Company Update: Verizon Communications Inc (NYSE:VZ) – Verizon Wireless Announces Major Hiring Effort in Philadelphia Tri-State Region

Verizon Communications Inc (NYSE:VZ) [PR Newswire] – PHILADELPHIA, April 1, 2014 /PRNewswire/ — Verizon Wireless has announced plans to add 150 positions in the Philadelphia Tri-State region in retail sales. Interested candidates can apply online by visiting the Verizon Wireless website at “Verizon Wireless is a fast-growing leader in a dynamic and innovative industry and we’re seeking motivated and talented professionals to join our retail sales team. We know that Philadelphia is one of the top technology regions in the country and our company welcomes candidates who can add their talents to those of the best wireless communications team in the industry,” said Rob Miller, Philadelphia Tri-State Region President for Verizon Wireless.
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Verizon Communications Inc. (VZ), valued at $197.74B, started trading this morning at $47.54.
Looking at today’s market, VZ one day range is $47.20 to $47.78 with a trailing 52-week range being $45.08 to $54.31.
VZ shares are currently priced at 13.59x this year’s forecasted earnings, which makes them relatively expensive compared to the industry’s 12.31x earnings multiple for the same period.
And for dividend hunters, the company pays shareholders $2.12 per share annually in dividends, yielding 4.50%.
Consensus earnings for the current quarter by the 22 sell-side analysts covering the stock is an estimate of $0.85 per share, which would be $0.17 better than the year-ago quarter and a $0.03 sequential decrease. The full-year EPS estimate is $3.50, which would be a $0.66 better than last year.
The quarterly earnings estimate is predicated on a consensus revenue forecast of $30.66 Billion. If reported, that would be a 4.21% increase over the year-ago quarter.
In terms of ratings, Pacific Crest downgraded VZ from Outperform to Sector Perform (Jan 22, 2014). Previously, Deutsche Bank upgraded VZ from Hold to Buy.
Given all the information above, we should disclose to readers that the average price target is $54.04, which is 13.67% above than it opened this morning.
Summary (NYSE:VZ) :  Verizon Communications Inc., through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses, and governmental agencies worldwide. Its Wireless segment offers access to various wireless voice and data services comprising Internet access through smart phones and basic phones, and notebook computers and tablets; messaging services to send and receive text, picture, and video messages; and consumer and business focused multimedia applications under the Verizon Wireless brand. This segment also provides location-based services; global data services; HomeFusion Broadband, a high-speed Internet service for homes; other connection-related services, such as network access and value added services to support telemetry-type applications; and machine-to-machine services that support devices used in healthcare, manufacturing, utilities, distribution, and consumer products markets, as well as sells smart phones and basic phones, tablets, and other Internet access devices. As of February 24, 2014, it served 103 million retail customers. The company’s Wireline segment offers video services over its fiber-optic network; data Services comprising high-speed Internet and FiOS broadband data products, as well as local exchange capacity, managed, mobility, and security services; voice services, such as local exchange, regional, long distance, wire maintenance, and voice messaging services, as well as VoIP, and landline and wireless services; and local dial tone and broadband services to local, long distance, and other carriers. This segment also provides networking products and solutions, such as private Internet protocol services, and Ethernet access and ring services; and infrastructure and cloud services. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was founded in 1983 and is headquartered in New York, New York.
Tag Helper ~ Stock Code: VZ | Common Company name: Verizon | Full Company name: Verizon Communications Inc (NYSE:VZ) .

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