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MarketScreener Homepage  >  Equities  >  Nyse  >  AT&T    T

AT&T

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AT&T : Settles With FTC for Allegedly Misleading Customers on Unlimited Plans' Data Speeds

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11/05/2019 | 12:19pm EST

By Dave Sebastian

AT&T Inc. (T) agreed to pay $60 million to settle the Federal Trade Commission's allegations that the wireless provider reduced customers' data speeds while charging them for unlimited data plans.

The commission had filed a complaint in 2014 accusing the company of not adequately disclosing to the customers with the data plan that it would reduce data speeds after reaching a certain amount of data use during a billing cycle.

The settlement will be deposited into a fund that AT&T will use to partially refund current and former customers who had originally signed up for unlimited plans prior to 2011 but whose data speeds were throttled by AT&T, the FTC said.

AT&T began throttling data speeds in 2011 while promising unlimited data for its customers after they used as little as 2 gigabytes during a billing cycle, affecting more than 3.5 million customers as of October 2014, the FTC said.

As part of the settlement, the FTC prohibits AT&T from marketing its speed or amount of mobile data without including clear caveats on the restrictions to those services.

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Financials (USD)
Sales 2019 182 B
EBIT 2019 30 454 M
Net income 2019 16 514 M
Debt 2019 154 B
Yield 2019 5,38%
P/E ratio 2019 16,9x
P/E ratio 2020 13,2x
EV / Sales2019 2,38x
EV / Sales2020 2,33x
Capitalization 278 B
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 39,67  $
Last Close Price 38,04  $
Spread / Highest target 26,2%
Spread / Average Target 4,28%
Spread / Lowest Target -47,4%
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Managers
NameTitle
Randall L. Stephenson Chairman & Chief Executive Officer
John T. Stankey President & Chief Operating Officer
John J. Stephens Senior EVP, Chief Financial & Accounting Officer
Laura D'Andrea Tyson Independent Director
Matthew K. Rose Lead Independent Director
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