Company Update (NYSE:VZ): Verizon, Sequans Announce LTE CAT M Chipset Acceleration for IoT

[Business Wire] – Sequans Communications S.A. and Verizon announced joint activities to accelerate commercial realization of Category M LTE products based on the coming Release 13 of the 3GPP LTE standard. Read more on this. Verizon Communications Inc. (VZ) , with a current value of $205.67B, started trading this morning at $50.42. Looking at the stock, its one day range is $50.44 to $50.51 with a one year range of $38.06 to $51.02. Priced at 12.69x this year’s forecasted earnings, VZ shares are relatively inexpensive compared to the industry ’s 22.50x forward p/e ratio. The company pays shareholders $2.26 per share annually in dividends, yielding 4.52%. In a review of the consensus earnings estimate this quarter, 21 sell-side analysts are looking at $1.06 per share, which would be $0.04 better than the year-ago quarter and a $0.01 sequential increase. The full-year EPS estimate is $3.99, which would be a $0.00 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $32.79 Billion. If reported, that would be a 2.53% increase over the year-ago quarter. Recently, Buckingham Research Initiated VZ at Neutral (Jul 2, 2015). Previously, JP Morgan downgraded VZ from Overweight to Neutral. The average price target for VZ shares by the analysts covering it is $50.71, which is 0.58% above where the stock opened. See more in (NYSE:VZ) Similar Articles: Company Update: Verizon Communications Inc (NYSE:VZ) – Possible Initiation of Verizon’s Data Center Transaction Company Update: Verizon Communications Inc (NYSE:VZ) – Should You Buy Verizon Now or Just Hang Up? Company Update: Verizon Communications Inc (NYSE:VZ) – Apple has one big advantage with new Verizon payment plans