Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon Communications (VZ) Stock Rises in Pre-Market Trading on New Network Offer

[at TheStreet] – Verizon Communications (VZ) stock is up in pre-market trading after the telecommunications company offered consumers $650 to switch to a Verizon network. Read more on this. Verizon Communications Inc. (VZ) , currently valued at $191.02B, opened this morning at $46.98. Looking at the stock, its one day range is $46.84 to $47.00 and has traded between $38.06 and $50.86 over the past 12 months. VZ shares are currently priced at 11.77x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 27.11x forward p/e ratio. The company pays shareholders $2.26 per share annually in dividends, yielding 4.88%. According to a consensus of 24 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. In looking at the bigger picture, the full-year EPS estimate of $3.97 would be a $0.62 improvement 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 $34.12 Billion. If realized, that would be a 2.80% increase over the year-ago quarter. 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 6.68% above where the stock opened. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Inside Verizon’s big plans for the Internet of things Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon (VZ) Stock Gains on Unlimited Data Plan Hike Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon’s Wireless Network Ranked #1 for Overall Performance in Alabama by RootMetrics®