quarter, compared to analysts' expectations of $31.50 billion. During the same period in the prior year, the company earned $0.78 earnings per share. The business's quarterly revenue was down 23.6% compared to the same quarter last year. Analysts expect that AT&T will post 2.64 EPS for the current fiscal year.

AT&T Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, 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 5.50%. The ex-dividend date of this dividend is Monday, January 9th. AT&T's dividend payout ratio (DPR) is 41.11%.

Institutional Investors Weigh In On AT&T

Several hedge funds have recently made changes to their positions in T. Axiom Financial Strategies LLC lifted its stake in shares of AT&T by 12.2% in the first quarter. Axiom Financial Strategies LLC now owns 17,888 shares of the technology company's stock valued at $342,000 after buying an additional 1,941 shares during the period. Roundview Capital LLC raised its position in AT&T by 62.3% in the first quarter. Roundview Capital LLC now owns 24,628 shares of the technology company's stock worth $582,000 after purchasing an additional 9,450 shares in the last quarter. Sei Investments Co. raised its position in AT&T by 23.1% in the first quarter. Sei Investments Co. now owns 1,099,843 shares of the technology company's stock worth $25,983,000 after purchasing an additional 206,434 shares in the last quarter. Candriam Luxembourg S.C.A. raised its position in AT&T by 5.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 476,601 shares of the technology company's stock worth $11,262,000 after purchasing an additional 25,028 shares in the last quarter. Finally, Loomis Sayles & Co. L P raised its position in AT&T by 1,191.3% in the first quarter. Loomis Sayles & Co. L P now owns 12,706 shares of the technology company's stock worth $300,000 after purchasing an additional 11,722 shares in the last quarter. Institutional investors own 51.86% of the company's stock.

AT&T Company Profile

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AT&T Inc provides telecommunications, media, and technology services worldwide. Its 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.