Stock Update (NYSE:VZ): Verizon Hearst Media Partners Debuts New Video Channels RatedRed.com & Seriously.TV at Newfronts

[Marketwired] – Verizon Hearst Media Partners will introduce its first two new multiplatform digital video channels at tonight’s Digital Content NewFronts in New York City: RatedRed.com and Seriously.TV. AOL’s presentation … Read more on this. Verizon Communications Inc. (VZ) , valued at $206.59B, began trading this morning at $51.11. A quick look at the market, the company’s stock traded between $50.36 and $51.32 with the price of the stock fluctuating between $38.06 to $54.49 over the last 52 weeks. VZ shares are currently priced at 12.96x this year’s forecasted earnings, which makes them relatively inexpensive compared to the industry’s 18.71x forward p/e ratio. And for dividend hunters, the company pays shareholders $2.26 per share annually in dividends, yielding 4.44%. Consensus earnings for the current quarter by the 23 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 $0.04 sequential decrease. What we find to be interesting is that the full-year EPS estimate of $3.96 is a $0.03 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 $31.26 Billion. If realized, that would be a 2.98% decrease over the year-ago quarter. More recently, Bernstein downgraded VZ from Outperform to Mkt Perform (Apr 7, 2016). Previously, Jefferies downgraded VZ from Buy to Hold. The average price target for VZ shares by the analysts covering it is $52.30, which is 2.33% above where the stock opened. See more in (NYSE:VZ) Similar Articles: Stock Update: Verizon Communications Inc (NYSE:VZ) – Verizon’s Value Proposition in the US Telecom Market Company Update: Verizon Communications Inc (NYSE:VZ) – Verizon Digital Media Services enters agreement to acquire Volicon, leading broadcast monitoring and archive company Company Update: Verizon Communications Inc (NYSE:VZ) – Hearst and Verizon join forces to reach mobile-obsessed millennials