Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon CEO: Go90 ‘Overhyped,’ But ‘Expectations Are Realistic’

[at Investor’s Business Daily] – Verizon Communications’ (VZ) Go90 mobile video service was “overhyped,” Verizon CEO Lowell McAdam said at an investor conference Tuesday. McAdam downplayed expectations for Go90, speaking at … Read more on this. Verizon Communications Inc. (VZ) , valued at $202.10B, started the session at $49.36. During today’s session, VZ traded between $49.20 to $49.62 with a trailing 52-week range being $38.06 to $54.49. VZ shares are currently priced at 12.44x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.72x earnings multiple. And for those looking to make a return holding the stock, the company pays shareholders $2.26 per share annually in dividends, yielding 4.60%. In a review of the consensus earnings estimate this quarter, 23 sell-side analysts are looking at $0.98 per share, which would be $0.06 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 $3.95 is a $0.04 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 $31.22 Billion. If realized, that would be a 3.10% decrease over the year-ago quarter. In terms of ratings, Bernstein downgraded VZ from Outperform to Mkt Perform (Apr 7, 2016). Previously, Jefferies downgraded VZ from Buy to Hold. When considering if the stock is under or overvalued, the average price target is $52.30, which is 5.96% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – How Did the AOL Acquisition Affect Verizon’s 1Q16 Revenues? Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon’s Value Proposition in the US Telecom Market Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon Communications (VZ) Stock Rises in Pre-Market Trading on New Network Offer