VERIZON COMMUNICATIONS INC. $52 (New York symbol VZ, Conservative Growth and Income Portfolios, Utilities sector; Shares outstanding: 4.1 billion; Market cap: $213.2 billion; Price-to-sales ratio: 1.3; Dividend yield: 4.1%; TSINetwork Rating: Average; www.verizon.com) recently completed its $130-billion purchase of the 45% of Verizon Wireless that it didn’t already own from U.K.-based Vodafone Group.
The company now owns 100% of Verizon Wireless, which sells wireless services to 104.6 million subscribers in the U.S. Wireless now supplies 68% of Verizon’s revenue. The remaining 32% comes from its 20.4 million regular phone customers and 16.2 million high-speed Internet and digital TV subscribers. Thanks mainly to the Verizon Wireless purchase, the company’s earnings per share jumped 24.7% in the three months ended June 30, 2014, to $0.91 from $0.73 a year earlier. Revenue gained 5.7%, to $31.5 billion from $29.8 billion.
The company should earn $3.54 a share in 2014, and the stock trades at 14.7 times that forecast. The $2.12 dividend yields 4.1%.
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