SunTrust Banks Weighs in on AT&T Inc.’s Q3 2019 Earnings (T)

AT&T Inc. (NYSE:T) – Stock analysts at SunTrust Banks dropped their Q3 2019 earnings per share estimates for AT&T in a research note issued on Wednesday, April 24th. SunTrust Banks analyst G. Miller now expects that the technology company will post earnings of $0.95 per share for the quarter, down from their prior estimate of $0.96. SunTrust Banks also issued estimates for AT&T’s Q4 2019 earnings at $0.86 EPS and Q2 2020 earnings at $0.94 EPS.

Several other analysts have also recently issued reports on the company. Desjardins restated an “average” rating and set a $56.50 price objective on shares of AT&T in a research note on Friday, April 5th. ValuEngine upgraded AT&T from a “strong sell” rating to a “sell” rating in a research note on Wednesday, March 20th. Raymond James upgraded AT&T from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Friday, March 15th. They noted that the move was a valuation call. Cowen restated a “buy” rating and set a $35.00 price objective on shares of AT&T in a research note on Thursday, January 31st. Finally, Barclays set a $32.00 price objective on AT&T and gave the company a “hold” rating in a research note on Friday, January 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company. AT&T currently has a consensus rating of “Hold” and an average price target of $36.26.

NYSE:T opened at $30.68 on Monday. AT&T has a one year low of $26.80 and a one year high of $34.53. The stock has a market capitalization of $188.34 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 1.29 and a beta of 0.59. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.80 and a current ratio of 0.72.

AT&T (NYSE:T) last released its quarterly earnings results on Wednesday, April 24th. The technology company reported $0.86 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.86. AT&T had a return on equity of 13.16% and a net margin of 10.59%. The business had revenue of $44.83 billion for the quarter, compared to analysts’ expectations of $45.20 billion. During the same quarter in the previous year, the firm posted $0.85 earnings per share. The company’s revenue was up 17.8% compared to the same quarter last year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a dividend of $0.51 per share. This represents a $2.04 annualized dividend and a dividend yield of 6.65%. The ex-dividend date is Tuesday, April 9th. AT&T’s dividend payout ratio (DPR) is presently 57.95%.

In other news, CEO John T. Stankey sold 3,748 shares of the company’s stock in a transaction that occurred on Thursday, January 31st. The stock was sold at an average price of $29.84, for a total transaction of $111,840.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.07% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of the company. Oregon Public Employees Retirement Fund grew its holdings in AT&T by 6,759.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 96,680,677 shares of the technology company’s stock worth $3,388,000 after buying an additional 95,271,251 shares in the last quarter. Norges Bank bought a new position in AT&T in the 4th quarter worth approximately $2,077,198,000. BlackRock Inc. grew its holdings in AT&T by 4.0% in the 4th quarter. BlackRock Inc. now owns 454,818,786 shares of the technology company’s stock worth $12,980,526,000 after buying an additional 17,703,030 shares in the last quarter. Geode Capital Management LLC grew its holdings in AT&T by 8.2% in the 4th quarter. Geode Capital Management LLC now owns 92,792,834 shares of the technology company’s stock worth $2,643,990,000 after buying an additional 7,017,620 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings in AT&T by 0.6% in the 3rd quarter. Vanguard Group Inc. now owns 531,005,481 shares of the technology company’s stock worth $17,831,164,000 after buying an additional 3,379,045 shares in the last quarter. 64.51% of the stock is owned by institutional investors.

About AT&T

AT&T Inc provides telecommunication, media, and technology services worldwide. The company operates through four segments: Communications, WarnerMedia, Latin America, and Xandr. The Communications segment provides wireless and wireline telecom, video, and broadband and Internet services; video entertainment services using satellite, IP-based, and streaming options; and audio programming services under the AT&T, Cricket, AT&T PREPAID, and DIRECTV brands to residential and business customers.

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

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