T - AT&T Inc.

NYSE - NYSE Delayed price. Currency in USD
38.50
-0.13 (-0.34%)
At close: 4:05PM EST
Stock chart is not supported by your current browser
Previous close38.63
Open38.60
Bid38.42 x 2200
Ask38.50 x 3100
Day's range38.23 - 38.78
52-week range28.92 - 39.70
Volume30,633,769
Avg. volume29,646,044
Market cap281.243B
Beta (5Y monthly)0.59
PE ratio (TTM)17.26
EPS (TTM)2.23
Earnings date28 Jan 2020
Forward dividend & yield2.08 (5.38%)
Ex-dividend date08 Jan 2020
1y target est39.17
  • Can Wireless & WarnerMedia Traction Aid AT&T (T) Q4 Earnings?
    Zacks

    Can Wireless & WarnerMedia Traction Aid AT&T (T) Q4 Earnings?

    Increased 5G deployments and steady revenue stream from WarnerMedia segment is likely to drive fourth-quarter earnings of AT&T (T).

  • Comcast Is Entering The Streaming Space With A Different Approach
    Zacks

    Comcast Is Entering The Streaming Space With A Different Approach

    Streaming is taking over the world of media slowly but surely, and Comcast is pivoting to a strategy that emphasizes "slowly but surely"

  • Comcast's Bad Omen for AT&T
    Bloomberg

    Comcast's Bad Omen for AT&T

    (Bloomberg Opinion) -- Cord-cutting isn’t stopping. As it turns out, that’s not such bad news for cable giants like Comcast Corp. It is, however, for AT&T Inc. The streaming wars intensified in the fourth quarter amid Walt Disney Co.’s advertising blitz for its new Disney+ service that overtook billboards, shopping malls, public transit and Twitter feeds. At the same time, Apple Inc. began giving away Apple TV+ free to anyone buying a new iDevice of some sort. Comcast is the first of the traditional media giants to report results for this period, giving a glimpse on Thursday morning at how the pay-TV industry fared as consumers were given more reasons than ever before to ditch cable, skip the box office and start streaming from their couches.Comcast itself reported a generally strong quarter: It signed up 442,000 net new internet customers, one of its biggest boosts ever, while the NBCUniversal media networks took in higher ad revenue and guests also spent more money at its theme parks. Film was a weak spot, with adjusted Ebitda in that business dropping nearly 50%, as its musical “Cats” bombed in theaters. Even more telling, though, was that Comcast’s cable unit lost more video subscribers than expected — 149,000, mostly residential — a sour indicator for AT&T, which is scheduled to report its own results on Jan. 29. “We expect higher video subscriber losses this year,” Brian Roberts, chairman and CEO of Comcast, said on Thursday’s earnings call. (Even Netflix Inc. is forecasting higher churn in the U.S., after subscriber gains slowed.)Although Comcast may be best known (or hated) by consumers for its cable-TV service, that’s actually its least relevant business. Internet users at Comcast have outnumbered video subscribers since at least 2015, and Comcast management has done a good job of shifting attention to the growth coming from broadband. In unveiling its Peacock app last week, Comcast also gave investors confidence that it’s taking a different tack in streaming than its rivals, choosing to go the free, ad-supported route, which will help Peacock garner eyeballs and not have to compete on price like the others are. AT&T is another story. The wireless carrier is carrying a boatload of debt from its 2018 acquisition of Time Warner, a deal that tied AT&T’s fortunes to the more volatile and uncertain future of pay TV. Its DirecTV/Entertainment Group — about 25% of total company revenue — has lost customers more rapidly than the rest of the industry on account of price hikes aimed at lifting profit and reducing debt. So if video customers were abandoning Comcast last quarter, they were most certainly dumping DirecTV, a technologically inferior product.Even AT&T TV Now, a virtual skinny-bundle service (formerly known as DirecTV Now), has been shrinking as customers look to cheaper options. AT&T’s WarnerMedia division will introduce HBO Max in May for a monthly subscription price of $15, the same rate as regular HBO but with the added bonus of a library of Warner Bros. films, content from its Turner networks, old episodes of “Friends” and “The Big Bang Theory” and a slate of original content. But HBO is still the main reason to get HBO Max, and so the question becomes, does everyone who wants HBO already have it? AT&T is investing $2 billion in the product this year, an expense that will ramp up to $4 billion by 2024. It’s not expected to start making money until the following year.Between the debt and streaming foray, the new AT&T still has a lot to prove — and a lot to spend. It won’t help matters if its media networks take a big hit from cord-cutting and if a chunk of those cord-cutters are fleeing DirecTV specifically.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • AT&T (T) Outpaces Stock Market Gains: What You Should Know
    Zacks

    AT&T (T) Outpaces Stock Market Gains: What You Should Know

    AT&T (T) closed the most recent trading day at $39.05, moving +1.38% from the previous trading session.

  • AT&T (T) Earnings Expected to Grow: Should You Buy?
    Zacks

    AT&T (T) Earnings Expected to Grow: Should You Buy?

    AT&T (T) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.

  • ETFs in Focus on Netflix's Solid Q4 But Weak Outlook
    Zacks

    ETFs in Focus on Netflix's Solid Q4 But Weak Outlook

    Netflix offered a weak outlook, raising concerns about its dominance in an increasingly crowded field.

  • Netflix Slides on Outlook for Greater Competitive Threats
    Bloomberg

    Netflix Slides on Outlook for Greater Competitive Threats

    (Bloomberg) -- Netflix Inc. says it’s ready to take on the toughest year in its history in terms of new streaming competition. Investors have their doubts.Netflix delivered generally upbeat fourth-quarter results after Tuesday’s close, with overseas growth helping offset a slowdown at home, but it expects to add fewer subscribers in the current quarter than Wall Street projected.The shares tumbled as much as 3.7%, the most since November, in New York trading Wednesday morning, after trending mostly higher amid volatile trading since the postclose report.With technology and media giants such as Apple Inc., AT&T Inc., Comcast Corp. and Walt Disney Co. all bringing new video platforms online, Netflix is working to keep customers loyal with a flood of shows and movies. The company plans to boost its spending by 20% this year, bringing its programming budget to about $12 billion on a profit-and-loss basis.“We view our big long-term opportunity as big and unchanged,” Chief Executive Officer Reed Hastings said during a pretaped recap of its fourth-quarter earnings, released Tuesday.Despite the muted first-quarter subscriber forecast, Netflix said there’s “ample room for many services to grow.”Netflix investors have been grappling with whether the company’s days of reliable growth are over. The company added fewer customers in 2019 than it did in 2018, and its increase in the U.S. and Canada decelerated by more than 3 million. In posting the results Tuesday, Netflix said price hikes and a growing array of options have made it harder to attract customers.It’s only going to get tougher. Apple’s TV+ and the Disney+ platform both launched in the U.S. during November, enticing consumers with lower-cost services, while AT&T’s HBO Max and Comcast’s Peacock are both coming online in the next few months.All those competitors are likely to slow customer additions and increase the number of existing customers who cancel Netflix.Against that backdrop, Netflix posted its weakest year of domestic subscriber growth since it first broke out its online service from the company’s traditional DVD-by-mail business in 2011. Netflix is projecting a gain of 7 million paid subscribers worldwide in the first quarter, short of the 7.82 million estimate.“We are working hard to improve our service to combat these factors,” it said in a letter to shareholders.Staying the CourseBut the Los Gatos, California-based company argues that its strategy is still sound, and competition shouldn’t cause it to change course. Losing popular shows such as “Friends” to its new rivals has had no impact on viewership so far. Netflix subscribers are just finding other shows to watch, Chief Content Officer Ted Sarandos said.For proof, Netflix can point to its global growth in the latest quarter. The company added 8.76 million customers in the period, compared with forecasts of 7.65 million. Hastings described them as “amazing numbers.”Netflix has pinned its future potential on growth outside the U.S., where it doesn’t yet face the same level of competition. Europe and Latin America have been the company’s engine in the past couple years, and continued to serve that role in the fourth quarter. Netflix added 4.4 million customers in Europe, bringing its overall total to almost 52 million, and another 2.04 million customers in Latin America.Non-English ShowsNetflix plans to release more than 100 seasons of local language programming next year. Though its biggest global hits are mostly English-language shows such as “Stranger Things” and “The Witcher,” its most popular programs in many territories are in other languages, like Spain’s “Casa de Papel.” The company is also experimenting with different pricing plans in Asia.Netflix has borrowed billions to fund all that programming, and its long-term debt stands at almost $15 billion. But the company said this past year will mark the high-water mark in terms of its cash burn. Earnings of $1.30 a share also handily beat analyst estimates of 30 cents, lifted by a tax benefit.Investors weren’t sure what to make of Netflix’s results at first. The shares had dropped as much as 3% to $327.97 in extended trading before rebounding, then drifted lower again Wednesday morning into the open. The company’s shares had climbed 4.5% so far this year before Tuesday’s close.“After several years of unchecked dominance in the U.S. streaming-video industry, Netflix faces high-profile new streaming rivals,” Geetha Ranganathan, a Bloomberg Intelligence analyst, said in a report. “Yet the breadth of its content and a compelling value proposition will make it hard for new entrants like Disney+ to unseat the company.”(An earlier version of the story corrected a quarterly financial comparison.)To contact the reporter on this story: Lucas Shaw in Los Angeles at lshaw31@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, John J. Edwards III, Cécile DauratFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • AT&T Finds a New Way to Help Grind Down Its Debt Mountain
    Bloomberg

    AT&T Finds a New Way to Help Grind Down Its Debt Mountain

    (Bloomberg) -- AT&T Inc.’s obsession with paying down debt has led to some financial creativity.Right before the end of 2019, AT&T took a collection of cell-tower rent payments that it will receive in the future, rolled them into a subsidiary, then sold shares of the unit to investors for $6 billion.The new entity is called AT&T Investment & Tower Holdings LLC, and the preferred shares pay as much as 5% annually, according to a filing last month. The proceeds will go toward general purposes and paying down debt, AT&T said.The move is the largest in an ongoing effort by AT&T to turn assorted assets into cash that it can use to whittle away at its borrowings. AT&T has set a goal to lower its leverage ratio to between 2 and 2.25, a target it promised shareholders, including activist investor Elliott Management Corp.In this case, with the tower receivables, AT&T raised $6 billion up front, which requires an interest payment of 4.75% to 5%. While that’s a higher interest rate than nearly any loan AT&T could have received, the one significant advantage is that the $6 billion doesn’t add to its $165 billion debt pile.“This is a bit of a surprise for a high-grade-debt company like AT&T,” said Dave Novosel, an analyst with Gimme Credit.AT&T representatives declined to comment on the tower-receivables entity, citing a quiet period ahead of its earnings report later this month.$200 BillionAT&T’s mountain of debt reached $200 billion after its 2018 purchase of Time Warner. The deal was part of the phone company’s strategy to transform into a modern media colossus. In the past year, the Dallas-based company has sold at least $7 billion worth of assets. Some were easy castoffs, such as its stake in Hulu and its office space in New York’s Hudson Yards.It’s all part of the plan AT&T Chief Financial Officer John Stephens pitched anew to investors earlier this month at a Citigroup conference in Las Vegas.“I’ve got to find some assets to monetize, whether it’s selling out Hudson Yards or selling Hulu or whether it’s finding these tower-company receivables,” Stephens said. AT&T has to “go out and figure out a way to monetize those things that people didn’t pay much attention to. That was a significant part of what we did in the fourth quarter.”The timing was ideal if AT&T wanted to stay below the radar, Novosel said.“December is a time when people are focused on other things,” he said. “It’s a good time to avoid attention.”\--With assistance from Miles Weiss.To contact the reporter on this story: Scott Moritz in New York at smoritz6@bloomberg.netTo contact the editors responsible for this story: Nick Turner at nturner7@bloomberg.net, John J. Edwards IIIFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • Netflix Beats Expectations and The Street Is Not Impressed
    Zacks

    Netflix Beats Expectations and The Street Is Not Impressed

    Netflix needs to continue producing quality content to remain a streaming necessity

  • Reuters - UK Focus

    Animated British royal comedy 'The Prince' to make debut on HBO Max

    Animated versions of Britain's Prince Harry and his wife Meghan Markle will have supporting roles in a British royal family satire that will make its debut on AT&T Inc's HBO Max streaming video service, the company said on Tuesday. The show was inspired by Janetti's Instagram account with close to a million followers, and explores the life of British royalty through the eyes of six-year-old Prince George, the oldest child of Prince William and Kate Middleton. Queen Elizabeth II and Prince George's parents also will be characters - with actors doing their voices of course.

  • Ad-Supported Streaming Services to Gain Momentum in 2020
    Zacks

    Ad-Supported Streaming Services to Gain Momentum in 2020

    Ad-supported streaming services like Comcast's Peacock and Disney's Hulu among others are well poised to gain momentum in 2020.

  • Netflix Q4 Earnings Preview: Time for Investors to Worry About NFLX Stock?
    Zacks

    Netflix Q4 Earnings Preview: Time for Investors to Worry About NFLX Stock?

    Netflix is set to report its Q4 fiscal 2019 earnings results after the closing bell on Tuesday, January 21. The streaming TV giant's stock price has climbed over the last several months but Wall Street is worried about Netflix's growing competition...

  • Netflix Is Up To Bat This Q4 Earnings Season
    Zacks

    Netflix Is Up To Bat This Q4 Earnings Season

    Subscriber growth is going to be a crucial metric toNFLX's December quarter report is released

  • Apple Welcomes Julia Louis-Dreyfus to TV+ Streaming Projects
    Zacks

    Apple Welcomes Julia Louis-Dreyfus to TV+ Streaming Projects

    The collaboration with Louis-Dreyfus is likely to provide an impetus to Apple's (AAPL) original content expansion strategy to penetrate the increasingly crowded streaming space.

  • Comcast's Peacock Set for Launch With Free Subscription
    Zacks

    Comcast's Peacock Set for Launch With Free Subscription

    Comcast Corporation (CMCSA) announces multi-tiered pricing strategy for its new Peacock streaming service including ad-based free subscription offering slated for launch in April.

  • Here's what dominated Wikipedia's most-read articles last year
    Yahoo Finance

    Here's what dominated Wikipedia's most-read articles last year

    The online encyclopedia showcases just how powerful Hollywood can be, with nearly all of its top 10 stories connected to the entertainment industry.

  • Why Nvidia (NVDA) Stock is a Strong Buy Ahead of 2020 Chip Growth
    Zacks

    Why Nvidia (NVDA) Stock is a Strong Buy Ahead of 2020 Chip Growth

    Nvidia shares have soared roughly 60% in the last year as part of a broader semiconductor market climb that has come despite an overall sales and earnings downturn. So is now the time to buy NVDA stock?

  • CenturyLink Secures DOI Task Order for Network Modernization
    Zacks

    CenturyLink Secures DOI Task Order for Network Modernization

    CenturyLink (CTL) wins a mini contract from the U.S. Department of the Interior to deliver modern network services for the preservation of nation's natural resources.

  • Big Companies to Mexico’s President: Stop Changing Rules
    Bloomberg

    Big Companies to Mexico’s President: Stop Changing Rules

    (Bloomberg) -- Terms of Trade is a daily newsletter that untangles a world embroiled in trade wars. Sign up here. Representatives of two top business groups warned that it’s getting increasingly harder for foreign companies to put their money in Mexico and said that messages from President Andres Manuel Lopez Obrador’s government that hinder investment need to stop.In a rare critique of the current administration, Carlos Salazar, head of one of the largest Mexican business groups, CCE, said companies need a message of certainty from the Lopez Obrador administration to move away from conflicts.At the same event in Mexico City, Claudia Janez, the head of a group representing global businesses, spoke out even more forcefully against government interference in investment, saying it’s the main cause of economic stagnation in Mexico.Mexico’s gross domestic product remained flat last year in large part because of the “systemic change of rules to doing business and the constant political messages against the markets and companies,” said Janez, president of the Executive Council of Global Companies (CEEG).The economy even dipped into a slight recession in the first half of 2019 after Andres Manuel Lopez Obrador scrapped a $13 billion airport project before becoming president in December, and then suspended private oil auctions once in power. His government staged a months-long dispute with several pipeline operators after it decided to change the terms of natural gas contracts signed with the previous administration.“Companies make long-term investment decisions. Changing rules doesn’t help growth,” said Salazar, who has served as a liaison between the business community and the government.Mexico’s AMLO Still Working to Win Over Private Sector SkepticsIn recent months, Lopez Obrador has been trying to win over private sector skeptics, but hasn’t delivered what they want, which is mainly a return to business-friendly policies such as the oil auctions. Gross fixed investment, which includes spending in factories and machinery, has fallen for nine consecutive months through October, the longest losing streak since the 2009 recession.Janez, who is also president for Latin America at DuPont de Nemours Inc., stressed Mexico needs to be clear on why it deserves investment over other countries and that free trade deals will mean nothing if the country doesn’t address its security issues.She said security has become the number one concern for many companies operating in the country and that some of them are now spending an extra 30% to 40% of their fixed costs to protect themselves. “Insecurity should not be the new normal,” she said.Decisions to allocate money for Mexico became even harder in the second half of 2019, Janez said, an unusual situation considering that the country was expected to become a natural destination for investment amid the China-U.S. trade war. Members of her business group include Exxon Mobil Corp. and AT&T Inc.Salazar said he remains optimistic Mexico can reach growth goals in the future. He cited an infrastructure plan from November as a token of hope.Salazar is helping broker a second investment plan, this time for the energy sector, that could be announced this month or next.(Adds comments from Janez and Salazar starting in 10th paragraph.)To contact the reporters on this story: Cyntia Barrera Diaz in Mexico City at cbarrerad@bloomberg.net;Andrea Navarro in Mexico City at anavarro30@bloomberg.netTo contact the editors responsible for this story: Nacha Cattan at ncattan@bloomberg.net;Ney Hayashi at ncruz4@bloomberg.netFor more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • What to Expect from Netflix's (NFLX) Q4 2019 Earnings Results?
    Zacks

    What to Expect from Netflix's (NFLX) Q4 2019 Earnings Results?

    NFLX is the worst performing FAANG stock over the last 12 months, down 2.5%. Here's what to expect from Netflix's Q4 2019 earnings results...

  • Sprint’s Floundering Stock Cannot Tell a Lie
    Bloomberg

    Sprint’s Floundering Stock Cannot Tell a Lie

    (Bloomberg Opinion) -- Traders who make a living betting on mergers still won’t touch T-Mobile US Inc. and Sprint Corp.’s deal with a 10-foot pole. The wireless carriers may have been able to butter up two federal regulatory authorities by using the wonders of a 5G-powered America to distract from their deal’s likely competitive harm. Even so, merger-arbitrage traders live in a world of mathematical probabilities informed by laws and legal precedents, and on that basis, it’s hard to imagine that the judge presiding over a case brought by a group of state attorneys general opposing the deal will rule in the companies’ favor. Lawyers for both sides each delivered closing arguments Wednesday, with a decision from U.S. District Judge Victor Marrero expected to come some time in February. Analysts largely view the odds as a toss-up, if not slightly tipped in T-Mobile and Sprint’s favor. But the equity market paints a meaningfully different picture: The per-share value of T-Mobile's offer is 67% higher than where Sprint's shares are trading, by far the biggest spread of any pending U.S. deal. The wide gap implies that traders see an extremely low likelihood that the transaction gets done, and Sprint options activity is sending the same signal.Of course, this also means that if the companies do win in court, some traders popping antacids right now stand to make a substantial return. But for the most part, arbitrageurs have chosen to stay away. “This is one of those seminal situations in merger arb history,” said Roy Behren, a portfolio manager for the Merger Fund at Westchester Capital Management, which oversees $4 billion of assets. He found T-Mobile and Sprint’s arguments persuasive — that together the companies will be able to build out a nationwide 5G service faster, and that Sprint doesn't have the capital or scale it needs to compete. But the potential downside is painfully large, and so it’s simply too hard to make a bet on what will happen. “We like the case, but that doesn’t mean we want to risk shareholders’ money on something where we don’t have a huge conviction,” Behren said in a phone interview. The case may come down to Dish Network Corp. and its assigned role in ensuring the U.S. wireless market remains competitive. Makan Delrahim, the head antitrust enforcer at the Department of Justice, is placing incredible faith in Dish that it can fill the hole Sprint leaves behind and become a formidable new competitor to T-Mobile, AT&T Inc. and Verizon Communications Inc., even though it will most likely take years for Dish to live up to those expectations.T-Mobile has relied heavily on the argument that its brand as the customer-first “Un-carrier” means it can be trusted not to raise prices in the meantime, Blair Levin, an analyst for New Street Research, wrote in a report this week. The idea is that with Sprint, it will be able to spread out its network costs across a larger subscriber base and thus keep plan rates low. But as the state attorneys general have noted, AT&T and Verizon have greater scale and higher prices. Judges look at facts and precedent. Just as there was a compelling case to make against AT&T acquiring Time Warner last year in what amounted to a massive vertical consolidation of market power, it was hard to articulate this with facts and not just speculation about what might happen, because of the lack of precedent. The judge in that matter said early on, “I guess I have to get a crystal ball,” which judges do not like to do, and sure enough, he opted to stick with the facts as they were. The Justice Department and Federal Communications Commission have already given their blessing, which carries weight and could mean Judge Marrero will, too. But then if they could look in a crystal ball and see the consequence of doing so, they may not like what they see. Even the stock market knows that the deal shouldn’t go through.To contact the author of this story: Tara Lachapelle at tlachapelle@bloomberg.netTo contact the editor responsible for this story: Beth Williams at bewilliams@bloomberg.netThis column does not necessarily reflect the opinion of Bloomberg LP and its owners.Tara Lachapelle is a Bloomberg Opinion columnist covering the business of entertainment and telecommunications, as well as broader deals. She previously wrote an M&A column for Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinionSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.

  • The Race To 5G: $1 Billion Subsidy Could Propel  5G Stocks
    Zacks

    The Race To 5G: $1 Billion Subsidy Could Propel 5G Stocks

    The race to integrated 5G networks and devices that leverage this technology is underway, and China has the lead???. for now

  • AT&T to Deploy 5G, FirstNet Services at Nellis Air Force Base
    Zacks

    AT&T to Deploy 5G, FirstNet Services at Nellis Air Force Base

    AT&T (T) intends to provide Nellis with 5G infrastructure to facilitate voice and data services for more than 40,000 Air Force personnel, family members and retirees.

  • 7 Dividend ETFs That Offer Growth in 2020
    Zacks

    7 Dividend ETFs That Offer Growth in 2020

    In a low interest rate environment, dividend investing has been the hot spot and seems an excellent choice for 2020.

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