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AT&T Short

by SignalFactory   ·  July 22, 2020 | 09:31:07 UTC  

AT&T Short

by SignalFactory   ·  July 22, 2020 | 09:31:07 UTC  

Wall Street analysts expect AT&T to post sales of $41.04 billion in the second quarter—a reduction of 8.7% YoY (year-over-year) from $44.96 billion. Video customer losses may drag down its top line. Also, analysts expect the telecom company to post an adjusted EPS of $0.79. It had an adjusted EPS of $0.89 in the second quarter of 2019.

In the second quarter, AT&T’s phone and internet businesses saw higher demand as people stayed at home. However, the company is likely to report DIRECTV pay-TV customer losses due to a rise in cord-cutting.

In the second quarter, AT&T’s WarnerMedia segment introduced a new video streaming service, HBO Max. Investors should watch for management’s commentary on subscribers’ initial response.

Analysts expect AT&T’s revenue to fall by 5.8% YoY in 2020 to $170.8 billion and rise by 1.8% YoY in 2021 to $173.9 billion. They foresee its adjusted EPS falling by about 10.9% YoY to $3.18 in 2020, and then rising by 3.5% YoY to $3.29 in 2021.

5G update:

AT&T plans to provide nationwide 5G coverage this summer. Currently, the carrier’s 5G network covers about 179 million people in 335 markets. According to PR Newswire, “In parts of some markets, AT&T has enabled dynamic spectrum sharing (or DSS) technology which allows carriers to share the same channel between both 4G and 5G users simultaneously, based on demand, creating a seamless experience for customers. Through DSS, AT&T can deploy 5G faster and more efficiently to help more customers take advantage of 5G technology, sooner. This technology helps create an intelligent and robust network for customers.”

Analysts’ recommendations for AT&T:

Of the 31 analysts covering AT&T stock, nine recommend “buy,” 19 recommend “hold,” and three recommend “sell.” Their 12-month price target on the stock is $33.08. On July 17, the stock was trading 9.4% below analysts’ price target. The consensus price target for the stock has fallen 1.9% from $33.72 in June. Last week, Oppenheimer reduced its target price for AT&T from $47 to $38.

AT&T Short (Sell)

ENTER AT: 29.87

T.P_1: 28.99

T.P_2: 27.51

S.L: 31.14

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