Dallas-based AT&T Inc. (NYSE: T), the exclusive U.S. carrier for the iPhone, is scheduled to discuss its third quarter 2009 financial results in a conference call Thursday at 10:00 AM ET. You can catch the live webcast of the call on the company's website.
During the three months that ended in September, AT&T revamped many of its retail locations, expanded its global wi-fi presence, and declared a quarterly dividend. Analysts surveyed by Thomson Reuters expect this leading provider of wireline voice communications services in the U.S. to report that earnings grew 6.0% from a year ago to $0.50 per share. But revenue for the quarter is expected to be 1.5% lower to $30.9 billion.
So far, analysts expect similar results in the fourth quarter, and the forecast for the full year is for earnings of $2.07 per share (-3.5%) on $123.1 billion (-0.7%) in revenue. AT&T topped earnings expectations in the past two quarters, by as much as four cents per share.
The long-term EPS growth forecast is 5.4%, which is better than that of competitors Sprint Nextel Corp. (NYSE: S) and Verizon Communications Inc. (NYSE: VZ). AT&T's earnings multiple is 12x, and the First Call consensus recommendation remains to buy the stock. Bloggingstocks contributor Joseph Lazzaro likes AT&T for its low risk and return on equity, while contributor Sam Collins likes its high quality and dividend yield.
AT&T shares are about 5% higher than three months ago, but down about 10% year to date.
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