A Blue Chip Name is About to Offer a 6% Yield

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A Blue Chip Name is About to Offer a 6% Yield

TheStreet2022-03-25

To be perfectly honest, few traders are revved up about AT&T, and for good reason.The company's stock has been a perennial dog, amid ill-advised acquisitions, broken promises from management and tough...

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yyling
·2022-03-25
Wow
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okkar
·2022-03-25
🚀
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Road1Warrior
·2022-03-25
I do have some shares on T. Use this services for a long time. Now I should be getting pay for owning this stock.
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The transaction will give T shareholders 0.24 of a share of the new Warner Bros Discovery (with all current Discovery shares getting wrapped in) for each share of T.\"The value T is getting is extrapolated from the current value of DISCA, 71% of a $62 billion company, so at the current price of around $26 for DISCA, T holders have about $6/share in Warner Bros Discovery value\" Ginesin said. “Subtracting that from the T share price of ~$23, the remaining $17 will encompass the new AT&T stock. As part of splitting off Warner Bros, AT&T will transfer over $40 billion in debt to the new Warner Bros Discovery.”There’s more to the deal.With T at the equivalent of $17 post-deal, the shares will be among the cheapest in the S&P 500, yet the company provides an indispensable service with a growing business producing strong cash flow.\"The new AT&T will be a $120 billion market cap company, growing revenues at low single digits, earning this year around $2.30/share and $20 billion in expected cash flow in 2023,\" Ginesin noted. “The 40% dividend payout ratio will yield over 6%.”The pro forma shares of T have a P/E of 7 and double-digit free cash flow yield -- metrics that provide the stock limited downside and plenty of upside as Wall Street gets comfortable with the more focused, less complex and indebted AT&T. “Management sees potential for stock buybacks after the capex surge peaks in 2023 and net debt declines to $110 billion,” Ginesin said.Wall Street is taking a wait-and-see stance before the deal closes to decipher how AT&T and Warner Bros Discovery will trade post-deal, possibly missing the opportunity to own DISCA at a reasonable valuation and T at a bargain-basement price.“At AT&T's investor day, management laid out a credible plan of organic growth and cost-cutting that will help support assumptions for solid earnings and free cash flow,” Ginesin added. “Any appreciation by Wall Street for AT&T's consistent and growing cash flow will result in a much higher stock price.”","kind":"news","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":9010000453,"gmtCreate":1648194444586,"gmtModify":1676534315852,"author":{"id":"3573962155225427","authorId":"3573962155225427","name":"yyling","avatar":"https://community-static.tradeup.com/news/865b4cb13bd5f916fcfff2d7711fa142","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3573962155225427","authorIdStr":"3573962155225427"},"htmlText":"Wow","listText":"Wow","text":"Wow","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9010000453","repostId":1169251726,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9037743962,"gmtCreate":1648190377691,"gmtModify":1676534315305,"author":{"id":"3580969894464089","authorId":"3580969894464089","name":"okkar","avatar":"https://static.tigerbbs.com/5284953eb6a2c6608eb0336ea3795f46","vip":1,"crmLevel":5,"crmLevelSwitch":0,"idStr":"3580969894464089","authorIdStr":"3580969894464089"},"htmlText":"🚀","listText":"🚀","text":"🚀","images":[],"top":1,"highlighted":2,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/9037743962","repostId":1169251726,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":9037751807,"gmtCreate":1648188427385,"gmtModify":1676534315111,"author":{"id":"4098084219326670","authorId":"4098084219326670","name":"Road1Warrior","avatar":"https://community-static.tradeup.com/news/444bc0aeceab5292f15cd24cd37ab6c3","vip":1,"hat":"https://static.tigerbbs.com/b073a07f77dbe6b3bec6b12311fde6bd","crmLevel":4,"crmLevelSwitch":1,"idStr":"4098084219326670","authorIdStr":"4098084219326670"},"htmlText":"I do have some shares on T.&nbsp; Use this services for a long time.&nbsp; Now I should be getting pay for owning this stock.","listText":"I do have some shares on T.&nbsp; Use this services for a long time.&nbsp; Now I should be getting pay for owning this stock.","text":"I do have some shares on T. 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