Stock Update (NYSE:VZ): Will Verizon (VZ) Stock Be Helped by Data Centers Sale?

[at TheStreet] – Verizon (VZ) is said to be introducing auctions to sell its data centers, hoping to reap $2.5 billion from the sale. Read more on this. Verizon Communications Inc. (VZ) , valued at $186.48B, started the session at $45.49. Today’s price range has been between $45.31 and $45.89 per share and has traded between $38.06 and $50.86 over the past 12 months. VZ shares are currently priced at 11.68x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 23.38x earnings multiple. The company pays shareholders $2.26 per share in dividend income per year, for a current yield of 4.89%. According to a consensus of 25 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. Investors should also note that the full-year EPS estimate of $3.98 is a $0.63 improvement when compared to the previous year’s annual results. The quarterly earnings estimate is predicated on a consensus revenue forecast of $34.13 Billion. If reported, that would be a 2.83% increase over the year-ago quarter. In terms of ratings, Buckingham Research Initiated VZ at Neutral (Jul 2, 2015). Previously, JP Morgan downgraded VZ from Overweight to Neutral. When considering if perhaps the stock is under or overvalued, the average price target is $50.19, which is 10.33% above where the stock opened this morning. 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 (VZ) Stock Gains on Unlimited Data Plan Hike Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon strike possible as contract deadline looms