AT&T Inc. (NYSE:T) Announces $0.28 Quarterly Dividend

AT&T Inc. (NYSE:T) announced a quarterly dividend on Monday, September 30th, Wall Street Journal reports. Investors of record on Thursday, October 10th will be given a dividend of 0.2775 per share by the technology company on Friday, November 1st. This represents a $1.11 annualized dividend and a dividend yield of 5.05%. The ex-dividend date is Thursday, October 10th.

AT&T has decreased its dividend by an average of 18.9% annually over the last three years. AT&T has a dividend payout ratio of 48.7% meaning its dividend is sufficiently covered by earnings. Research analysts expect AT&T to earn $2.34 per share next year, which means the company should continue to be able to cover its $1.11 annual dividend with an expected future payout ratio of 47.4%.

AT&T Stock Up 0.5 %

T traded up $0.10 on Monday, hitting $22.00. The company had a trading volume of 26,073,614 shares, compared to its average volume of 36,123,871. The stock has a fifty day moving average price of $20.15 and a 200-day moving average price of $18.51. AT&T has a 12-month low of $14.12 and a 12-month high of $22.34. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.66 and a current ratio of 0.70. The stock has a market capitalization of $157.74 billion, a price-to-earnings ratio of 11.80, a P/E/G ratio of 3.68 and a beta of 0.59.

AT&T (NYSE:T) last issued its quarterly earnings results on Wednesday, July 24th. The technology company reported $0.57 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.57. AT&T had a return on equity of 14.16% and a net margin of 10.41%. The business had revenue of $29.80 billion for the quarter, compared to analyst estimates of $30.05 billion. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Analysts predict that AT&T will post 2.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Evercore ISI upped their target price on AT&T from $18.00 to $19.00 and gave the company an “in-line” rating in a research report on Thursday, July 25th. Daiwa America raised AT&T to a “hold” rating in a report on Friday, July 26th. Moffett Nathanson boosted their price target on AT&T from $17.00 to $18.00 and gave the company a “neutral” rating in a report on Thursday, August 15th. Deutsche Bank Aktiengesellschaft boosted their price target on AT&T from $24.00 to $26.00 and gave the company a “buy” rating in a report on Friday, June 28th. Finally, The Goldman Sachs Group initiated coverage on AT&T in a report on Monday, July 1st. They issued a “buy” rating and a $22.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.38.

AT&T Company Profile

AT&T Inc provides telecommunications and technology services worldwide. The company operates through two segments, Communications and Latin America. The Communications segment offers wireless voice and data communications services; and sells handsets, wireless data cards, wireless computing devices, carrying cases/protective covers, and wireless chargers through its own company-owned stores, agents, and third-party retail stores.