Brokers

Brokers Offer Predictions for AT&T Inc.’s Q3 2022 Earnings (NYSE:T)


AT&T Inc. (NYSE:TGet Rating) – Equities researchers at KeyCorp cut their Q3 2022 earnings per share estimates for shares of AT&T in a report released on Sunday, July 10th. KeyCorp analyst B. Nispel now forecasts that the technology company will earn $0.59 per share for the quarter, down from their prior estimate of $0.65. The consensus estimate for AT&T’s current full-year earnings is $2.52 per share. KeyCorp also issued estimates for AT&T’s Q4 2022 earnings at $0.56 EPS, FY2022 earnings at $2.46 EPS and FY2023 earnings at $2.44 EPS.

A number of other research analysts also recently commented on the stock. Wells Fargo & Company increased their price target on shares of AT&T from $21.00 to $23.00 and gave the company an “equal weight” rating in a report on Friday, July 8th. Citigroup reduced their price objective on shares of AT&T from $28.00 to $22.00 and set a “buy” rating on the stock in a research report on Tuesday, April 12th. Raymond James reaffirmed an “outperform” rating and set a $26.00 target price on shares of AT&T in a research report on Thursday, July 7th. Royal Bank of Canada reduced their target price on shares of AT&T from $30.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Monday, April 25th. Finally, Morgan Stanley reduced their target price on shares of AT&T from $28.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 13th. Eleven analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $24.67.

Shares of NYSE:T opened at $20.45 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.89 and a debt-to-equity ratio of 0.97. AT&T has a 12 month low of $16.62 and a 12 month high of $21.61. The company has a 50-day moving average price of $20.52 and a 200 day moving average price of $22.48. The company has a market cap of $146.40 billion, a price-to-earnings ratio of 8.63, a PEG ratio of 2.25 and a beta of 0.54.

AT&T (NYSE:TGet Rating) last released its quarterly earnings data on Thursday, April 21st. The technology company reported $0.77 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.01). AT&T had a net margin of 10.64% and a return on equity of 13.19%. The company had revenue of $38.10 billion for the quarter, compared to the consensus estimate of $38.29 billion. During the same period last year, the company earned $0.86 EPS. The firm’s revenue for the quarter was down 13.2% on a year-over-year basis.

A number of large investors have recently bought and sold shares of the business. BerganKDV Wealth Management LLC lifted its holdings in shares of AT&T by 6.3% in the 2nd quarter. BerganKDV Wealth Management LLC now owns 27,946 shares of the technology company’s stock worth $586,000 after acquiring an additional 1,652 shares during the last quarter. Franklin Street Advisors Inc. NC increased its stake in AT&T by 445.8% during the 2nd quarter. Franklin Street Advisors Inc. NC now owns 369,430 shares of the technology company’s stock worth $7,743,000 after buying an additional 301,739 shares during the period. Corsicana & Co. increased its position in shares of AT&T by 14.4% in the 2nd quarter. Corsicana & Co. now owns 3,975 shares of the technology company’s stock valued at $83,000 after purchasing an additional 500 shares during the last quarter. Monterey Private Wealth Inc. increased its position in shares of AT&T by 2.3% in the 2nd quarter. Monterey Private Wealth Inc. now owns 32,066 shares of the technology company’s stock valued at $672,000 after purchasing an additional 726 shares during the last quarter. Finally, Parkside Financial Bank & Trust increased its position in shares of AT&T by 45.0% in the 2nd quarter. Parkside Financial Bank & Trust now owns 29,535 shares of the technology company’s stock valued at $619,000 after purchasing an additional 9,162 shares during the last quarter. Institutional investors own 53.47% of the company’s stock.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Shareholders of record on Monday, July 11th will be issued a $0.2775 dividend. The ex-dividend date is Friday, July 8th. This represents a $1.11 annualized dividend and a yield of 5.43%. AT&T’s payout ratio is 46.84%.

AT&T Company Profile (Get Rating)

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

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



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