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MarketScreener Homepage  >  Equities  >  Nyse  >  Verizon Communications    VZ

VERIZON COMMUNICATIONS

(VZ)
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Broadband Gets Boost, But No Bonanza

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03/26/2020 | 09:19am EDT

By Ryan Tracy

 

The coronavirus relief package headed for a House vote Friday dedicates millions of dollars to help schools and hospitals reach students and patients via the internet, but doesn't include the big-ticket broadband investment some lawmakers and industry lobbyists were seeking.

The draft bill dedicates about $30.75 billion for schools and colleges to respond to the virus, which could include everything from providing meals to buying devices for students to learn from home. The Department of Education would distribute the funds.

Some advocates had been hoping Congress would appropriate billions of dollars for Federal Communications Commission programs to help schools and low-income people get online, or to extend Internet access in rural areas.

The FCC would get a $200 million appropriation to respond to the virus, which it would have to spend at least in part on supporting healthcare providers who are boosting the use of telehealth services.

The U.S. Department of Agriculture would receive $100 million in grant funding designed to expand broadband access in rural areas, as well as $25 million in grants for telemedicine and distance learning in rural areas. The Secretary of Veterans Affairs would get authority to contract with telecom companies to provide mental health services for isolated veterans.

 

Stocks mentioned in the article
ChangeLast1st jan.
COMCAST CORPORATION -5.91% 34.57 Delayed Quote.-23.13%
T-MOBILE US -3.44% 81.72 Delayed Quote.4.30%
VERIZON COMMUNICATIONS -1.44% 52.77 Delayed Quote.-14.06%
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Financials (USD)
Sales 2020 134 B
EBIT 2020 31 554 M
Net income 2020 20 422 M
Debt 2020 102 B
Yield 2020 4,71%
P/E ratio 2020 10,7x
P/E ratio 2021 10,4x
EV / Sales2020 2,39x
EV / Sales2021 2,30x
Capitalization 218 B
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Technical analysis trends VERIZON COMMUNICATIONS
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 29
Average target price 61,72  $
Last Close Price 52,77  $
Spread / Highest target 32,7%
Spread / Average Target 17,0%
Spread / Lowest Target 2,33%
EPS Revisions
Managers
NameTitle
Hans Erik Vestberg Chairman & Chief Executive Officer
Matthew D. Ellis Chief Financial Officer & Executive Vice President
Kyle J. Malady Chief Technology Officer & Executive VP
Clarence Otis Lead Independent Director
Melanie Liddle Healey Independent Director
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