VERIZON COMM (VZ)
 
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Consensus Forecasts   Provided by zacks.com
Wireline – Consensus Forecasts of Wireline Revenue in Millions help
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E Annualized Growth

Dec-05

Dec-06

Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

12/05
$37,616.0 $49,504.0 $49,129.0 $48,266.2 $46,080.0 $44,298.6 $43,377.5 $43,094.2 2.0%
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Domestic Wireless – Consensus Forecasts of Domestic Wireless Revenue in Millions help
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E Annualized Growth

Dec-05

Dec-06

Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

12/05
$32,301.0 $38,043.1 $43,882.0 $49,332.0 $62,131.0 $64,356.9 $67,127.1 $70,750.5 11.9%
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Other – Consensus Forecasts of Other Revenue in Millions help
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E Annualized Growth

Dec-05

Dec-06

Dec-07

Dec-08

Dec-09

Dec-10

Dec-11

Dec-12

12/05
($652.0) ($556.0) ($636.3) ($450.9) ($403.0) ($418.9) ($397.9) ($382.2) -7.3%
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EPS FORECASTS

This section is designed to find errors as the consensus forecast of EPS. The consensus forecasts for the lines in the VERIZON COMM Income Statement are shown and below each consensus forecast is a wiki section to discuss why the consensus forecast of that item may be high or low


Consensus Forecasts of Total Revenuehelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E Annualized Growth
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12 12/05
1. Total Revenue $74,910.0 $86,991.0 $92,376.9 $97,178.1 $107,807.6 $108,384.1 $110,388.5 $113,386.4 6.1%
Discussion by Wiki Users

  Management expects total revenue to increase 4.0%-8.0% year over year in FY11, as a result of continued strength in wireless due to increased smartphone penetration as well as stabilization of wireline business owing to strong enterprise strategic services and FiOS services.

For 4Q11, the Company expects smartphone sales to be strong, driven by iPhone 4S and LTE devices that would lead to acceleration of subscriber growth and increased ARPU. With respect to prepaid, Verizon rolled out its $50 unlimited prepaid plan in mid-September, which would increase prepaid additions.

As of October 20, Verizon deployed 4G LTE services in 165 markets, covering 186 million people. With this, the Company surpassed its FY11 target to cover 185 million people by the end of FY11.

On the wireline side, Verizon continues to enhance its FiOS penetration (FiOS Internet and FiOS TV services) progressively across all markets. Verizon cleared the FiOS installation backlog, which stemmed from the severe storm in the East Coast and the 14-day labor strike. The firms believe this move would add 200,000 subscribers in each FiOS TV and FiOS Internet services in 4Q11. As global business markets are showing signs of stabilization, the firms believe Verizon will drive wireline revenue growth and margin expansion based on FiOS services, enterprise strategic services as well as cost-reduction efforts.

 


Last edited Fri Dec 16, 2011 12:48 AM
by SreelaBose (Zacks Investment Research)		make a comment about Discussion by Wiki Users


Consensus Forecasts of Fully Diluted Shares Outstandinghelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
Fully Diluted Shares Outstanding 2817.1 2936.7 2901.6 2850.5 2840.3 2837.2 2834.3 2837.6
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Consensus Forecasts of GAAP EPShelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
GAAP EPS $2.7 $2.1 $1.9 $2.3 $1.3 $1.8 $2.4
Discussion by Wiki Users

 Despite the 3Q11 pressure from the storms and the strike and the dilution associated with the subsidization of the iPhone, Verizon is on track to generate FY11 EPS growth of 5.0NaV year over year.

According to the firms, the migration of data traffic from 3G to 4G network would enhance the company’s operating efficiency and will help to drive improved returns going forward.

The firms expect net income to increase 5.7% in FY11, 16.2% in FY12, and 12.4% in FY13, with an increasing three-year CAGR (2010–2013) of 11.4%. The firms expect diluted shares outstanding to increase 0.2% in FY11 and then remain flat in FY12 and FY13, with a three-year CAGR (2010–2013) of 0.1%.

 


Last edited Fri Dec 16, 2011 12:50 AM
by SreelaBose (Zacks Investment Research)		make a comment about Discussion by Wiki Users


Consensus Forecasts of Cost of Goods Soldhelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
2. Cost of Goods Sold $25,396.0 $34,802.0 $37,090.0 $38,823.4 $42,634.1 $43,053.9 $44,050.9 $45,697.5
Percent of Revenue 34% 40% 40% 40% 40% 40% 40% 40%
3. Gross Profit (1-2) $49,514.00 $52,189.00 $55,286.90 $58,354.70 $65,173.50 $65,330.20 $66,337.60 $67,688.90
Percent of Revenue 66% 60% 60% 60% 60% 60% 60% 60%
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Consensus Forecasts of Selling, General and Administrative Expensehelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
4. Selling, General and Administrative Expense $20,997.0 $23,886.0 $24,620.0 $25,723.0 $29,542.8 $29,709.5 $30,272.1 $31,082.3
Percent of Revenue 28% 27% 27% 26% 27% 27% 27% 27%
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Consensus Forecasts of Interest Income/(Expense)help
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
6. Interest Income/(Expense) $2,180.0 $2,323.0 $1,829.0 $1,819.0 $2,877.0 $2,646.1 $2,447.5 $2,120.0
Percent of Revenue 3% 3% 2% 2% 3% 2% 2% 2%
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Consensus Forecasts of Pre - Tax Incomehelp
2005A 2006A 2007A 2008A 2009E 2010E 2011E 2012E
Dec-05 Dec-06 Dec-07 Dec-08 Dec-09 Dec-10 Dec-11 Dec-12
7. Pre - Tax Income $8,195.0 $9,021.0 $10,641.0 $11,032.0 $10,172.0 $9,527.8 $10,253.7 $10,358.5
8. Tax provisions $2,415.0 $3,000.0 $3,775.5 $3,740.4 $3,131.2 $3,837.5 $3,806.8 $3,824.0
Percent of Revenue 29% 33% 35% 34% 31% 40% 37% 37%
9. Net Income (7-8) $5,780.00 $6,021.00 $6,865.50 $7,291.60 $7,040.80 $5,690.30 $6,446.90 $6,534.50
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INDUSTRY COMPARABLES

Revenue (mil)

Net Income (mil)

ROE

EPS Gr 5Yr Est

P/E F1

P/Sales

P/CF

VZ (VERIZON COMM)

$108,130.00

 $2,415.00

 7.9%

 5%

 12.13

 0.7

 3.3

Industry Mean

12%

5%

10.72

1.1

3.3
S&P 500

23%

11%

13.71

1.9

DT (DEUTSCHE TELEKM)

$93,263.00

$3,451.91

6.1%

-5%

12.10

0.5

2.3

NTT (NIPPON TELE-ADR)

$115,600.00

$6,433.83

6.4%

10.29

0.5

1.9

T (AT&T INC)

$123,096.00

$11,884.00

12.7%

5%

10.72

1.2

4.5

CF is operating cash flow plus after-tax interest expense.
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Created by: WikiMigrationBot. Last Modification: Thursday 03 of June, 2010 09:07:55 CDT by WikiMigrationBot.