|Bid||3.760 x 655100|
|Ask||3.200 x 620800|
|Day's range||3.480 - 3.560|
|52-week range||3.370 - 5.290|
|PE ratio (TTM)||10.72|
|Forward Dividend & Yield||0.25 (8.50%)|
|1y target est||3.96|
The Telstra Corporation Ltd (ASX:TLS) share price could head lower if it has to cut dividends further.
Telstra says competition in the telecommunications sector remains tough and concedes it will probably lose customers to smaller rival TPG Telecom when the market newcomer establishes its own mobile phone network. Telstra chairman John Mullen says TPG is "a formidable operator", and Telstra is not underestimating its impact on pricing and competition.
Telstra chairman John Mullen says the telco's board had "many sleepless nights" agonising over the decision to cut its historically high dividends but making no change would have put the company's balance sheet at risk. Mr Mullen told shareholders at the company's annual general meeting on Tuesday that he realised that the company's recent decision to change its dividend policy was tough on shareholders. "We spent many long hours debating it, many sleepless nights working it through in our minds, knowing full well the impact it would have on our shareholders," Mr Mullen said in Melbourne on Tuesday.
Telstra chairman John Mullen says the end of Telstra's policy to pay almost all profits out as dividends was tough on shareholders but he expects the company to maintain or increase the total dividend over time as earnings grow. Telstra chief executive Andrew Penn told shareholders at the company's annual general meeting in Melbourne that the operating environment for telcos is challenging, with increased competition, digital disruption and the migration to the NBN (National Broadband Network) to be dealt with over the next two to three years. Telstra has confirmed its guidance for 2017/18, saying it expects income in the range of $28.3 billion to $30.2 billion and EBITDA (earnings before interest, tax, depreciation and amortisation) of $10.7 billion to $11.2 billion.
The consumer watchdog has launched an investigation into the proposal to merge Foxtel and Fox Sports Australia into a single company majority owned by News Corp. Fox Sports is completely owned by Rupert Murdoch's News Corp, while Telstra and Foxtel currently share ownership of Foxtel 50-50.
Australia's dominant telecommunications company Telstra Thursday reported a surprise slump in first-half profit with its fixed-line and mobile businesses taking a hit amid increased competition and a shift towards digital. Net profit after tax for the six months to December 31 fell 14.4 percent to Aus$1.79 billion (US$1.38 billion) from the previous corresponding period. The figure sent Telstra's share price tumbling 4.43 percent to Aus$4.96 in mid-day trade in Sydney.
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