Company Update (NYSE:VZ): Verizon CEO to speak at J.P. Morgan Conference May 24
May 23, 2016 at 08:00 AM EDT
[PR Newswire] – NEW YORK, May 23, 2016 /PRNewswire/ — Lowell McAdam, chairman and CEO of Verizon Communications Inc. (NYSE, Nasdaq: VZ), will speak at the J.P. Morgan Global Technology, Media and Telecom Conference in … Read more on this. Verizon Communications Inc. (VZ) , with a current value of $201.98B, began trading this morning at $49.66. Shares have traded today between $49.45 and $49.78 per share with its 52-week range being $38.06 to $54.49. VZ shares are currently priced at 12.54x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.72x earnings multiple. The company pays shareholders $2.26 per share in dividend income per year, for a current yield of 4.55%. According to a consensus of 23 analysts, the earnings estimate of $0.99 per share would be $0.05 worse than the year-ago quarter and a $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.96 is a $0.03 setback when compared to the previous year’s annual results. The quarterly earnings estimate is based on a consensus revenue forecast of the current quarter of $31.23 Billion. If realized, that would be a 3.07% decrease over the year-ago quarter. More recently, Bernstein downgraded VZ from Outperform to Mkt Perform (Apr 7, 2016). Previously, Jefferies downgraded VZ from Buy to Hold. The average price target for VZ shares by the analysts covering the stock is $52.30, which is 5.32% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon CFO to speak at MoffettNathanson Summit May 19 Company Update: Verizon Communications Inc (NYSE:VZ) – How Did Verizon’s Wireline Segment Contribute in 1Q16? Market Update (NYSE:VZ): Verizon EVP to present at Citi conference Jan. 6