Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon to expand Houston network ahead of 2017 Super Bowl

[at American City Business Journals] – Leading up to the 2017 Super Bowl, telecomm giant Verizon (VZ) could spend upward of $70 million to prepare for the massive uptick in demand in Houston during the Super Bowl celebration. It’s around how much the New York-based carrier spent in San Francisco leading up to Super Bowl 50, and Aparna Khurjekar, vice president of field networks for Verizon, expects next year’s big game in the Bayou City to be no different. During the Super Bowl, Verizon saw seven terabytes of data — the equivalent of about 5 million social media posts — on its network alone. Read more on this. Verizon Communications Inc. (VZ) , currently valued at $201.29B, ended trading at $49.39. Looking at today’s trading action, the company’s one day range from $49.35 to $49.71 with the price of the stock fluctuating between $38.06 to $51.20 over the last 52 weeks. Priced at 12.38x this year’s forecasted earnings, VZ shares are relatively inexpensive compared to the industry ’s 22.33x forward p/e ratio. And for passive income investors, the company pays shareholders $2.26 per share annually in dividends, yielding 4.43%. According to a consensus of 22 analysts, the earnings estimate of $1.06 per share would be $0.04 better than the year-ago quarter and a $0.01 sequential increase. Investors should also note that the full-year EPS estimate of $3.99 is a $0.00 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 $32.81 Billion. If realized, that would be a 2.60% increase over the year-ago quarter. Recently, DA Davidson Initiated VZ at Neutral (Feb 4, 2016). Previously, Buckingham Research Initiated VZ at to Neutral. Given all the information above, we should disclose to readers that the average price target is $50.80, which is 2.85% above than it opened this morning. See more in (NYSE:VZ) Similar Articles: Stock Update (NYSE:VZ): Verizon Wireless customers share more than 68.6 terabytes of wireless data at most connected Super Bowl ever Company Update: Verizon Communications Inc (NYSE:VZ) – Verizon Customers Gain Unprecedented Access To All Things Super Bowl 50 Market Update: Verizon Communications Inc (NYSE:VZ) – $70 million network investment has the Verizon Wireless network ready to serve fans at most connected Super Bowl ever