AT&T American Telephone and Telegraph (ATT) NYSE: T telekom, media

[slayer74]

AT&T: A Look At The 2 Key Metrics

Summary
AT&T recently reported solid Q2 2019 results that were well-received by the market.

I will take a look at the 2 metrics that are key to the long-term bull case for this company.

I hold a position in AT&T, and I plan to stay long the stock.
...
https://seekingalpha.com/article/427827 ... ngcom_feed

[slayer74]

AT&T: Why A Buyback Makes Perfect Sense
https://seekingalpha.com/article/428174 ... ngcom_feed

[slayer74]

AT&T: Why A Buyback Makes No Sense

Summary
AT&T faces a capital deployment decision at the end of 2019.

The wireless and media giant currently has a higher cost of equity capital via a dividend that costs nearly 6%.

Stock buybacks would initially provide positive cash flows without reducing debt levels, though the long-term financial benefits aren't certain.

The ultimate risk remains a hit to the business model with the company holding large debt levels.

https://seekingalpha.com/article/428686 ... ngcom_feed

[slayer74]

AT&T (NYSE:T) surged premarket 6.7% as activist investor Elliott Management announced it had built a $3.2 billion stake in the company, targeting a share price over over $60 by the end of 2021

[slayer74]

What Could AT&T Do With DirecTV?
At the end of June, AT&T Inc. (NYSE: T) reported that the company had 21.58 million combined subscribers for its DirecTV satellite and U-verse broadband services. When AT&T paid $67.1 billion (enterprise value) for DirecTV in 2015, the satellite TV provider had about 26 million subscribers on its own.

Now AT&T is looking at alternatives for its DirecTV business, including selling it, spinning it off, even combining it with competitor Dish Network Corp. (NASDAQ: DISH), or just keeping it in the stable. The company’s scrutiny is being hurried along by activist investor Paul Singer and his hedge fund, Elliott Management, which owns a stake of about 1% in AT&T and has demanded some changes.

Elliott argues that AT&T acquired DirecTV at the “absolute peak” of the market for pay-TV services. Since then, as consumers have turned to streaming services in greater numbers, they’ve parted company with both cable and satellite providers.
...
https://247wallst.com/media/2019/09/19/ ... h-directv/

[slayer74]

AT&T: Movie Business Is A Strong Opportunity

Summary
HBO and streaming is very important to AT&T, but so are film slates.

DC could eventually become a catalyst for streaming.

The deal with producer J.J. Abrams is a big positive.

The stock has shown strength, still has a good dividend yield, and is a buy.

https://seekingalpha.com/article/429246 ... ngcom_feed

[slayer74]

What This Key Analyst Is Saying About AT&T Ahead of Earnings

AT&T Inc. (NYSE: T) is scheduled to report its earnings in the coming weeks, and one analyst is getting out in front of the curve and issuing a call ahead of the results.

Nomura Instinet reiterated a Buy rating with a $43 price target, implying upside of 15.6% from the most recent closing price of $37.19.

The firm expects third-quarter results to be more positive than not. Nomura noted that AT&T’s reticence to match Verizon’s price cut implies confidence in wireless, and activist firm Elliott Management may speed cost savings and asset sales.

Nomura believes that a letter from Elliott may spur a bit more cost savings and asset sales. That letter to the AT&T board calls for changes in management, as well as a new strategy for the Wireless division. Elliott hopes to raise EBITDA margins by $5 billion by trimming SG&A, real estate and network operations. While much of Elliott’s plan is consistent with AT&T’s existing strategy, Elliott’s involvement may speed progress. Nomura does not expect AT&T to divest DirecTV.

The one-time video subscriber impact of carriage disputes with CBS and Nextstar could be about 300,000. Nomura now models a million video subscriber losses (consensus estimates are calling for 900,000), although it believes EBITDA stability remains on track.

https://247wallst.com/telecom-wireless/ ... -earnings/

[slayer74]

Why I Sold My Position In AT&T After Being Bullish For Months?
https://seekingalpha.com/article/429551 ... ngcom_feed

[slayer74]

America’s largest telecom operator, AT&T (NYSE:T), will report Q3 2019 earnings on Monday, Oct. 28, before the market opens. Analysts, on average expect $0.93 a share profit for the period on sales of $45.13 billion.
https://www.investing.com/analysis/3-st ... -200478781

[slayer74]

America’s largest telecom operator, AT&T (NYSE:T), will report Q3 2019 earnings on Monday, Oct. 28, before the market opens. Analysts, on average expect $0.93 a share profit for the period on sales of $45.13 billion.
https://www.investing.com/analysis/3-st ... -200478781

AT&T (T) came out with quarterly earnings of $0.94 per share, beating the Zacks Consensus Estimate of $0.93 per share. This compares to earnings of $0.90 per share a year ago. These figures are adjusted for non-recurring items.

This quarterly report represents an earnings surprise of 1.08%. A quarter ago, it was expected that this telecommunications company would post earnings of $0.89 per share when it actually produced earnings of $0.89, delivering no surprise.

Over the last four quarters, the company has surpassed consensus EPS estimates three times.

AT&T, which belongs to the Zacks Wireless National industry, posted revenues of $44.59 billion for the quarter ended September 2019, missing the Zacks Consensus Estimate by 0.88%. This compares to year-ago revenues of $45.74 billion. The company has not been able to beat consensus revenue estimates over the last four quarters.

The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call.

AT&T shares have added about 29.3% since the beginning of the year versus the S&P 500's gain of 20.6%.

What's Next for AT&T?

While AT&T has outperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock?

There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.

Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.

Ahead of this earnings release, the estimate revisions trend for AT&T was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here.

It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.89 on $47.22 billion in revenues for the coming quarter and $3.56 on $181.99 billion in revenues for the current fiscal year.

Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Wireless National is currently in the top 29% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.

https://www.investing.com/analysis/att- ... -200478927

[slayer74]

AT&T Earnings Are Not What’s Pushing Up the Share Price?

AT&T Inc. (NYSE: T) reported third-quarter 2019 results before markets opened Monday. The telecom giant reported adjusted diluted quarterly earnings per share (EPS) of $0.94 on revenues of $44.6 billion. In the same period a year ago, the company reported EPS of $0.90 on revenues of $45.7 billion. Third-quarter results also compare to the consensus estimates for EPS of $0.93 on revenues of $45 billion.

On a GAAP basis, the company reported quarterly EPS of $0.50, including $0.44 related to a noncash actuarial loss on benefit plans, merger amortization costs and expenses, and other costs.

Operating cash flow totaled $11.4 billion and capital expenditures totaled $5.4 billion in the quarter. Free cash flow totaled $6.2 billion.

The big news was the company’s announcement of its three-year financial outlook and capital allocation plan, which it expects to “drive significant growth in EBITDA margins and EPS, and allow the company to invest in growth areas, retire shares, and continue to pay down debt.”

https://247wallst.com/telecom-wireless/ ... are-price/

[slayer74]

WarnerMedia (NYSE:T) outbid Netflix, to the tune of around $400M-$500M, for the rights to 'Friends' this past year, and all 236 episodes will be available on HBO Max when it launches this May.
https://seekingalpha.com/news/3529022-f ... king_alpha

[slayer74]

AT&T: Expect A Big 2020

Summary
With 2020 now underway, it's important to reflect on 2019 and to focus on the future prospects for AT&T for the new year.

The company has come a long way recently, and investors should expect robust results to continue.

The firm has a lot of value drivers, though the largest of these does carry some uncertainty.

https://seekingalpha.com/article/431508 ... king_alpha


Buffett Style Free Cash Flow Analysis Of AT&T
https://seekingalpha.com/article/431495 ... king_alpha

[slayer74]

AT&T increases in its dividend, upping the quarterly dividend 1.96% from $0.51 to $0.52 DY 5.4%

https://www.dividend.com/news/2020/01/0 ... -dividend/

[slayer74]

AT&T Offers Assurances on Its Liquidity and Dividend
Jon C. Ogg
April 7, 2020 9:53 am
AT&T Inc. (NYSE: T) stock had fallen significantly from its highs, and the leading telecom is supposed to be one of the safer companies for income investors. The fear was that AT&T’s dividend might be pressured as the company has vast debt at a time when the value of Time Warner would not be much lower than when it was acquired. According to AT&T, that just isn’t the case.

AT&T’s COVID-19 update showed that the company is financially strong with a healthy balance sheet and ample liquidity. It had roughly $12 billion in cash on the books at the end of 2019, and since that time it issued about $4 billion from preferred stock issuances in February, which also came at lower yields than it pays on its common stock. While AT&T executed a $4 billion accelerated share repurchase plan in March of 2020, the company canceled that plan, which was to be conducted during the second quarter.

Its operating businesses are also expected to support the dividend payments and to keep on track of retiring debt. AT&T also expects to bring in roughly $2 billion later this year from its already announced divestiture of CME and additional capital coming in as it monetizes its stakes in real estate and towers. AT&T anticipates closing the sale of its Puerto Rico and U.S. Virgin Islands operations, and the capital brought in will be used to retire an outstanding preferred interest.

The company has brought on a $5.5 billion term-loan agreement that came from 12 different banks in an effort to shore up additional capital. Also shown in the update was that it has continued access to selling commercial paper and has access to the bond markets and other financing activities that will continue under its normal financing activities.

As for the dividend, the press release said:

As it has for the past 36 years, the company looks forward to continuing to pay a quarterly dividend to shareholders. On March 27, the Board of Directors declared a dividend payable on May 1, 2020, to stockholders of record of its common and preferred shares at the close of business on April 9, 2020.

At the current share price, AT&T still pays its common shareholders a 6.8% dividend yield, which is significantly higher than at many companies in telecom, communications and media.

AT&T stock traded up 3.5% at $30.50 on Tuesday morning. Its 52-week trading range is $26.08 to $39.70, and its Refinitiv consensus analyst target price was still up at $36.70.

https://247wallst.com/telecom-wireless/ ... all+St.%29

AT&T stock jumped Tuesday as the telecom and media conglomerate said it has obtained a $5.5 billion loan from 12 banks to provide "financial flexibility" as the U.S. economy heads into a recession.
https://www.investors.com/news/technolo ... bank-loan/