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Verizon - dividendincomestocks.com
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Jan 232012
 

Verizon logo Dog of the Dow #2, Verizon (VZ)

The #2 dog of the dow for 2012 is Verizon Communications, (Ticker symbol VZ).  Verizon is a 110 billion dollar cap company, making it one of the largest in the United States, though worth about 70 billion less than ATT. The company began its existence as Bell Atlantic in 1983, when the Bells were forced to split. Over time, they have bought back many of the “baby bells” much like ATT, and after a merger with GTE in the year 2000, the company changed its name to Verizon from Bell Atlantic.  At that time, their ticker symbol also changed from BEL to VZ.

The company originally specialized in local and long distance phone calls via landlines. Verizon still currently has 140 million landline accounts.  However, after the merger with GTE, they now own 55% of a company now known as Verizon Wireless.  The merger with GTE was one of the largest ever in history, 52 billion dollars.

VZ stock price has never really recovered from the glory days of the late 1990’s. Verizon’s stock (known as BEL during that time), was up to values close to 67 bucks a share.  After April 2000, the stock never saw 60 dollars again, and after 2001, it has never seen 50 dollars a share.  However since 2001, the dividend has gone up from 38.5 cents a share a quarter to 50 cents a share a quarter. Its current dividend yield is 5.13%.

VZ earnings were $2.17 a share for 2011, and are estimated to be $2.53 for 2012. This equates to an average P/E ratio of just under 18.

My unofficial estimate is that VZ just does not have the sales and income gains to even make the EPS reports that are coming out currently and will not gain value during 2012, and may actually lose value during the year.  VZ will finish 2012 at around $37 a share.

Go back to my original post for 2012 Dogs of the Dow. 2012 Dogs of the Dow

Disclosure: I do not own any shares of VZ, nor do I plan to purchase any.

Dog of the Dow #2 Verizon, Originally posted January 23, 2012.

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