Stock Update (NYSE:VZ): Exclusive: Sprint execs respond to Ricky Gervais, Verizon; tout KC

[at American City Business Journals] – Sprint Corp. executives would like to personally thank Verizon and Ricky Gervais for acknowledging Sprint Corp.’s network improvements. “We are flattered that they would spend so much on TV ads for Sprint,” Chief Technology Officer John Saw said in an interview with the Kansas City Business Journal. “We must be making them very nervous and looks like we may have poked the bear and woke the sleeping giant.” Verizon (VZ) debuted two television commercials featuring the comedian ragging on Kansas City and its hometown wireless carrier — Sprint. Read more on this. Verizon Communications Inc. (VZ) , with a current market cap of $215.55B, started the session at $53.13. Shares have traded today between $52.82 and $53.23 per share with the price of the stock fluctuating between $38.06 to $53.85 over the last 52 weeks. VZ shares are currently priced at 13.34x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.89x earnings multiple. The company pays shareholders $2.26 per share annually in dividends, yielding 4.23%. Consensus earnings for the current quarter by the 24 sell-side analysts covering the stock is an estimate of $1.06 per share, which would be $0.04 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 $3.99 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 $32.70 Billion. If realized, that would be a 2.25% increase over the year-ago quarter. In terms of ratings, Deutsche Bank Initiated VZ at Hold (Feb 24, 2016). Previously, DA Davidson Initiated VZ at to Neutral. The average price target for VZ shares by the analysts covering the stock is $50.50, which is 4.95% below where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon Launches Value Added Distributor Program with SYNNEX Corporation Company Update (NYSE:VZ): Sprint (S) Stock Tumbled Ahead of ‘Cramming’ Refund Deadline Market Update: Verizon Communications Inc (NYSE:VZ) – Exclusive: Verizon weighing $10 billion sale of enterprise assets – sources