AT&T Inc. (NYSE:T – Get Rating) – Stock analysts at KeyCorp reduced their Q1 2023 earnings estimates for AT&T in a research report issued on Wednesday, January 25th. KeyCorp analyst B. Nispel now forecasts that the technology company will post earnings of $0.60 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 $2.39 per share. KeyCorp also issued estimates for AT&T's Q2 2023 earnings at $0.59 EPS, Q3 2023 earnings at $0.64 EPS, Q4 2023 earnings at $0.56 EPS and FY2023 earnings at $2.38 EPS.
Get AT&T alerts:AT&T (NYSE:T – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The technology company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.03. AT&T had a negative net margin of 6.60% and a positive return on equity of 14.18%. The firm had revenue of $31.30 billion for the quarter, compared to the consensus estimate of $31.50 billion. During the same period in the previous year, the firm posted $0.78 earnings per share. The firm's revenue was down 23.6% on a year-over-year basis.
A number of other brokerages also recently commented on T. Royal Bank of Canada lowered their price objective on shares of AT&T from $20.00 to $18.00 and set a "sector perform" rating on the stock in a research report on Friday, October 21st. Raymond James boosted their target price on shares of AT&T from $24.00 to $25.00 and gave the stock a "strong-buy" rating in a research report on Thursday. TheStreet downgraded shares of AT&T from a "b" rating to a "c" rating in a research report on Wednesday. Morgan Stanley downgraded shares of AT&T from an "overweight" rating to an "equal weight" rating and set a $20.00 target price for the company. in a research report on Thursday, December 15th. Finally, Barclays boosted their target price on shares of AT&T from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research report on Monday, October 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.00.AT&T Stock Performance
Shares of T opened at $19.95 on Friday. The company's 50 day moving average price is $18.97 and its 200 day moving average price is $18.11. AT&T has a 52 week low of $14.46 and a 52 week high of $22.84. The company has a market capitalization of $142.18 billion, a PE ratio of -16.73, a PEG ratio of 2.55 and a beta of 0.61. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.59.
AT&T Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 annualized dividend and a yield of 5.56%. The ex-dividend date is Monday, January 9th. AT&T's payout ratio is currently -93.28%.
Hedge Funds Weigh In On AT&T
Several large investors have recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec raised its stake in shares of AT&T by 44.3% in the 2nd quarter. Caisse DE Depot ET Placement DU Quebec now owns 34,252,184 shares of the technology company's stock valued at $717,926,000 after buying an additional 10,508,871 shares in the last quarter. Ensign Peak Advisors Inc raised its stake in shares of AT&T by 296.5% in the 2nd quarter. Ensign Peak Advisors Inc now owns 11,745,375 shares of the technology company's stock valued at $246,182,000 after buying an additional 8,783,340 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of AT&T by 537.1% in the 3rd quarter. Renaissance Technologies LLC now owns 9,931,986 shares of the technology company's stock valued at $152,357,000 after buying an additional 8,373,086 shares in the last quarter. Great West Life Assurance Co. Can acquired a new position in shares of AT&T in the 3rd quarter valued at $122,863,000. Finally, CI Investments Inc. raised its stake in shares of AT&T by 855,303.6% in the 2nd quarter. CI Investments Inc. now owns 7,510,444 shares of the technology company's stock valued at $157,419,000 after buying an additional 7,509,566 shares in the last quarter. 51.86% of the stock is currently owned by institutional investors and hedge funds.
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.
Further Reading
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