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MarketScreener Homepage  >  Equities  >  Nyse  >  AT&T    T

AT&T

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AT&T : makes changes in response to activist investor push

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10/28/2019 | 08:59am EST

NEW YORKAT&T will review its portfolio for assets it can sell off, pay down debt related to its Time Warner acquisition and add two board members as part of a plan to boost results.

The moves come after criticism from hedge fund manager Elliott Management. In September the activist disclosed a $3.2 billion investment in AT&T, roughly a 1% stake, and called for changes at the company such as selling assets and paying down debt.

AT&T Inc. also said Monday CEO Randall Stephenson will stay on through 2020. Stephenson called conversations with Elliott Management "constructive."

AT&T is readying a streaming service set to launch in 2020 following its $81 billion purchase of Time Warner as more customers abandon traditional pay TV.

Shares of the Dallas company jumped 5% in morning trading.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

Stocks mentioned in the article
ChangeLast1st jan.
AT&T -0.16% 38.55 Delayed Quote.-1.20%
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Financials (USD)
Sales 2020 182 B
EBIT 2020 31 874 M
Net income 2020 19 375 M
Debt 2020 148 B
Yield 2020 5,41%
P/E ratio 2020 14,1x
P/E ratio 2021 12,8x
EV / Sales2020 2,33x
EV / Sales2021 2,30x
Capitalization 277 B
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Technical analysis trends AT&T
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TrendsNeutralNeutralBullish
Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 32
Average target price 40,07  $
Last Close Price 38,61  $
Spread / Highest target 24,3%
Spread / Average Target 3,79%
Spread / Lowest Target -48,2%
EPS Revisions
Managers
NameTitle
Randall L. Stephenson Chairman & Chief Executive Officer
F. Thaddeus Arroyo CEO-Business Solutions & International
Jennifer van Buskirk Regional President-Northeast
David Christopher President-AT&T Mobility & Entertainment
John T. Stankey President & Chief Operating Officer
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