Verizon Back to Adding Postpaid Phone Subscribers; Maintaining Our $48 FVE
Verizon reported second-quarter results that were reasonably in line with our expectations, and we are maintaining our $48 fair value estimate and narrow moat rating. After the stock’s 6% jump on solid earnings, we believe the shares are fairly valued. Reported revenue was roughly flat year over year. On an organic basis, excluding the impact from the XO Communications and Yahoo acquisitions and the data center divestiture to Equinix, revenue fell 2% year over year, primarily due to the steep de...Verizon Communications is a holding company. Through its subsidiaries, the company provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The company has two reportable segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business). The company's Consumer segment provides consumer-focused wireless and wireline communications services and products under the Verizon brand and through wholesale and other arrangements. The company's Business segment provides, among others, wireless and wireline communications services and products, video and data services, corporate networking solutions, security and managed network services.
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Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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