S&P Capital IQ Reiterates its HOLD Rating on Verizon Communications

October 24 00:00 2011

New York, October 24 (RainbowNewsLine.com) – Analyst Todd Rosenbluth of S&P Capital IQ reiterates his HOLD rating on the shares of Verizon Communications (NYSE:VZ).

Analyst Todd Rosenbluth, in a research note published on October 22, mentions that the company reported its Q3 EPS in line with the estimates and the consensus. According to the analyst, the revenues were inline driven by the continuous growth of wireless service. The company’s Wireless EBITDA margins grew substantially, despite the tough competition and subsidy programs, the analyst says. The analyst believes that there would be an improvement in Q4 EPS even after the one-time storm related impacts on EBITDA. The company’s CAPEX was lower in Q3, indication free cash flow growth that would lead to increase in future dividend, the analyst adds.