Market Update (NYSE:VZ): Verizon Returns to Profitability

[at Investopedia] – Verizon Inc. swung to a profit last quarter but reiterated weak guidance for the rest of the year, as it reported results today. Read more on this. Verizon Communications Inc. (VZ) , with a current market cap of $186.84B, started the session at $45.03. During the trading session, VZ traded between $44.43 to $45.99 with a trailing 52-week range being $38.06 to $50.86. Verizon (VZ) shares are currently priced at 11.19x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 22.54x earnings multiple for the same period. 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. What we find to be interesting is 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 based on a consensus revenue forecast of the current quarter of $34.06 Billion. If realized, that would be a 2.62% 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. Investors should keep in mind is that the average price target is $50.54, which is 12.24% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon Communications (VZ) Stock Rises in Pre-Market Trading on New Network Offer 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 to Present at Oppenheimer Conference Aug. 11