The Company provides telephone services, including local network, network access, long distance network and directory services, to customers in the towns of Warwick, Goshen and Wallkill, New York, and the townships of West Milford and Vernon, New Jersey.
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This stock does not deserve such a high P/E ratio. It has no future prospects. Verizon should be able to come in and kill it whenever it chooses. If it drops 40% or 50% it could be a takeover candidate.
They are still living in the 1950's. Ever since they fired Larry Drake they have gone into the toilet!
First off, nobody wants to takeover a local exchange carrier because there is no money in the shrinking land-line business; however, if that takeover would include their 8.108% interest in O-P Partnership’s Capital, then it might be worth it for a takeoever. Also WWVY has agreed to sell its share in that entity for a very profitable sum three years from now. Hopefully, the proceeds from that sale will be passed on to the stockholders which could result in a one-time payout of $30.00 per share. So, my advice is "buy and hold" because the dividend is rock-solid because of the income from the limited partnership and the potential for a very large payout is looming in the near future. Do your homework on this one!