Stock Update: Verizon Communications Inc (NYSE:VZ) – What Will Frontier Do with Verizon’s Penetrated Assets?

[Market Realist] – There are some opportunities for Frontier Communications within the significantly penetrated wireline assets in the Verizon transaction. Read more on this. Verizon Communications Inc. (VZ) , valued at $190.85B, began trading this morning at $46.51. During the trading session, VZ traded between $46.39 to $46.93 with a trailing 52-week range being $38.06 to $50.86. VZ shares are currently priced at 11.67x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 27.11x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.26 per share annually in dividends, yielding 4.96%. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $0.88 per share, which would be $0.17 better than the year-ago quarter and a $0.01 sequential increase. Investors should also note that the full-year EPS estimate of $3.97 is a $0.62 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $34.12 Billion. If reported, that would be a 2.80% 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. The average price target for VZ shares by the analysts covering it is $50.12, which is 7.76% above where the stock opened. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Exclusive: Verizon weighing $10 billion sale of enterprise assets – sources Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon May Not Sell Remaining Wireline Assets in the Near Term Company Update (NYSE:VZ): Verizon Sells Wireline Assets to Frontier in 3 States