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Stock Update (NYSE:VZ): Verizon Offers New Prepaid Plans

[Benzinga] – Verizon Communications Inc. (NYSE: VZ ) has come out with offers for prepaid smartphone plans on terms starting at $30 a month. The announcement comes on the heels of T-Mobile US Inc (NASDAQ: TMUS ) revealing … Read more on this. Verizon Communications Inc. (VZ) , with a current market cap of $210.04B, started the session at $51.22. Looking at the stock, its one day range is $51.08 to $51.54 with its 52-week range being $38.06 to $54.49. Priced at 12.92x this year’s forecasted earnings, VZ shares are relatively inexpensive compared to the industry’s 16.51x forward p/e ratio. And for passive income investors, the company pays shareholders $2.26 per share annually in dividends, yielding 4.42%. In a review of the consensus earnings estimate this quarter, 23 sell-side analysts are looking at $0.99 per share, which would be $0.05 worse than the year-ago quarter and a $0.04 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 $31.26 Billion. If reported, that would be a 2.98% decrease over the year-ago quarter. Recently, Bernstein downgraded VZ from Outperform to Mkt Perform (Apr 7, 2016). Previously, Jefferies downgraded VZ from Buy to Hold. With the above information in mind, readers should note that the average price target is $52.30, which is 2.11% above where the stock opened this morning. See more in (NYSE:VZ) Similar Articles: Market Update: Verizon Communications Inc (NYSE:VZ) – Comcast Not Sweating Over Verizon, AT&T 5G Fixed Wireless Plans Stock Update (NYSE:VZ): Verizon announces tender offers for 34 tranches of notes issued by Verizon and its subsidiaries Market Update (NYSE:VZ): Introducing the LG Optimus Zone 3 on Verizon’s simplified prepaid plan
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