Stock Update (NYSE:VZ): Verizon sets record straight on unions’ latest strike threat

[PR Newswire] – NEW YORK, April 11, 2016 /PRNewswire/ — After nearly 10 months of unsuccessfully trying to reach a contract, Verizon remains committed to its negotiation objectives and seeks to bring this process to closure. In the event of a strike, the company is fully prepared to serve its customers. Read more on this. Verizon Communications Inc. (VZ) , valued at $210.97B, opened this morning at $52.38. Looking at the equity, the company’s one day range is $51.64 to $52.40 with the price of the stock fluctuating between $38.06 to $54.49 over the last 52 weeks. VZ shares are currently priced at 13.11x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 3.45x forward p/e ratio. And for income investors, the company pays shareholders $2.26 per share annually in dividends, yielding 4.33%. Consensus earnings for the current quarter by the 26 sell-side analysts covering the stock is an estimate of $1.05 per share, which would be $0.03 better than the year-ago quarter and a $0.01 sequential decrease. Investors should also note that the full-year EPS estimate of $3.98 is a $0.01 worse 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 $32.58 Billion. If realized, that would be a 1.88% increase 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. When considering if perhaps the stock is under or overvalued, the average price target is $51.74, which is 1.22% below where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon to redeem debt securities Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon (VZ) Stock is the ‘Chart of the Day’ Stock Update (NYSE:VZ): Verizon announces tender offers for 34 tranches of notes issued by Verizon and its subsidiaries