Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon Buying Stake In AwesomenessTV To Reach Young Consumers

[at Investor’s Business Daily] – Verizon Communications (VZ) is taking a minority stake in youth-focused media and entertainment company AwesomenessTV. Verizon has agreed to acquire a 24.5% stake in AwesomenessTV in a deal that should … Read more on this. Verizon Communications Inc. (VZ) , with a current market cap of $217.22B, began trading this morning at $53.62. Looking at the stock, its one day range is $53.21 to $53.62 with the price of the stock fluctuating between $38.06 to $54.49 over the last 52 weeks. Verizon (VZ) shares are currently priced at 13.56x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 17.74x earnings multiple for the same period. The company pays shareholders $2.26 per share in dividend income per year, for a current yield of 4.18%. Consensus earnings for the current quarter by the 25 sell-side analysts covering the stock is an estimate of $1.05 per share, which would be $0.03 better than the year-ago quarter and a $0.01 sequential decrease. In looking at the bigger picture, the full-year EPS estimate of $3.99 would be a $0.00 setback 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 $32.57 Billion. If realized, that would be a 1.84% increase over the year-ago quarter. In terms of ratings, Macquarie Initiated VZ at Neutral (Apr 5, 2016). Previously, Deutsche Bank Initiated VZ at to Hold. Investors should keep in mind is that the average price target is $51.70, which is 3.58% below where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Company Update: Verizon Communications Inc (NYSE:VZ) – Hearst and Verizon join forces to reach mobile-obsessed millennials Stock Update: Verizon Communications Inc (NYSE:VZ) – How Could Verizon Benefit from XO Communications Transaction? Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon Communications (VZ) Stock Rises in Pre-Market Trading on New Network Offer