Market Update (NYSE:VZ): This rural telecom giant is taking the reigns for Verizon’s FIOS network in San Antonio

[at American City Business Journals] – By the end of next week, there will be a new player in the internet service provider market in San Antonio after a multibillion-dollar deal between two telecommunication companies is finalized. On March 31, a transfer of ownership and customer base from Verizon Communications Inc. (VZ) to Frontier Communications Inc. (NASDAQ GS: FTR) is estimated to impact tens of thousands of individuals in San Antonio. Rhonda Lutzke is the area president of the south region at Frontier Communications Corp. who will oversee operations across Arizona, New Mexico, Nevada and Texas. Read more on this. Verizon Communications Inc. (VZ) , with a current market cap of $218.19B, began trading this morning at $52.74. Looking at the stock, its one day range is $52.66 to $53.62 with its 52-week range being $38.06 to $53.85. Priced at 13.42x this year’s forecasted earnings, VZ shares are relatively inexpensive compared to the industry’s 18.05x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.26 per share annually in dividends, yielding 4.25%. In a review of the consensus earnings estimate this quarter, 25 sell-side analysts are looking at $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 $32.69 Billion. If realized, that would be a 2.22% increase over the year-ago quarter. More recently, Deutsche Bank Initiated VZ at Hold (Feb 24, 2016). Previously, DA Davidson Initiated VZ at to Neutral. The average price target for VZ shares is $50.50, which is 4.25% below where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon, CenturyLink awarded $150M for network services in Virginia Market Update (NYSE:VZ): Verizon (VZ) Stock Up, Strikes Deal With Cuba Telecom Operator Etecsa 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