Responding to the gravity of the situation induced by the coronavirus pandemic, Verizon Communications Inc. (VZ - Free Report) recently announced that it provided seamless connectivity to a Mercy-class hospital ship of the United States Navy, USNS Comfort. Catering to the mission-critical technology requirements of various federal agencies, the move underscores Verizon’s commitment to deploy its cutting-edge fiber optic and wireless networks during this coronavirus-induced crisis, which is currently crippling economic and health infrastructure globally.
Equipped with nearly 1,000 hospital beds and a pharmacy, USNS Comfort is a gigantic hospital ship that provides on-site and dedicated emergency services to the combatant forces deployed in war or some other critical operations. In order to ease the pressure on public health institutions, Verizon provided seamless networking facilities to the naval ship with the help of a reliable and secure circuit. This, in turn, helped health care workers to stay connected to patients and on-premise lab results that are useful for medical diagnosis. Currently docked in New York City, the floating medical treatment facility is currently serving as a referral hospital for non-COVID-19 patients.
The tech behemoth continues to provide its dedicated support to first responders and government agencies with 24x7 connectivity and streamlined networking infrastructure so that they can communicate effectively not only within their departments but also with other hospitals. To add to that, Verizon is also collaborating with various public and private health care agencies to deliver innovative solutions that will enable health care professionals to undertake COVID-19 testing through connected technologies, such as smartphones and mobile hotspots.
Notably, the much-acclaimed unit of Verizon — Verizon Response Team — which provides round the clock emergency services to various non-profit organizations (NGOs) and government agencies, continues to establish additional call centers and devise secure work-from-home strategies to prioritize network demand and ensure continuity of operations for customers. The telecom forerunner has also committed to donate $10 million to these NGOs, which are directed at supporting students and first responder healthcare workers.
Considered to be one of the world’s leading communications services providers, the company has a track record of helping the American communities with dedicated emergency services. Verizon is coordinating with various law enforcement agencies to deploy portable cell sites across multiple quarantine areas, Emergency Operation Centers and mobile testing sites nationwide. Currently leading with nearly 160 engagements of setting up free charging stations and WiFi hotspots, Verizon is focused on leveraging these platforms to boost network performance and reinforce unprecedented voice responsive services to help customers and first responders manage incoming calls amid this pandemic.
With one of the most efficient wireless networks in the United States, Verizon deploys state-of-the-art technologies to solve complex business challenges and deliver increased capacity, lower latency and faster speeds, backed by customer-focused planning, disciplined engineering and strategic investments. Seeking competitive edge in a saturated and price-sensitive market, which includes major players like AT&T Inc. (T - Free Report) and T-Mobile US, Inc. (TMUS - Free Report) , the company aims to retain its lead in promulgating next-gen 5G mobile networks nationwide by using virtualized machines and advanced levels of operational automation, which are likely to reinforce its market position while stoking growth.
With a forward P/E ratio of 10.9, Verizon has long-term earnings growth expectation of 3.4%. The Zacks Rank #3 (Hold) stock has lost 8.2% compared with the industry’s decline of 3.7% in the past year.
A better-ranked stock in the industry is Telenav, Inc. (TNAV - Free Report) , carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Telenav has a trailing four-quarter positive earnings surprise of 77.1%, on average.
Today's Best Stocks from Zacks
Would you like to see the updated picks from our best market-beating strategies? From 2017 through 2019, while the S&P 500 gained and impressive +53.6%, five of our strategies returned +65.8%, +97.1%, +118.0%, +175.7% and even +186.7%.
This outperformance has not just been a recent phenomenon. From 2000 – 2019, while the S&P averaged +6.0% per year, our top strategies averaged up to +54.7% per year.
See their latest picks free >>