Published: Sat, May 13, 2017
Business | By Max Garcia

Straight Path Communications (STRP) Receiving Somewhat Positive Press Coverage, AlphaOne Reports

Straight Path Communications (STRP) Receiving Somewhat Positive Press Coverage, AlphaOne Reports

Verizon Communications Inc. The company has a market cap of $187.73 billion, a PE ratio of 15.39 and a beta of 0.43. Straight Path owns 735 millimeter wave licenses in the 39 GHz band and 133 licenses in the 28 GHz band, making it one of the largest owners of licenses in that wireless spectrum. AlphaOne also assigned media headlines about the cell phone carrier an impact score of 76 out of 100, indicating that recent press coverage is likely to have an impact on the stock's share price in the near term. They now have a United States dollars 50 price target on the stock.

Shares of telecommunications companies ticked down as traders digested earnings and deal reports.

Over the last 5 years, Verizon Communications Inc. has averaged a 65.80% YoY EPS growth rate and a 2.60% revenue growth rate.

The implication is that wireless players such as Verizon and AT&T could compete with high-speed broadband provided by cable companies, with potential speeds of in excess of 1Gbps. The cell phone carrier reported $0.95 EPS for the quarter, missing analysts' consensus estimates of $0.98 by $0.03. The stock spiked 1.45% last month and is up 8.95 this year. The business had revenue of $29.81 billion for the quarter, compared to analyst estimates of $30.41 billion.

04/21/2017 - Verizon Communications Inc. had its "hold" rating reiterated by analysts at Deutsche Bank. Investors of record on Monday, April 10th were issued a $0.5775 dividend. The ex-dividend date was Thursday, April 6th. This represents a $2.31 annualized dividend and a yield of 5.02%. Verizon Communications's dividend payout ratio is now 71.74%.

Several brokerages have recently weighed in on VZ.

Boasting a price of $46.13, Verizon Communications Inc. For now, Verizon Communications the toast of Wall Street as its ABR stands at 2.70 with 2 out of 31 analysts rating the stock a buy.

The Federal Communications Commission levied a $100m fine against Straight Path, to be reduced to $15m (plus 20pc of sales from licenses) if the company could find a buyer.

Verizon Communications is buying Straight Path Communications for about $3.1 billion, ending a bidding war with AT&T over the wireless licenses company. The stock price decreased -0.78% or $0.36 versus $46.38 at the end of the prior session.

Analysts set a 12-month price target of $95.63 a share. If you are accessing this story on another publication, it was copied illegally and reposted in violation of US and global trademark and copyright legislation. The legal version of this article can be accessed at The shares were sold at an average price of $91.50, for a total transaction of $183,000.00. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Craig L. Silliman sold 610 shares of the firm's stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $89.70, for a total transaction of $325,431.60.

"The one thing that can't be denied it is now a seller's market with respect to spectrum generally", said David Tawil of Maglan Capital, which owns shares in Globalstar. The disclosure for this sale can be found here. Gierl Augustine Investment Management Inc now owns 59,937 shares of the cell phone carrier's stock valued at $3,116,000 after buying an additional 4,446 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.

On 05/03/2017, Vetr Inc. released a statement for Verizon Communications Inc. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company's segments include Straight Path Spectrum, Straight Path Ventures and Straight Path IP Group.

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