Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon, unions reach deal in principle for 4-year contract

[AP] – Striking Verizon employees may be back to work next week after the company and its unions reached an agreement in principle for a four-year contract. About 39,000 landline and cable employees in nine Eastern … Read more on this. Verizon Communications Inc. (VZ) , currently valued at $206.34B, started the session at $50.39. During the trading session, VZ traded between $50.18 to $50.86 with a trailing 52-week range being $38.06 to $54.49. Priced at 12.70x this year’s forecasted earnings, VZ shares are relatively inexpensive compared to the industry’s 20.56x forward p/e ratio. And for passive income investors, the company pays shareholders $2.26 per share annually in dividends, yielding 4.53%. 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. In looking at the bigger picture, the full-year EPS estimate of $3.95 would be 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 $31.20 Billion. If realized, that would be a 3.17% 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. The average price target for VZ shares is $52.26, which is 3.71% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon, unions set to return to bargaining table Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon Buying Stake In AwesomenessTV To Reach Young Consumers Company Update: Verizon Communications Inc (NYSE:VZ) – Hearst and Verizon join forces to reach mobile-obsessed millennials