Stock Update (NYSE:VZ): Jim Cramer — Verizon Has More Upside

[at TheStreet] – If Verizon is able to reach an agreement with the Communications Workers of America, it could expand its margins. Read more on this. Verizon Communications Inc. (VZ) , valued at $211.19B, began trading this morning at $51.37. A quick look at the market, the company’s stock traded between $51.18 and $51.90 with a trailing 52-week range being $38.06 to $54.49. VZ shares are currently priced at 12.90x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.01x forward p/e ratio. And for those looking to make a return holding the stock, the company pays shareholders $2.26 per share annually in dividends, yielding 4.40%. According to a consensus of 26 analysts, the earnings estimate of $1.06 per share would be $0.04 better than the year-ago quarter and a $0.01 sequential increase. Investors should also note that the full-year EPS estimate of $3.98 is a $0.01 setback when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $32.51 Billion. If reported, that would be a 1.66% 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. With the above information in mind, readers should note that the average price target is $52.04, which is 1.30% above 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: Verizon Communications Inc (NYSE:VZ) – Verizon Exploring Asset-Backed Financing to Get Upfront Cash