Verizon To Tie Up With Charter: The Truth Behind The Rumor

Charter shares up on report of possible Verizon takeover

Verizon stocks dipped while Charter's jumped almost 9 percent Thursday on a report that Verizon CEO Lowell McAdam has put out feelers around a potential deal with the cable company. The investment management company now holds a total of 4,068,468 shares of Verizon Communications in its fund, which is valued at $202,487,652 after selling 495,000 shares in Verizon Communications. That deal has been held up by disclosures of two major security breaches at Yahoo. Although Trump has spoken out against AT&T's proposed merger with Time Warner, industry observers now believe that transaction will ultimately be approved. The company has a market cap of $202,894 million and the number of outstanding shares has been calculated to be 4,076,634,000 shares.

He added that so far news reports haven't focused on whether the merger would make financial sense.

Verizon's traditional wireless business has been losing customers to smaller rivals T-Mobile U.S. Inc and Sprint Corp and the company has been looking to diversify its revenue stream. TMUS and Sprint Corp. The company is expected to release $1.01 EPS for current quarter according to 18 analysts whereas the company reported $1.06 EPS during same quarter a year ago.

Along with these its year to date performance is standing at 15.71%.

With more than 114 million wireless subscribers, Verizon's customers would join the 17 million customers subscribed to Charter's TV services, and 21 million hooked up to its internet connections. Charter is the third-largest pay TV provider behind DirecTV and Comcast.

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Verizon Communications (VZ) stock edged up on Friday while shares of Charter Communications (CHTR) slipped, as some analysts threw cold water on any possible merger of the companies.

Both Verizon and Charter face challenges to their core businesses.

Additionally, a Charter acquisition would give Verizon the opportunity to step on some of the landline footprint of its biggest telecom competitor, AT&T. 5G services require connections to fiber-optic networks in dense urban areas.

The Journal's report comes on the heels of a similar report last week by the New York Post, claiming that Verizon was eyeing a Charter or Comcast deal. Nevertheless, Verizon has a very powerful diversified business model. The Company offers voice, data and video services and solutions on its wireless and wireline networks. The stock is now trading with a distance of 20-Day Simple Moving Average (SMA20) of -5.74%. Verizon Communications Inc. are listed in the Public Utilities sector within NYSE. GW Henssler & Associates Ltd. now owns 33,759 shares of the cell phone carrier's stock worth $1,755,000 after buying an additional 1,557 shares during the last quarter. Plus, you can access the list of portfolio-killing Zacks Rank #5 "Strong Sells" and other private research. The stock has earnings growth of 54.00% yoy and showed a low EPS growth of -6.50% over the past five years.

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