AT&T Inc. (NYSE:T – Get Rating) – Research analysts at William Blair issued their Q1 2023 earnings per share estimates for shares of AT&T in a report issued on Wednesday, January 25th. William Blair analyst J. Breen forecasts that the technology company will earn $0.60 per share for the quarter. The consensus estimate for AT&T's current full-year earnings is $2.39 per share. William Blair also issued estimates for AT&T's Q2 2023 earnings at $0.60 EPS, Q3 2023 earnings at $0.62 EPS, Q4 2023 earnings at $0.57 EPS, FY2023 earnings at $2.39 EPS and FY2024 earnings at $2.43 EPS.
Get AT&T alerts:A number of other equities analysts also recently weighed in on T. Wells Fargo & Company raised AT&T from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $17.00 to $22.00 in a research report on Tuesday, January 10th. Truist Financial raised AT&T from a "hold" rating to a "buy" rating and set a $21.00 price objective for the company in a report on Friday, October 21st. Raymond James increased their price objective on AT&T from $24.00 to $25.00 and gave the company a "strong-buy" rating in a report on Thursday. Cowen increased their price objective on AT&T from $24.00 to $25.00 in a report on Thursday. Finally, Barclays increased their price objective on AT&T from $18.00 to $19.00 and gave the company an "equal weight" rating in a report on Monday, October 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, AT&T has an average rating of "Moderate Buy" and a consensus target price of $22.00.
AT&T Trading Down 0.3 %
NYSE:T opened at $19.95 on Friday. AT&T has a twelve month low of $14.46 and a twelve month high of $22.84. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average price of $18.97 and a two-hundred day moving average price of $18.11. The company has a market cap of $142.18 billion, a P/E ratio of -16.73, a price-to-earnings-growth ratio of 2.55 and a beta of 0.61.AT&T (NYSE:T – Get Rating) last posted its earnings results on Wednesday, January 25th. The technology company reported $0.61 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.58 by $0.03. AT&T had a positive return on equity of 14.18% and a negative net margin of 6.60%. The business 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 business earned $0.78 EPS. AT&T's revenue for the quarter was down 23.6% compared to the same quarter last year.
AT&T Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 1st. Stockholders of record on Tuesday, January 10th will be paid a dividend of $0.2775 per share. This represents a $1.11 dividend on an annualized basis and a dividend yield of 5.56%. The ex-dividend date of this dividend is Monday, January 9th. AT&T's payout ratio is -93.28%.
Institutional Trading of AT&T
Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of AT&T by 0.7% in the third quarter. Vanguard Group Inc. now owns 600,524,205 shares of the technology company's stock worth $9,212,041,000 after acquiring an additional 3,894,916 shares during the period. State Street Corp lifted its stake in shares of AT&T by 1.6% in the third quarter. State Street Corp now owns 280,895,582 shares of the technology company's stock worth $4,308,938,000 after acquiring an additional 4,430,454 shares during the period. Newport Trust Co lifted its stake in shares of AT&T by 2.0% in the third quarter. Newport Trust Co now owns 203,165,755 shares of the technology company's stock worth $3,116,563,000 after acquiring an additional 3,888,097 shares during the period. Northern Trust Corp lifted its stake in shares of AT&T by 1.3% in the second quarter. Northern Trust Corp now owns 76,189,792 shares of the technology company's stock worth $1,596,938,000 after acquiring an additional 950,450 shares during the period. Finally, Legal & General Group Plc lifted its stake in shares of AT&T by 4.8% in the second quarter. Legal & General Group Plc now owns 52,838,773 shares of the technology company's stock worth $1,107,506,000 after acquiring an additional 2,402,764 shares during the period. 51.86% of the stock is owned by institutional investors and hedge funds.
About AT&T
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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.
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