AT&T Inc. (NYSE:T) – AT&T selling Conn. wireline ops for $2 billion

AT&T Inc. (NYSE:T) [AP] – AT&T has agreed to sell its Connecticut wireline operations to Frontier Communications Corp. for $2 billion as it continues its transition to unwired operations and a cloud network. Shares of both companies …
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AT&T, Inc. (T), valued at $179.06B, ended trading at $34.15.
A quick look at the market, the company’s traded between $33.96 to $34.29 and has traded between $32.76 and $39.00 over the past year.
Priced at 13.83x this year’s forecasted earnings, T shares are relatively expensive compared to the industry’s 3.95x forward p/e ratio.
The company pays shareholders $1.80 per share annually in dividends, yielding 5.30%.
Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $0.50 per share, which would be $0.06 better than the year-ago quarter and a $0.01 sequential increase. Furthermore, our analysis shows the full-year EPS estimate to be $2.47, which would be a $0.16 better when compared to the last year’s annual results.
The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $33.05 Billion. If realized, that would be a 1.38% increase over the year-ago quarter.
In terms of ratings, Argus upgraded T from Hold to Buy (Jun 10, 2013). Previously, Barclays Initiated T at to Equal Weight.
The average price target for T shares by the analysts covering it is $37.08, which is 8.58% above where the stock opened.
AT&T Inc. (NYSE:T), provides telecommunications services to consumers, businesses and other providers in the United States and internationally. The company operates in three segments: Wireless, Wireline and Other.
Tag Helper ~ Stock Code: T | Common Company name: AT&T | Full Company name: AT&T Inc. (NYSE:T) .

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