Has AT&T Stock Reached It's Bottom?

T fell to a 19-year low yesterday

Sep 27, 2022 at 10:36 AM
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AT&T Inc. (NYSE:T) is one of the largest telecommunications companies in the world with a market cap of $111.66 billion. But on the charts, T has taken a 23% haircut in the last three months, a deficit that has the stock now below its year-over-year breakeven level. Fresh off a 19-year low of $15.58 yesterday, is the bottom finally in?

AT&T stock now trades at an intriguing forward price-earnings ratio of 6.39 and a price-sales ratio of 0.78. T also offers a very attractive dividend yield of 6.93% at a forward dividend of $1.11.

However, the telecom company’s fundamentals are nowhere near as appealing. To begin with, AT&T holds an awful balance sheet with an astounding $162.34 billion in total debt, which is over $50 million greater than its market cap. It also maintains just $4.1 billion in cash. Moreover, the business is expected to end fiscal 2022 with a 21.1% decline in revenues and 24.7% decline in earnings.

The company is also estimated to see a 4.5% decrease in revenues and a 2.3% decrease in earnings for fiscal 2023, leaving AT&T stock in a vulnerable position for at least the coming year. Still, T could prove to be a bargain for long-term investors due to its cheap price, high dividend yield, and the business’s strong hold on a significant portion of the market share.

 

 

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