AT&T (NYSE:T) Issues FY21 Earnings Guidance

AT&T (NYSE:T) issued an update on its FY21 earnings guidance on Thursday morning. The company provided EPS guidance of $3.21-3.34 for the period, compared to the Thomson Reuters consensus EPS estimate of $3.14. The company issued revenue guidance of $175.19-176.91 billion, compared to the consensus revenue estimate of $173.93 billion.AT&T also updated its FY 2021 guidance to EPS.

NYSE T traded up $0.04 on Thursday, reaching $27.94. The stock had a trading volume of 1,152,941 shares, compared to its average volume of 30,837,840. The firm has a 50 day simple moving average of $29.14. The company has a debt-to-equity ratio of 0.88, a current ratio of 0.82 and a quick ratio of 0.78. AT&T has a 1 year low of $26.35 and a 1 year high of $33.88. The company has a market capitalization of $199.49 billion, a P/E ratio of -79.71, a price-to-earnings-growth ratio of 2.76 and a beta of 0.79.

AT&T (NYSE:T) last issued its earnings results on Thursday, July 22nd. The technology company reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. AT&T had a positive return on equity of 12.33% and a negative net margin of 1.29%. The firm had revenue of $44.05 billion for the quarter, compared to the consensus estimate of $42.39 billion. During the same quarter in the previous year, the company posted $0.83 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, research analysts forecast that AT&T will post 3.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Friday, July 9th will be paid a dividend of $0.52 per share. The ex-dividend date of this dividend is Thursday, July 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.44%. AT&T’s dividend payout ratio (DPR) is presently 65.41%.

Several analysts have recently issued reports on the company. Royal Bank of Canada assumed coverage on AT&T in a research note on Thursday. They set a hold rating and a $30.00 price target for the company. Scotiabank upgraded AT&T from a sector underperform rating to a sector perform rating and upped their price target for the stock from $28.00 to $31.00 in a research note on Wednesday, June 16th. Redburn Partners assumed coverage on AT&T in a research note on Friday, June 25th. They set a sell rating and a $23.00 price target for the company. Deutsche Bank Aktiengesellschaft upped their price target on AT&T from $31.00 to $34.00 in a research note on Wednesday, April 28th. Finally, UBS Group upgraded AT&T from a neutral rating to a buy rating and increased their target price for the company from $32.00 to $35.00 in a research note on Friday, May 21st. Three analysts have rated the stock with a sell rating, seven have given a hold rating and eight have given a buy rating to the company. AT&T has a consensus rating of Hold and an average target price of $31.39.

In other AT&T news, CFO Pascal Desroches purchased 3,056 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The shares were acquired at an average cost of $29.06 per share, for a total transaction of $88,807.36. Following the transaction, the chief financial officer now directly owns 173,871 shares in the company, valued at $5,052,691.26. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John T. Stankey purchased 34,614 shares of the firm’s stock in a transaction that occurred on Wednesday, May 19th. The shares were acquired at an average price of $28.81 per share, for a total transaction of $997,229.34. The disclosure for this purchase can be found here. Corporate insiders own 0.08% of the company’s stock.

An institutional investor recently bought a new position in AT&T stock. OLD Mission Capital LLC purchased a new position in shares of AT&T Inc. (NYSE:T) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 15,890 shares of the technology company’s stock, valued at approximately $453,000. 50.40% of the stock is owned by hedge funds and other institutional investors.

AT&T Company Profile

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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Earnings History and Estimates for AT&T (NYSE:T)

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