Operator
Thank you for standing by. Welcome to Shaw Communications first-quarter 2021 conference call and webcast. Today s call will be hosted by Mr. Brad Shaw, executive chair and chief executive officer of Shaw Communications.
[Operator instructions] Before we begin, management would like to remind listeners that comments made during today s call will include forward-looking information and there are risks that actual results could differ materially. Please refer to the companies publicly filed documents for more details on assumptions and risks. Mr. Shaw, I will now turn the call over to you.
Brad Shaw
Executive Chairman and Chief Executive Officer
Thank you, operator. Good morning, everyone. Happy New Year and thanks for joining us to discuss our Q1 results. With me today are members of our senior management team including our president, Paul McAleese; our chief financial corporate development officer, Trevor English.
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Pedestrians wearing protective masks walk past a AT&T store in San Francisco in July. David Paul Morris/Bloomberg
AT&T has recently weathered concerns that gave the stock a bumpy ride in 2020, but analysts at
Morgan Stanley believe things may well get worse again from here.
The stock (ticker: T) started the year just below $40, but dropped as low as $26.77 in late March’s steep market selloff. It rebounded above $33 in the early summer, then slid again as investors worried about the sustainability of AT&T’s dividend payment given needs for major capital investment in 5G, HBO Max, and fiber-optic cable. Shares hit their 2020 low on Oct. 28, closing at $26.50.
Morgan Stanley Downgrades AT&T Stock - MarketWatch marketwatch.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from marketwatch.com Daily Mail and Mail on Sunday newspapers.