에 대한 최신 뉴스 AT&T (NYSE:T) 주식

AT&T

The wireless business contributes nearly 70% of AT&T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 15% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm recently agreed to sell its 70% equity stake in satellite television provider DirecTV to its partner, private equity firm TPG.

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수요일 AT&amp;T(NYSE:T)는 2024년 3분기 영업 매출이 302억 1천만 달러로, 전년 대비 0.5% 감소했다고 보고했다. 이는 애널리스트 컨센서스 추정치인 304억 4천만 달러를 소폭 밑도는 수치이다.

AT&amp;T 3분기 실적: 강력한 후불 전화 추가, 조정 EBITDA 증가, 44억 달러의 손상 비용 등

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LUMN

미국 통신사들을 겨냥한 해킹 캠페인이 공개된 지 일주일이 지나도 의회는 그 함의를 평가하고 있다. 중국의 솔트 타이푼(Salt Typhoon) 그룹이 AT&amp;T(NYSE:T), 버라이즌(NYSE:VZ) 및 루멘 테크놀로지스(NYSE:LUMN)에 침투한 것으로 보도되어, 법원에서 승인된 감청과 관련된 민감한 정부 데이터가 노출되었을 가능성에 대한 우려가 제기되고 있다.

美 의원들, 중국 해킹에 대해 AT&amp;T, 버라이즌 및 루멘에게 답변 요구

MSFT

중국 정부와 연관된 사이버 공격으로 인해 주요 미국 광대역 제공업체들이 해킹을 당한 것으로 보이며, 이로 인해 법원 승인에 의한 도청 요청 시스템이 위험에 처할 수 있다.

中 해커들이 AT&amp;T 등의 네트워크를 침해, 주요 도청 데이터를 훔쳐 美 국가 안보에 위협: 보도

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Shares of MasTec Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MTZ#NYSE">MTZ</a>) continued their upward trajectory in early trading on Tuesday, after climbing last week on <a href="https://www.benzinga.com/news/24/11/41688665/amazon-posts-upbeat-results-joins-cardinal-health-waters-atlassian-charter-communications-mastec-and">the company's raised 2024 adjusted earnings guidance</a>.
Despite the recent rally, the stock has more runway. The Coral Gables, Florida-based company's Power Delivery, Clean Energy &amp; Infrastructure (CE&amp;I), and Communications segments are "turning the corner," according to Truist Securities.
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ac4af1b85e930001e6383a/jamie-cook">Analyst Jamie Cook</a> upgraded the rating for MasTec from Hold to Buy, while raising the price target from $133 to $173.
The MasTec Thesis: The company's Power Delivery, CE&amp;I, and Communications segments are poised for revenue growth and margin expansion, Cook said in the upgrade note.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
MasTec is "solidifying its positioning in utility transmission and distribution through the Henkels &amp; McCoy acquisition and in renewables through the IEA acquisition," the analyst stated. 
The company and rival Quanta Services Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PWR#NYSE">PWR</a>) are both "well positioned to lead the market and grow given competitive advantages which include scale, workforce, and balance sheet," he added.
"We expect strong top line growth and margin expansion in 2025 tied to secular growth in renewables, significant funding for communications infrastructure associated with BEAD funding and MTZ's recently expanded relationship with AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), and new major project wins including the $1.5 billion high-voltage transmission project MTZ announced last quarter," Cook wrote. After facing two years of margin pressure, MasTec seems poised for margin expansion in 2025 and "has line of sight to reaching double-digit EBITDA margins over the medium term," he further said.
Price Action: Shares of MasTechad risen by 3.22% to $136.87 at the time of publication on Tuesday.
Read More: <a href="https://www.benzinga.com/news/earnings/24/09/40859294/mastec-stock-rallies-31-in-the-past-6-months-is-mtz-a-buy-right-now">MasTec Stock Rallies 31% in the Past 6 Months: Is MTZ a Buy Right Now?</a>

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Infrastructure Construction Company MasTec Is Poised For Double Digit Margin Expansion, Analyst Says

<a href="https://www.eff.org/deeplinks/2024/10/frightening-stakes-halloweens-net-neutrality-hearing" title="https://www.eff.org/deeplinks/2024/10/frightening-stakes-halloweens-net-neutrality-hearing">https://www.eff.org/deeplinks/2024/10/frightening-stakes-halloweens-net-neutrality-hearing</a>

US Appeals Court Skeptical Of Federal Communications Commission Net Neutrality Rules

AT&T Launches Industry-First Single-Box Solution For Seamless Fiber And 5G Integration, Offering Reliable Connectivity With Automatic Failover For Business Networks

Corning Incorporated (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLW#NYSE">GLW</a>) shares are trading higher premarket on Monday after the company inked a multi-year agreement with AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
The agreement, which is valued over $1 billion, expands AT&amp;T and <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/b41571236/at-t-and-corning-expand-collaboration-with-multi-year-purchase-agreement" rel="noreferrer noopener">Corning&#8217;s decades-long partnership.</a>
The deal entails supplying advanced fiber, cable, and connectivity solutions, supporting AT&amp;T&#8217;s fiber network expansion and efforts to deliver high-speed internet to more Americans.
AT&amp;T will incorporate Corning&#8217;s latest Evolv connectivity solutions, including Evolv FlexNAP with Multifiber Pushlok Technology, designed to comply with the Build America, Buy America requirements of the Broadband Equity, Access, and Deployment (BEAD) program.
John Stankey, CEO of AT&amp;T, said, &#8220;This new multi-year agreement with Corning helps us to connect more households, communities, and businesses with the high-speed, reliable internet they need to thrive in a digital world.&#8221;
Wendell P. Weeks, chairman and CEO, Corning Incorporated stated, &#8220;By extending our longtime relationship with AT&amp;T, we&#8217;re helping bring the transformational benefits of fiber to more people and communities. We share a fundamental belief that the more people you connect, the more value you create. And optical fiber is bringing people together at an unprecedented scale.&#8221;
In September, Corning provided significant updates to its &#8220;Springboard&#8221; plan of adding more than&nbsp;$3 billion in annualized sales and shared its strategy to&nbsp;achieve a 20% <a target="_blank" href="https://www.benzinga.com/markets/equities/24/09/40943719/cornings-springboard-plan-set-to-skyrocket-profits-by-2026-ai-and-price-hikes-drive-growth" rel="noreferrer noopener">operating margin by the end of 2026</a>.
Investors can gain exposure to GLW via&nbsp;ProShares Smart Materials ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TINT#NYSE">TINT</a>) and&nbsp;Professionally Managed Portfolios Otter Creek Focus Strategy ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OCFS#NYSE">OCFS</a>).
Price Action: GLW shares are up 2.25% at $47.29 premarket at the last check Monday.
Image via Shutterstock
Read Next:
<ul>
<li><a href="https://www.benzinga.com/news/earnings/24/10/41485572/at-t-q3-earnings-strong-postpaid-phone-adds-adj-ebitda-growth-4-4b-impairment-charge-and-more" target="_blank" rel="noreferrer noopener">AT&amp;T Q3 Earnings: Strong Postpaid Phone Adds, Adj. EBITDA Growth, $4.4B Impairment Charge And More</a></li>
</ul>

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OCFS

TINT

Corning And AT&T Sign $1 Billion+ Deal To Supercharge Fiber Network

AT&T Announces Multi-Year Purchase Agreement with Corning For 
Fiber, Cable And Connectivity Solutions; Agreement Valued At Over $1B

Rosenblatt analyst Barton Crockett reiterated a Buy rating on Apple Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) with a price target of $261.
Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>), AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) and T-Mobile US, Inc&#8217;s (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) <a href="https://www.benzinga.com/news/earnings/24/10/41450868/verizon-q3-earnings-wireless-subs-boost-with-5g-offers-1-7b-severance-charge-hit-to-profit-reiterat">third-quarter 2024</a> earnings reports revealed a trend of declining smartphone upgrade rates, raising concerns about the anticipated AI-driven super cycle.
AT&amp;T&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41485572/at-t-q3-earnings-strong-postpaid-phone-adds-adj-ebitda-growth-4-4b-impairment-charge-and-more">upgrade rate dropped</a> to 3.5%, down from 3.9% a year ago; Verizon&#8217;s fell to 3.0% from 3.4% and T-Mobile&#8217;s <a href="https://www.benzinga.com/news/earnings/24/10/41501756/t-mobile-reports-strong-q3-results-service-revenues-grew-5-yoy-fcf-grew-29-raised-fy24-guidance">slipped slightly to</a> 2.6% from 2.7%.
These declines came despite overall net postpaid phone subscriber growth that met Verizon and AT&amp;T&#8217;s expectations and exceeded T-Mobile&#8217;s estimates.
Also Read: <a target="_blank" href="https://www.benzinga.com/government/24/10/41518452/taiwan-semiconductor-halts-shipments-after-huawei-link-discovered-us-sanctions-cited" rel="noreferrer noopener">Taiwan Semiconductor Halts Shipments After Huawei Link Discovered, US Sanctions Cited</a>
While this data suggests the expected super cycle in smartphone upgrades has yet to materialize, analysts remain optimistic.
A super cycle had not been modeled for the September quarter and instead a forecast for muted iPhone revenue growth of 3%. Looking ahead, there is an expectation more robust growth of 4% in three of the four quarters in fiscal 2025, with the March 2025 quarter seeing a 7% boost due to the launch of a new iPhone SE.
The super cycle is anticipated to fully materialize in 2026, driven by the iPhone 17 and Apple&#8217;s AI advancements.
Apple is rolling out its Apple Intelligence features in phases, starting Oct. 28 with iOS 18.1, which includes limited AI functionalities.
The iOS 18.2 will follow, introducing ChatGPT integration and advanced capabilities like Visual Intelligence and Genmoji, which will further drive future sales.
Regarding current trends, IDC data shows that Apple smartphone shipments rose 3.5% year over year in the third quarter of 2024, with global smartphone shipments up 4%.
However, U.S. carrier-subsidized phone upgrades declined by around 7% year-over-year, which only partially correlates with global sales.
This trend may be influenced by Apple&#8217;s increasing use of installment plans to finance iPhone purchases, potentially reducing the impact of carrier subsidies. Despite the muted start to the current iPhone cycle, analysts believe the AI ramp will meaningfully accelerate sales within a year, with the stock likely reflecting that momentum ahead of time.
Crockett projected fourth-quarter revenue of $94.83 billion and EPS of $1.62.
AAPL Price Action: Apple stock is down 0.22% at $230.30 at publication Thursday.
Also Read:
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Photo: Andrey Bayda via Shutterstock

Reiteration

AAPL

TMUS

Apple's AI-Powered Future: iPhone Growth Surge By 2026 With New iPhone 17, AI Integration, Analyst Says

T-Mobile US Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>) shares were climbing in early trading on Thursday, after the company announced <a href="https://www.benzinga.com/news/earnings/24/10/41501756/t-mobile-reports-strong-q3-results-service-revenues-grew-5-yoy-fcf-grew-29-raised-fy24-guidance">strong third-quarter results</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<h1 class="wp-block-heading">Oppenheimer On T-Mobile US</h1>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59282ae6290fa7000185325b/timothy-horan">Analyst </a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59282ae6290fa7000185325b/timothy-horan">Timothy Horan</a> maintained an Outperform rating, while lifting the price target from $215 to $250.
T-Mobile US reported revenues of $20.2 billion, up 4.7% and beating expectations by 120 basis points (bps), Horan said. The company generated "industry-leading" service revenue growth of 5.1%, driven by the highest ARPA (postpaid average revenue per account) growth in seven years and higher-than-expected postpaid phone net additions, he added. &nbsp;
The company's postpaid phone net additions of 865,000, which came in 65,000 higher than the estimate, was more than that of Verizon Communications Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) and AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) combined, the analyst stated. The company is on track for around 3 million phone adds this year, he further mentioned.
<h1 class="wp-block-heading">Scotiabank On T-Mobile US</h1>
Analyst Maher Yaghi reiterated a Sector Perform rating while raising the price target from $236 to $237.
"T-Mobile reported another strong quarter with continued industry-leading subscriber growth coupled with stringent focus on operating costs leading to a slight beat on EBITDA which supported another guidance increase," Yaghi wrote in a note.
The company continued to be well positioned to maintain industry-leading growth rates on both phone adds and cash generation "as we still see additional growth potential in suburban, rural and enterprise segments in mobile as well as a path towards additional market share gains in broadband," the analyst stated.
<h1 class="wp-block-heading">KeyBanc Capital Markets On T-Mobile US</h1>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59f8cd40efacff000111b43b/brandon-nispel">Analyst</a><a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59f8cd40efacff000111b43b/brandon-nispel"> Brandon Nispel</a> reaffirmed an Overweight rating while raising the price target from $230 to $252.
T-Mobile US reported total service revenue of $16.73 billion, up 5.1% year-on-year, beating consensus of 4.7% growth, Nispel said. The company's adjusted EBITDA of $8.22 billion came in higher than consensus of $8.12 billion, he added.
Postpaid phone net adds of 865,000 topped consensus of 749,000, driven by better-than-expected churn, the analyst stated. "We think one of the most impressive achievements is TMUS driving accelerating postpaid phone subscriber growth in the last two quarters, while also raising pricing driving ARPU/ARPA higher," he further wrote.
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
<h1 class="wp-block-heading">Goldman Sachs On T-Mobile US</h1>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5805f8a2846faa000106ab15/james-schneider">Analyst James Schneider</a> maintained a Buy rating while lifting the price target of $220 to $250.
Postpaid phone net adds came in higher than Street expectations, while fixed wireless access net adds of 415,000 also beat consensus of 405,000, Schneider said. Postpaid phone churn came in at 0.86% versus consensus of 0.90%, he added.
T-Mobile US raised its full-year guidance for postpaid net customer adds to 5.6-5.8 million, from its prior projection of 5.4-5.7 million, while its postpaid phone net add guidance stands at 3 million, the analyst stated. The company also raised its core adjusted EBITDA guidance to $31.6-$31.8 billion, from $31.5-$31.8 billion. "T-Mobile's guidance implies room for upside," he further wrote.
<h1 class="wp-block-heading">Benchmark On T-Mobile US</h1>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58ca96e4b85e930001f446dd/matthew-harrigan">Analyst Matthew Harrigan</a> reiterated an Equal-Weight rating while raising the price target from $250 to $255.
The company's core EBITDA grew by "a very strong" 8.9% to $8.222 billion, Harrigan said. "Postpaid net customer additions testified to the appeal of T-Mobile's real and perceived 5G leadership with a 1.575M advance, including best-in-a-decade postpaid phone additions of 865K," he added.
The ARPA change "suggests management's guidance is quite credible with possible actual upside if T-Mobile continues to gain momentum among affluent urban market seeking the superior 5G network," the analyst stated.
<h1 class="wp-block-heading">RBC Capital Markets On T-Mobile US</h1>
<a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846ee55ee7bf6000154d12b/jonathan-atkin">Analyst Jonathan Atkin</a> reaffirmed an Outperform rating and price target of $232.
The company's free cash flows were 11% above consensus, "driven by higher profit and timing of working capital," Atkin said.
"The company has continued its momentum in gaining share across different markets and consumer cohorts," the analyst stated. Management raised its full-year guidance for postpaid net additions by 150,000 at the midpoint and core adjusted EBITDA by $50 million at the midpoint, he added.
TMUS Price Action: Shares of T-Mobile US had risen by 4.96% to $231.99 at the time of publication on Thursday.
Read More: • <a href="https://www.benzinga.com/markets/equities/24/10/41454606/t-mobile-sparks-autonomous-vehicle-revolution-5g-network-fuels-jacksonvilles-futuristic-shuttle-">T-Mobile Sparks Autonomous Vehicle Revolution: 5G Network Fuels Jacksonville&#8217;s Futuristic Shuttle System</a>
Photo: Viewimage on Shutterstock

Earnings Beats

T-Mobile's Customer Growth Outpaces Verizon, AT&T Combined: Analysts Raise Forecasts

Shares of AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) came under pressure in early trading on Thursday, after it reported <a href="https://www.benzinga.com/news/earnings/24/10/41485572/at-t-q3-earnings-strong-postpaid-phone-adds-adj-ebitda-growth-4-4b-impairment-charge-and-more">third-quarter results</a>.
The company reported its results amid an <a href="https://www.benzinga.com/earnings">exciting earnings season</a>. Here are some key analyst takeaways.
<ul>
<li>Oppenheimer <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/59282ae6290fa7000185325b/timothy-horan">analyst Timothy Horan</a> maintained an Outperform rating, while lifting the price target from $23 to $24.</li>
<li>Scotiabank analyst Maher Yaghi reiterated an Outperform rating and price target of $24.</li>
<li>RBC Capital Markets <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/5846ee55ee7bf6000154d12b/jonathan-atkin">analyst Jonathan Atkin</a> reaffirmed a Sector Perform rating and price target of $22.</li>
<li>Morgan Stanley <a href="https://www.benzinga.com/analyst-stock-ratings/analyst/58b579d9b85e930001267b2a/simon-flannery">analyst Simon Flannery</a> maintained an Equal-Weight rating and price target of $19.</li>
</ul>
Check out <a href="https://www.benzinga.com/analyst-stock-ratings">other analyst stock ratings</a>.
Oppenheimer: AT&amp;T's service revenues grew by 4.0% year-on-year, which accelerated versus the first half of this year, driven mostly by ARPU (average revenue per user) growth and a one-time item, Horan said in a note. The company's EBITDA (earnings before interest, taxes, depreciation, and amortization) grew 3.4% with margins up 140 basis points (bps) to 38.3%, he added.
"We think T, and the entire wireless industry, would be major beneficiaries of a Republican administration given an expectation of lower taxes and less red tape inhibiting distribution of broadband subsidies," the analyst wrote. AT&amp;T seems to be on track to meeting its 2024 guidance, "benefiting from oligopolistic competition and major network investments," he further stated.
Scotiabank: AT&amp;T reported postpaid phone net additions of 403,000, which fell short of the 468,000 reported last year, Yaghi said. Despite this, an improvement in postpaid phone churn and ARPU growth of 1.9% resulted in wireless service revenues growing 4%, he added.
"As we look ahead to 2025, we expect normalization of industry volumes to continue, with net adds on an annual basis slightly lower vs. F24," the analyst wrote. He stated, however, that ARPU could grow next year, driven by "pricing actions, the uptake of higher priced plans, and value expansion of convergence."
RBC Capital Markets: AT&amp;T's consolidated revenues declined 0.5% year-on-year to $30.2 billion. It missed the consensus of $30.4 billion, "with the shortfall attributable to lower wireless equipment revenues and business wireline," Atkin said. Consolidated adjusted EBITDA grew by 1.8% year-on-year to $11.6 billion, beating consensus of $11.4 billion, he added.
Adjusted earnings came in at 60 cents per share, topping market expectations of 57 cents per share, the analyst stated. "Management maintained guidance, with minimal impacts from weather and labor related factors," he further wrote.
Morgan Stanley: AT&amp;T reported its third-quarter results broadly in-line with expectations, Flannery said. He added, however, that the business wireline segment continued to "be a drag," with revenues declining by 11.8% year-on-year.
The company reiterated its full-year guidance. It now expects "business wireline EBITDA to decline in the high teens this year from mid-teens previously," the analyst wrote. "Management noted relatively low phone upgrade rates and rational promotional environment," he further wrote.
T Price Action: Shares of AT&amp;T had declined by 1.58% to $22.14 at the time of publication on Thursday.
Read More: 
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41498854/verizons-5g-expansion-and-fiber-goals-boost-long-term-outlook-analysts-cautiously-o">Verizon&#8217;s 5G Expansion And Fiber Goals Boost Long-Term Outlook, Analysts Cautiously Optimistic</a></li>
</ul>
Image: Shutterstock

AT&T Posts Mixed Q3, These Analysts Expect Pricing To Improve

RBC Capital analyst Jonathan Atkin reiterates AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Sector Perform and maintains $22 price target.

RBC Capital Reiterates Sector Perform on AT&T, Maintains $22 Price Target

Evercore ISI Group analyst Vijay Jayant maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a In-Line and raises the price target from $19 to $21.

Evercore ISI Group Maintains In-Line on AT&T, Raises Price Target to $21

Ratings for AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) were provided by 7 analysts in the past three months, showcasing a mix of bullish and bearish perspectives.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">4</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts' evaluations of 12-month price targets offer additional insights, showcasing an average target of $24.14, with a high estimate of $30.00 and a low estimate of $18.00. This upward trend is apparent, with the current average reflecting a 6.3% increase from the previous average price target of $22.71.
<img src="https://www.benzinga.com/files/images/story/2024/1729782053_0.png" alt="price target chart" />
<h2>Decoding Analyst Ratings: A Detailed Look</h2>
The analysis of recent analyst actions sheds light on the perception of AT&amp;T by financial experts. The following summary presents key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Timothy Horan</td>
<td>Oppenheimer</td>
<td>Raises</td>
<td>Outperform</td>
<td>$24.00</td>
<td>$23.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$24.00</td>
<td>$25.00</td>
</tr>
<tr>
<td>Kannan Venkateshwar</td>
<td>Barclays</td>
<td>Raises</td>
<td>Overweight</td>
<td>$24.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Raises</td>
<td>Overweight</td>
<td>$25.00</td>
<td>$22.00</td>
</tr>
<tr>
<td>Ivan Feinseth</td>
<td>Tigress Financial</td>
<td>Raises</td>
<td>Buy</td>
<td>$30.00</td>
<td>$29.00</td>
</tr>
<tr>
<td>Michael Rollins</td>
<td>Citigroup</td>
<td>Raises</td>
<td>Buy</td>
<td>$24.00</td>
<td>$21.00</td>
</tr>
<tr>
<td>Craig Moffett</td>
<td>MoffettNathanson</td>
<td>Raises</td>
<td>Neutral</td>
<td>$18.00</td>
<td>$17.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Analysts respond to changes in market conditions and company performance, frequently updating their recommendations. Whether they 'Maintain', 'Raise' or 'Lower' their stance, it reflects their reaction to recent developments related to AT&amp;T. This information offers a snapshot of how analysts perceive the current state of the company.</li>
<li>Rating: Unveiling insights, analysts deliver qualitative insights into stock performance, from 'Outperform' to 'Underperform'. These ratings convey expectations for the relative performance of AT&amp;T compared to the broader market.</li>
<li>Price Targets: Delving into movements, analysts provide estimates for the future value of AT&amp;T's stock. This analysis reveals shifts in analysts' expectations over time.</li>
</ul>
Analyzing these analyst evaluations alongside relevant financial metrics can provide a comprehensive view of AT&amp;T's market position. Stay informed and make data-driven decisions with the assistance of our Ratings Table.
<a href="https://www.benzinga.com/quote/T/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on AT&amp;T analyst ratings.</a>
<h2>Delving into AT&amp;T's Background</h2>
The wireless business contributes nearly 70% of AT&amp;T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&amp;T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
<h3>Financial Insights: AT&amp;T</h3>
Market Capitalization: Positioned above industry average, the company's market capitalization underscores its superiority in size, indicative of a strong market presence.
Revenue Challenges: AT&amp;T's revenue growth over 3 months faced difficulties. As of 30 June, 2024, the company experienced a decline of approximately -0.4%. This indicates a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Communication Services sector.
Net Margin: The company's net margin is a standout performer, exceeding industry averages. With an impressive net margin of 11.9%, the company showcases strong profitability and effective cost control.
Return on Equity (ROE): AT&amp;T's ROE stands out, surpassing industry averages. With an impressive ROE of 3.38%, the company demonstrates effective use of equity capital and strong financial performance.
Return on Assets (ROA): AT&amp;T's ROA lags behind industry averages, suggesting challenges in maximizing returns from its assets. With an ROA of 0.89%, the company may face hurdles in achieving optimal financial performance.
Debt Management: AT&amp;T's debt-to-equity ratio is notably higher than the industry average. With a ratio of 1.4, the company relies more heavily on borrowed funds, indicating a higher level of financial risk.
<h2>The Core of Analyst Ratings: What Every Investor Should Know</h2>
Benzinga tracks 150 analyst firms and reports on their stock expectations. Analysts typically arrive at their conclusions by predicting how much money a company will make in the future, usually the upcoming five years, and how risky or predictable that company's revenue streams are.
Analysts attend company conference calls and meetings, research company financial statements, and communicate with insiders to publish their ratings on stocks. Analysts typically rate each stock once per quarter or whenever the company has a major update.
Analysts may supplement their ratings with predictions for metrics like growth estimates, earnings, and revenue, offering investors a more comprehensive outlook. However, investors should be mindful that analysts, like any human, can have subjective perspectives influencing their forecasts.
Breaking: Wall Street's Next Big Mover
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

Deep Dive Into AT&T Stock: Analyst Perspectives (7 Ratings)

Investors with a lot of money to spend have taken a bullish stance on AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>).
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with T, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for AT&amp;T.
This isn't normal.
The overall sentiment of these big-money traders is split between 50% bullish and 37%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $35,000, and 7, calls, for a total amount of $380,816.
<h3>What's The Price Target?</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $15.0 and $22.5 for AT&amp;T, spanning the last three months.
<h3>Volume &amp; Open Interest Trends</h3>
In terms of liquidity and interest, the mean open interest for AT&amp;T options trades today is 10856.83 with a total volume of 3,146.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for AT&amp;T's big money trades within a strike price range of $15.0 to $22.5 over the last 30 days.
<h3>AT&amp;T Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1729780238_0.png" alt="Options Call Chart" />
<h3>Largest Options Trades Observed:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>T</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$3.05</td>
<td>$2.77</td>
<td>$3.05</td>
<td>$20.00</td>
<td>$103.7K</td>
<td>16.4K</td>
<td>522</td>
</tr>
<tr>
<td>T</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$7.75</td>
<td>$7.1</td>
<td>$7.55</td>
<td>$15.00</td>
<td>$75.5K</td>
<td>9.5K</td>
<td>100</td>
</tr>
<tr>
<td>T</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$1.79</td>
<td>$1.6</td>
<td>$1.79</td>
<td>$22.00</td>
<td>$67.3K</td>
<td>20.5K</td>
<td>568</td>
</tr>
<tr>
<td>T</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>06/20/25</td>
<td>$7.5</td>
<td>$7.45</td>
<td>$7.45</td>
<td>$15.00</td>
<td>$44.7K</td>
<td>9.5K</td>
<td>165</td>
</tr>
<tr>
<td>T</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>11/08/24</td>
<td>$0.35</td>
<td>$0.31</td>
<td>$0.35</td>
<td>$22.00</td>
<td>$35.0K</td>
<td>267</td>
<td>1.0K</td>
</tr>
</tbody>
</table>

<h3>About AT&amp;T</h3>
The wireless business contributes nearly 70% of AT&amp;T's revenue. The firm is the third-largest US wireless carrier, connecting 72 million postpaid and 17 million prepaid phone customers. Fixed-line enterprise services, which account for about 16% of revenue, include internet access, private networking, security, voice, and wholesale network capacity. Residential fixed-line services, about 11% of revenue, primarily consist of broadband internet access, serving 14 million customers. AT&amp;T also has a sizable presence in Mexico, with 23 million customers, but this business only accounts for 4% of revenue. The firm still holds a 70% equity stake in satellite television provider DirecTV but does not consolidate this business in its financial statements.
Following our analysis of the options activities associated with AT&amp;T, we pivot to a closer look at the company's own performance.
<h3>AT&amp;T's Current Market Status</h3>
<ul>
<li>Trading volume stands at 5,305,403, with T's price down by -1.35%, positioned at $22.19.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 90 days.</li>
</ul>
<h3>What Analysts Are Saying About AT&amp;T</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $25.4.
Unusual Options Activity Detected: Smart Money on the Move
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&#x2A; Maintaining their stance, an analyst from Tigress Financial continues to hold a Buy rating for AT&amp;T, targeting a price of $30. 
&#x2A; Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for AT&amp;T, targeting a price of $24. 
&#x2A; Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on AT&amp;T with a target price of $24. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on AT&amp;T, maintaining a target price of $25. 
&#x2A; An analyst from Wells Fargo persists with their Overweight rating on AT&amp;T, maintaining a target price of $24. 
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest AT&amp;T options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

Markets

AT&T's Options: A Look at What the Big Money is Thinking

Oppenheimer analyst Timothy Horan maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Outperform and raises the price target from $23 to $24.

Oppenheimer Maintains Outperform on AT&T, Raises Price Target to $24

Wells Fargo analyst Eric Luebchow maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Overweight and lowers the price target from $25 to $24.

Wells Fargo Maintains Overweight on AT&T, Lowers Price Target to $24

Barclays analyst Kannan Venkateshwar maintains AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) with a Overweight and raises the price target from $22 to $24.

Barclays Maintains Overweight on AT&T, Raises Price Target to $24

Investors could see some respite on Wall Street as the index futures point to a positive start on Thursday after three straight days of losses. EV giant Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>) blew <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41509528/tesla-bull-gary-black-praises-ev-giants-clean-beat-in-q3-as-auto-margins-blow-past-">past expectations in terms of margins</a> and earnings per share (EPS), although it missed revenue expectations.
Dow Jones experienced its worst session in over a month, while megacap stocks like Nvidia Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) and Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) fell by over 2%. Amid this, Nvidia supplier SK Hynix <a href="https://www.benzinga.com/markets/equities/24/10/41509305/nvidia-supplier-sk-hynix-reports-record-breaking-quarterly-profit-as-ai-demand-drives-7-revenue-">reported a record quarterly profit </a>on the back of a boom in artificial intelligence.
Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) reported a loss in its third quarter, while AT&amp;T (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) posted better-than-expected earnings.
Tesla will be among the stocks in focus today. Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>), United Parcel Service Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/UPS#NASDAQ">UPS</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), Northrop Grumman Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOC#NYSE">NOC</a>), and Southwest Airlines Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LUV#NYSE">LUV</a>) are scheduled to announce their earnings today.
Investors will also keep a close eye on Boeing <a href="https://www.benzinga.com/markets/equities/24/10/41507795/boeing-machinists-reject-35-wage-hike-deal-extending-5-week-strike-amid-6b-loss-and-cash-burn-wa">after its machinists rejected a 35% wage hike deal</a> and extended their ongoing strike against the company. Workers were dissatisfied with the pension plan and wanted a bigger hike to deal with a rise in the cost of living.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Futures</td>
<td>Performance (+/-)</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>0.75%</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>0.40%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.11%</td>
</tr>
<tr>
<td>R2K</td>
<td>0.43%</td>
</tr>
</tbody>
</table>
</figure>
In premarket trading on Thursday, the SPDR S&amp;P 500 ETF Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) rose 0.42% to $580.42 and the Invesco QQQ ETF (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) surged 0.77% to $492.14, according to <a href="https://benzinga.grsm.io/lxquj26b2sag">Benzinga Pro data</a>.
Cues From Last Session:
Along with the Dow, the Nasdaq Composite recorded its third straight session in the red, dragged down by tech stocks.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, information technology, and communication services stocks recording the biggest losses on Wednesday. However, real estate and utilities stocks bucked the overall market trend, closing the session higher.
Rising treasury yields and the possible outcome of the Nov. 5 presidential election results played on the minds of investors.
<figure class="wp-block-table"> 
<table>
<tbody>
<tr>
<td>Index</td>
<td>Performance (+/-)</td>
<td>Value</td>
</tr>
<tr>
<td>Nasdaq Composite</td>
<td>-1.60%</td>
<td>18,276.65</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>-0.92%</td>
<td>5,797.42</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>-0.96%</td>
<td>42,514.95</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>-0.79%</td>
<td>2,213.84</td>
</tr>
</tbody>
</table>
</figure>
Insights From Analysts:
Following six consecutive weeks of gains, the markets have remained gloomy this week, with tech stocks offering some respite amid sideways movements in most other sectors.
Benchmark US 10-year treasury yields remain in focus, which rose to their highest mark since July.
On the economic data front, U.S. existing home sales declined 1% from the previous month to an annualized rate of 3.84 million in September.
The International Monetary Fund, though, <a href="https://www.imf.org/en/Publications/WEO/Issues/2024/10/22/world-economic-outlook-october-2024">expects</a> U.S. growth to remain strong. According to its latest World Economic Outlook report, the IMF revised its projected U.S. GDP growth rate to 2.8%, up from its previous projection of 2.6%.
"On the equity front, corporate earnings are strong and with the VIX (the CBOE&#8217;s volatility index) still elevated around 20, this is not the backdrop for the start of a bear market," explained WisdomTree and Wharton School economist Jeremy Siegel.
"The current under-loved bull market could see significant upside. While I&#8217;m not predicting a &#8216;melt-up,&#8217; it is important to acknowledge the market&#8217;s upward momentum could continue as fundamentals remain supportive,&#8221; Siegel added.
See Also: <a href="https://www.benzinga.com/money/best-futures-trading-software">Best Futures Trading Software</a>
Upcoming Economic Data:
<ul>
<li>Data on initial jobless claims is scheduled to be released at 8:30 a.m. ET.</li>
<li>Cleveland Fed President Beth Hammack&nbsp;is scheduled to speak at 8:45 a.m. ET.</li>
<li>New home sales data is scheduled to be released at 10 a.m. ET.</li>
</ul>
Stocks In Focus:
<ul>
<li>Tesla will<a href="https://www.benzinga.com/markets/equities/24/10/41510859/tesla-soars-in-thursday-pre-market-heres-whats-driving-the-surge"> stay in focus </a>after beating margin and EPS estimates in its third-quarter earnings.</li>
<li>IBM (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>) missed third-quarter revenue estimates on account of a drag in consulting revenue.</li>
<li>AT&amp;T added over 403,000 new monthly subscribers in the third quarter, reporting $30.2 billion in revenue.</li>
</ul>
Commodities, Bonds And Global Equity Markets:
Crude oil futures rose in the early New York session, surging over 1.5% as data showed a rise in spot demand.
The 10-year Treasury note yield fell marginally to 4.192%.
Asian markets were mixed on Thursday, with Chinese markets edging lower while Japan's Nikkei 225 rose.
European stocks moved past tentativeness in early trading, surging after a gloomy week so far.
Read Next:
<ul>
<li><a href="https://www.benzinga.com/markets/cryptocurrency/24/10/41507397/bitcoin-ethereum-dogecoin-sink-amid-stocks-decline-treasury-yields-climb-analyst-sees-prom">Bitcoin, Ethereum, Dogecoin Sink Amid Stocks Decline, Treasury Yields Climb: Analyst Sees &#8216;Promising Signs&#8217;</a></li>
</ul>
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Futures

Previews

Economics

Federal Reserve

Pre-Market Outlook

NVDA

TSLA

US Stocks Set To Open Higher As Tesla's Strong Profit Margins Win Over Wall Street: Wharton Economist Says 'Under-Loved' Bull Market Could See 'Significant Upside'

The CNN Money Fear and Greed index showed a decline in the overall market sentiment, while the index remained in the &#8220;Greed&#8221; zone on Wednesday.
U.S. stocks settled lower on Wednesday, with the Dow Jones index recording its worst session in over a month. Both the Dow and S&amp;P 500 logged losses for the third straight session.
Megacap stocks moved lower on Wednesday, with Apple Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAPL#NASDAQ">AAPL</a>) and NVIDIA Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NVDA#NASDAQ">NVDA</a>) losing more than 2% during the session.
McDonald&#8217;s Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/MCD#NYSE">MCD</a>) shares fell more than 5% on Wednesday following CDC reports of an E. coli outbreak linked to quarter pounders. AT&amp;T Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) reported better-than-expected earnings for the third quarter. Boeing Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) reported a loss for the third quarter on Wednesday.
On the economic data front, U.S. existing home sales declined 1% from the previous month to an annualized rate of 3.84 million in September.
Most sectors on the S&amp;P 500 closed on a negative note, with consumer discretionary, information technology, and communication services stocks recording the biggest losses on Wednesday. However, real estate and utilities stocks bucked the overall market trend, closing the session higher.
The Dow Jones closed lower by around 410 points to 42,514.95 on Wednesday. The S&amp;P 500 fell 0.92% to 5,797.42, while the Nasdaq Composite dipped 1.60% to close at 18,276.65 during Wednesday's session.
Investors are awaiting earnings results from Dow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOW#NYSE">DOW</a>), Honeywell International Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HON#NASDAQ">HON</a>), and American Airlines Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AAL#NASDAQ">AAL</a>) today.
What is CNN Business Fear &amp; Greed Index?
At a current reading of 63.1, the index remained in the &#8220;Greed&#8221; zone on Wednesday, versus a prior reading of 67.9.
The Fear &amp; Greed Index is a measure of the current market sentiment. It is based on the premise that higher fear exerts pressure on stock prices, while higher greed has the opposite effect. The index is calculated based on seven equal-weighted indicators. The index ranges from 0 to 100, where 0 represents maximum fear and 100 signals maximum greediness.
Read Next:
<ul>
<li> <a href="https://www.benzinga.com/news/24/10/41488681/wall-streets-most-accurate-analysts-give-their-take-on-3-tech-stocks-delivering-high-dividend-yields">Wall Street&#8217;s Most Accurate Analysts Give Their Take On 3 Tech Stocks Delivering High-Dividend Yields</a></li>
</ul>
Photo courtesy: Shutterstock

Dow Records Worst Session In Over A Month, Apple, Nvidia Drag Nasdaq Down: Fear Index Remains In 'Greed' Zone

Verizon Communications Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VZ#NYSE">VZ</a>) stock rebounded Wednesday after a selloff following the <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41450868/verizon-q3-earnings-wireless-subs-boost-with-5g-offers-1-7b-severance-charge-hit-to-profit-reiterat" rel="noreferrer noopener">third-quarter print</a> Tuesday, also getting a boost from AT&amp;T Inc&#8217;s (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>) quarterly print.
The sales growth was flat year-over-year, reaching $33.33 billion, marginally missing the&nbsp;analyst estimate of $33.43 billion. Declines in wireless equipment revenue offset the company&#8217;s Service and other revenue growth.
Also Read: <a target="_blank" href="https://www.benzinga.com/news/earnings/24/10/41485572/at-t-q3-earnings-strong-postpaid-phone-adds-adj-ebitda-growth-4-4b-impairment-charge-and-more" rel="noreferrer noopener">AT&amp;T Q3 Earnings: Strong Postpaid Phone Adds, Adj. EBITDA Growth, $4.4B Impairment Charge And More</a>
Analysts rerated Verizon after its quarterly print. BofA Securities analyst David W. Barden maintained a Neutral rating with a price target of $45.
RBC Capital analyst Jonathan Atkin maintained a Sector Perform with a price target of $46. Scotiabank analyst Maher Yaghi reiterated a Sector Perform rating with a price target of $47.00, down from $47.25.
BofA Securities: Verizon&#8217;s solid third-quarter results position the company to meet or exceed the midpoint of its service revenue and adjusted EBITDA growth guidance, although shares have declined, Barden noted.
According to the analyst, investors are likely reacting to Verizon&#8217;s 2025 capital expenditure guidance of $17.5 billion-$18.5 billion, which suggests potential free cash flow challenges. He said that the company discussed priorities such as fixed wireless access (FWA), fiber to the home (FTTH), convergence, and capital allocation at a recent event.
Verizon raised its FWA subscriber target to 8-9 million by 2028, driven by C-band deployment in suburban and rural areas and the use of mmWave spectrum to target multi-tenant dwellings.
Verizon aims to pass 30 million homes with fiber by 2028, including Frontier&#8217;s current passings, and eventually grow this to 35-40 million. The company highlighted that consumer-led convergence can drive revenue and margins through reduced churn and cross-selling opportunities.
Verizon outlined capital allocation priorities, focusing on investing in the business, growing the dividend, and improving the balance sheet. It also increased its leverage target to 2-2.25 times and will consider buybacks at or below this level.
Barden noted that Verizon has leveraged its premium network to build a premium-value subscriber base. According to the analyst, Verizon&#8217;s long-term strategy is to use its network as a service model as the foundation for the emerging 5G economy. In the near term, it faces competitive pressure that will likely increase promotional spending and impact margins as it awaits the 5G economy to take off.
RBC Capital: Verizon&#8217;s third-quarter revenue reached $33.3 billion, flat Y/Y and slightly below expectations due to weaker wireless equipment sales caused by fewer handset upgrades. Adjusted EBITDA rose 2.1% Y/Y to $12.5 billion, surpassing estimates by 0.6%, while adjusted EPS of $1.19 came in slightly ahead, beating by $0.01.
Free cash flow was $6.0 billion, exceeding expectations due to the timing of capital expenditures, while operating cash flow was impacted by cash taxes and non-recurring charges. Capital expenditures for the quarter were $3.9 billion, lower than anticipated.
The rerating reflects Verizon&#8217;s network position and concrete dividend yield, offset by potentially increasing competitive intensity in the wireless business. Atkin noted that the company&#8217;s underlying wireless subscriber momentum and service revenue trajectory are enhancing and should benefit further from differentiated promotions.
The potential for expanded promotional activity as carriers and cable Mobile Virtual Network Operators (MVNOs) compete for share in a saturated market and the concomitant impact on wireless margins, along with the company&#8217;s reliance on wireless service revenue growth through price increases, keeping him on the sidelines.
Scotiabank: Verizon&#8217;s third-quarter results aligned with Yaghi&#8217;s expectations and the consensus. Total revenue reached $33.3 billion, flat Y/Y, compared to the analyst&#8217;s estimate of $33.6 billion and the consensus of $33.4 billion.
Lower handset upgrades pressured wireless equipment revenues and offset wireless service revenue growth. Adjusted EBITDA came in at $12.5 billion, in line with his and consensus estimates of $12.4 billion. Growth was supported by wireless gains and lower handset upgrade rates, as the new iPhone has yet to spark a noticeable increase in upgrades. 
While consumer postpaid phone net adds turned positive at +81K (~60K from second lines), management must show sustained recovery over the next few quarters, especially without the boost from second lines seen in the second and third quarter. The increase in fiscal 2025 capex guidance by $750 million came as a surprise, indicating that free cash flow (FCF), while healthy, may not see growth next year.
Yaghi noted Verizon&#8217;s past investments provide the company with avenues to improve growth, including its 5G services, C-band acquisition and deployment, TracFone acquisition, wholesale MVNO access, etc. The analyst noted Verizon&#8217;s nationwide broadband coverage is still in the early innings. FTTH coverage is extensive enough to offset non-Fios losses to cable, as per the analyst.
However, the integration of TracFone is causing leakage on the prepaid side for a few more quarters and, combined with a weaker positioning in consumer postpaid offerings (due to the company&#8217;s decision not to join the fray to subsidize handsets heavily), is forcing pressure on its revenue outlook, Yaghi added.
Price action: VZ stock is up 2.66% at $42.61 at the last check on Wednesday.
Photo: JHVEPhoto/Shutterstock.com
Also Read:
<ul>
<li><a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/10/41463314/verizons-positive-pricing-strategy-supports-future-growth-broadband-growth-to-rely-" target="_blank" rel="noreferrer noopener">Verizon&#8217;s Positive Pricing Strategy Supports Future Growth, Broadband Growth to Rely on Fiber and Fixed Wireless: Analyst</a></li>
</ul>

Verizon's 5G Expansion And Fiber Goals Boost Long-Term Outlook, Analysts Cautiously Optimistic

Wall Street is on track for its third consecutive day of losses as investors grow cautious about risky assets, awaiting more clarity on U.S. fiscal and monetary policies and scrutinizing the latest <a href="https://www.benzinga.com/earnings">batch of corporate earnings.</a>
Both equities and commodities took a hit on Wednesday, while the U.S. dollar gained strength, attracting investor flows as traders moved to safer cash positions.
The U.S. dollar index, as tracked by the the&nbsp;Invesco DB USD Index Bullish Fund ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/UUP#NYSE">UUP</a>), rose 0.5%, reaching levels last seen in late July. 
At midday in New York, the S&amp;P 500 was down 0.7%, attempting to hold support around the 5,800-point level. The Dow Jones also dropped 0.7%, and tech stocks, along with small caps, fared worse, sliding by 0.9%.
On the data front, mortgage applications declined for the fourth straight week, reflecting continued pressure <a href="https://www.benzinga.com/economics/macro-economic-events/24/10/41488744/mortgage-applications-fall-for-fourth-straight-week-as-high-rates-squeeze-homebuy">from elevated borrowing costs.</a>
Existing home sales fell by 1% in September to a seasonally adjusted annualized rate of 3.84 million, the lowest level since October 2010. This follows an upwardly revised 3.88 million in August and missed forecasts of 3.9 million.
Despite weak housing data, real estate stocks showed surprising resilience. The Vanguard Real Estate ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VNQ#NYSE">VNQ</a>) and the SPDR Homebuilders ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XHB#NYSE">XHB</a>) moved higher after two straight sessions of losses.
Gold prices, as tracked by the SPDR Gold Trust (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GLD#NYSE">GLD</a>), fell more than 1%, pulling mining stocks down with it. Silver plummeted over 3%, retreating from 12-year highs reached on Tuesday.
Oil prices slipped by 1%, while Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) tumbled 2%. 
<h1 class="wp-block-heading">Wednesday&#8217;s Performance In Major U.S. Indices, ETFs</h1>
<figure class="wp-block-table is-style-stripes"> 
<table>
<tbody>
<tr>
<td>Major Indices</td>
<td>Price</td>
<td>1-day %chg</td>
</tr>
<tr>
<td>S&amp;P 500</td>
<td>5,815.02</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Dow Jones</td>
<td>42,625.59</td>
<td>-0.7%</td>
</tr>
<tr>
<td>Russell 2000</td>
<td>2,213.10</td>
<td>-0.9%</td>
</tr>
<tr>
<td>Nasdaq 100</td>
<td>20,196.24</td>
<td>-0.9%</td>
</tr>
</tbody>
</table>
<figcaption class="wp-element-caption">Updated 12:00 p.m. ET </figcaption></figure>
According to <a href="https://bzresearch.myclickfunnels.com/benzinga-pro-content-webinar-registration/?utm_source=BZprocontent102224&amp;t=be2bearmibe3na1">Benzinga Pro</a> data:
<ul>
<li>The&nbsp;SPDR S&amp;P 500 ETF Trust&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SPY#NYSE">SPY</a>) fell 0.6% to $579.72.</li>
<li>The&nbsp;SPDR Dow Jones Industrial Average&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DIA#NYSE">DIA</a>)&nbsp;inched 0.7% lower to $426.41.</li>
<li>The tech-heavy Invesco QQQ Trust Series (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/QQQ#NASDAQ">QQQ</a>) fell 1% to $491.16.</li>
<li>The iShares Russell 2000 ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IWM#NYSE">IWM</a>) fell 0.7% $219.80.</li>
<li>The Real Estate Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLRE#NYSE">XLRE</a>) outperformed, up 0.6%. The Consumer Discretionary Select Sector SPDR Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XLY#NYSE">XLY</a>) lagged, down 1%.</li>
</ul>
<h1 class="wp-block-heading">Wednesday&#8217;s Stock Movers</h1>
<ul>
<li>Boeing Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BA#NYSE">BA</a>) fell 2.4% after reporting a worse-than-expected losses<a href="https://www.benzinga.com/news/earnings/24/10/41486950/boeing-q3-earnings-revenue-and-profit-decline-cultural-challenges-ceo-ortberg-vows-transformation"> last quarter</a>.</li>
</ul>
Other stocks reacting to earnings included:
<ul>
<li>Texas Instruments Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TXN#NASDAQ">TXN</a>), up 3.5%.</li>
<li>Baker Hughes Co. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKR#NASDAQ">BKR</a>), up 3.9%.</li>
<li>Seagate Technology Holdings PLC (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STX#NASDAQ">STX</a>), down over 7%.</li>
<li>Packaging Corporation of America (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PKG#NYSE">PKG</a>), up over 6%.</li>
<li>Manhattan Associates Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MANH#NASDAQ">MANH</a>), down over 7%.</li>
<li>East West Bancorp. Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EWBC#NASDAQ">EWBC</a>), up over 7%.</li>
<li>Enphase Energy Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ENPH#NASDAQ">ENPH</a>), down over 13%.</li>
<li>Coca-Cola Co. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KO#NYSE">KO</a>), down 2.2%. </li>
<li>Thermo Fisher Scientific Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TMO#NYSE">TMO</a>), down 2.9%.</li>
<li>NextEra Energy Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEE#NYSE">NEE</a>), down 0.1%. </li>
<li>AT&amp;T Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/T#NYSE">T</a>), up 3.8%. </li>
<li>Boston Scientific Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BSX#NYSE">BSX</a>), down 3.7%. </li>
<li>CME Group Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CME#NASDAQ">CME</a>), down 0.9%. </li>
<li>GE Vernova Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEV#NYSE">GEV</a>), down 1.6%. </li>
<li>Hilton Worldwide Holdings Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HLT#NYSE">HLT</a>), down 2.6%. </li>
<li>Vertiv Holdings LLC (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/VRT#NYSE">VRT</a>), down 2.8%. </li>
<li>Old Dominion Freight Line Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ODFL#NASDAQ">ODFL</a>), down 4.8%. </li>
</ul>
Large-cap companies reporting earnings after the close include Tesla Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), T-Mobile US Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TMUS#NASDAQ">TMUS</a>), International Business Machines Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IBM#NYSE">IBM</a>), ServiceNow Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NOW#NYSE">NOW</a>), Lam Research Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/LRCX#NASDAQ">LRCX</a>), Newmont Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/NEM#NYSE">NEM</a>), United Rentals Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/URI#NYSE">URI</a>), Las Vegas Sands Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/LVS#NYSE">LVS</a>), Raymond James Financial Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RJF#NYSE">RJF</a>). 
Read Now:
<ul>
<li><a href="https://www.benzinga.com/markets/bonds/24/10/41455678/gold-on-track-for-best-year-since-1979-veteran-investor-says-sell-bonds-buy-gold">Gold On Track For Best Year Since 1979: Veteran Investor Says &#8216;Sell Bonds, Buy Gold&#8217;</a></li>
</ul>

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