Market Update: Verizon Communications Inc (NYSE:VZ) – How Did the AOL Acquisition Affect Verizon’s 1Q16 Revenues?

[Market Realist] – In 1Q16, Verizon’s revenues increased by ~0.6% YoY (year-over-year) to ~$32.2 billion. However, Verizon’s revenues missed Wall Street analysts’ consensus estimate by ~1% in 1Q16. Read more on this. Verizon Communications Inc. (VZ) , valued at $206.78B, opened at $50.98. During today’s session, VZ traded between $50.28 to $51.00 with a one year range of $38.06 to $54.49. VZ shares are currently priced at 12.82x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 4.26x earnings multiple. The company pays shareholders $2.26 per share in dividend income per year, for a current yield of 4.47%. Consensus earnings for the current quarter by the 27 sell-side analysts covering the stock is an estimate of $0.99 per share, which would be $0.05 worse than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $3.96, which would be a $0.03 better than last year. The quarterly earnings estimate is predicated on a consensus revenue forecast of $31.47 Billion. If reported, that would be a 2.33% decrease over the year-ago quarter. In terms of ratings, Bernstein downgraded VZ from Outperform to Mkt Perform (Apr 7, 2016). Previously, Jefferies downgraded VZ from Buy to Hold. Given all the information above, we should disclose to readers that the average price target is $52.00, which is 2.00% above than it opened this morning. See more in (NYSE:VZ) Similar Articles: Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon’s Value Proposition in the US Telecom Market Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon (VZ) Stock is the ‘Chart of the Day’ Market Update: Verizon Communications Inc (NYSE:VZ) – Verizon Communications (VZ) Stock Rises in Pre-Market Trading on New Network Offer