Verizon Communications Inc (VZ): Today's Featured Technology Winner
Verizon Communications (VZ) pushed the Technology sector higher today making it today's featured technology winner. The sector as a whole closed the day up 0.7%. By the end of trading, Verizon Communications rose 66 cents (1.7%) to $40.14 on average volume. Throughout the day, 17.5 million shares of Verizon Communications exchanged hands as compared to its average daily volume of 14.4 million shares. The stock ranged in a price between $39.40-$40.29 after having opened the day at $39.47 as compared to the previous trading day's close of $39.48. Other companies within the Technology sector that increased today were: Logitech International S.A (LOGI), up 21.4%, Recon Technology (RCON), up 21.4%, SolarWinds (SWI), up 20%, and Cirrus Logic (CRUS), up 18.6%. Verizon Communications Inc. provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. It operates in two segments, Verizon Wireless and Wireline. Verizon Communications has a market cap of $112 billion and is part of the telecommunications industry. The company has a P/E ratio of 42.5, above the average telecommunications industry P/E ratio of 42 and above the S&P 500 P/E ratio of 17.7. Shares are down 1.5% year to date as of the close of trading on Wednesday. Currently there are 12 analysts that rate Verizon Communications a buy, one analyst rates it a sell, and 17 rate it a hold. TheStreet Ratings rates Verizon Communications as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, expanding profit margins, good cash flow from operations, increase in net income and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.
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