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What's Going On With AT&T, Verizon And T-Mobile Shares Monday?
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What's Going On With AT&T, Verizon And T-Mobile Shares Monday?
Oct 21, 2024 8:52 PM

AT&T, Inc ( T ). , Verizon Communications, Inc. ( VZ ) , and T-Mobile US, Inc. ( TMUS ) shares are in the spotlight Monday with each company set to release earnings this week.

What To Know: Verizon will be the first of the telecom giants to release earnings, with the announcement expected on Tuesday before the market opens. Analysts are anticipating EPS of $1.18 and revenue of $33.43 billion, according to estimates from Benzinga Pro.

In the company’s latest quarter, Verizon reported revenue of $32.79 billion and EPS of $1.15, which was largely in line with estimates.

Scotiabank analyst Maher Yaghi maintained a Sector Perform rating on Verizon and raised the price target from $46.50 to $47.25 at the end of last week.

AT&T ( T ) and T-Mobile will release earnings on Wednesday. AT&T ( T ) is scheduled to report before the market opens, while T-Mobile is set to report after the market closes.

Analysts expect AT&T ( T ) to report EPS of 57 cents and revenue of $30.44 billion. In the second quarter, AT&T ( T ) reported revenue of $29.79 billion and EPS of 57 cents.

At the end of last quarter, AT&T ( T ) had more than 27.8 billion customer and business locations with fiber and was on track to exceed 30 billion locations with fiber by the end of 2025.

Wells Fargo analyst Eric Luebchow maintained an Overweight rating on AT&T ( T ) last week and raised the price target from $22 to $25 ahead of earnings.

AT&T ( T ) on Friday said its union workers represented by the Communications Workers of America voted to ratify two collective bargaining agreements, covering about 23,000 employees.

Related Link: Nvidia Stock Is Up Over 233% In The Past Year And Tech Bulls Say It Could Go Even Higher From Here: ‘…You’ll See The Stock Double Over The Next Several Years’

Finally, analysts expect T-Mobile to report revenue of $20 billion and EPS of $2.42. In its most recent quarter, the company reported EPS of $2.28 and revenue of $19.7 billion. T-Mobile also raised guidance for its 2024 postpaid net customer growth.

Scotiabank analyst Maher Yaghi downgraded T-Mobile on Friday from Sector Outperform to Sector Perform and raised the price target from $215.50 to $236. Earlier this month, Raymond James raised its price target from $208 to $221.

Price Action: At the time of publication, AT&T ( T ) shares were down 0.34% at $21.78, Verizon shares were down 0.43% at $43.80 and T-Mobile shares were down 0.06% at $223.07, according to data from Benzinga Pro.

Image: Shutterstock.

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