Market Update (NYSE:VZ): Verizon launches sponsored data service

[Reuters] – Verizon Communications Inc said on Tuesday it launched a beta version of FreeBee Data, a service through which content providers sponsor data services to consumers. FreeBee Data 360 allows content providers to sign up to provide consumers some or all of their mobile content, without using up their data plan, Verizon said. The company said a second service under FreeBee Data would allow content providers to sponsor specific consumer actions on a per-click basis, including for mobile video clips, audio streaming and app downloads. Read more on this. Verizon Communications Inc. (VZ) , currently valued at $181.27B, opened at $44.74. Looking at today’s market, VZ one day range is $44.54 to $44.94 and has traded between $38.06 and $50.86 over the past year. Verizon (VZ) shares are currently priced at 11.19x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.54x earnings multiple for the same period. And for those looking to make a return holding the stock, the company pays shareholders $2.26 per share annually in dividends, yielding 5.04%. According to a consensus of 25 analysts, the earnings estimate of $0.88 per share would be $0.17 better than the year-ago quarter and a $0.00 sequential decrease. The full-year EPS estimate is $3.97, which would be a $0.62 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $34.06 Billion. If reported, that would be a 2.62% increase over the year-ago quarter. More recently, Buckingham Research Initiated VZ at Neutral (Jul 2, 2015). Previously, JP Morgan downgraded VZ from Overweight to Neutral. Investors should keep in mind is that the average price target is $50.58, which is 13.05% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update (NYSE:VZ): Exclusive – Verizon launches auction to sell data centres – sources Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon (VZ) Stock Gains on Unlimited Data Plan Hike Company Update (NYSE:VZ): Verizon Selects Mesosphere DCOS as Nationwide Platform for Data Center Service Orchestration