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Verizon Communications Inc (NYSE:VZ) At $39.91: What To Do?

In last trading session, Verizon Communications Inc (NYSE:VZ) saw 19.44 million shares changing hands with its beta currently measuring 0.39. Company’s recent per share price level of $39.91 trading at -$0.51 or -1.26% at ring of the bell on the day assigns it a market valuation of $167.79B. That closing price of VZ’s stock is at a discount of -8.27% from its 52-week high price of $43.21 and is indicating a premium of 24.48% from its 52-week low price of $30.14. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 21.33 million shares which gives us an average trading volume of 21.47 million if we extend that period to 3-months.

Verizon Communications Inc (NYSE:VZ) trade information

Upright in the red during last session for losing -1.26%, in the last five days VZ remained trading in the red while hitting it’s week-highest on Friday, 02/02/24 when the stock touched $39.91 price level, adding 6.03% to its value on the day. Verizon Communications Inc’s shares saw a change of 5.86% in year-to-date performance and have moved -6.07% in past 5-day. Verizon Communications Inc (NYSE:VZ) showed a performance of 2.23% in past 30-days. Number of shares sold short was 45.62 million shares which calculate 2.04 days to cover the short interests.

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Verizon Communications Inc (VZ) estimates and forecasts

Statistics highlight that Verizon Communications Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 22.01% of value to its shares in past 6 months, showing an annual growth rate of -2.55% while that of industry is 14.60. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. The company is estimating its revenue growth to decrease by -6.70% in the current quarter and calculating -5.80% decrease in the next quarter. This year revenue growth is estimated to rise 1.50% from the last financial year’s standing.

13 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $33.41 billion for the same. And 12 analysts are in estimates of company making revenue of $33.15 billion in the next quarter that will end on Jun 2024. Company posted $32.91 billion and $32.6 billion of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to grow by 1.50% while estimating it to be 1.70% for the next quarter.

Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -6.06% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -2.43% while estimates for its earnings growth in next 5 years are of 1.47%.

VZ Dividends

Verizon Communications Inc is more likely to be releasing its next quarterly report on April 22 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.

Verizon Communications Inc (NYSE:VZ)’s Major holders

Insiders are in possession of 0.03% of company’s total shares while institution are holding 61.97 percent of that, with stock having share float percentage of 61.99%. Investors also watch the number of corporate investors in a company very closely, which is 61.97% institutions for Verizon Communications Inc that are currently holding shares of the company. Vanguard Group Inc is the top institutional holder at VZ for having 350.69 million shares of worth $13.04 billion. And as of Jun 29, 2023, it was holding 8.34% of the company’s outstanding shares.

The second largest institutional holder is Blackrock Inc., which was holding about 339.01 million shares on Jun 29, 2023. The number of shares represents firm’s hold over 8.06% of outstanding shares, having a total worth of $12.61 billion.

On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Jun 29, 2023, the former fund manager was holding 118.04 million shares of worth $4.39 billion or 2.81% of the total outstanding shares. The later fund manager was in possession of 100.09 million shares on Jun 29, 2023, making its stake of worth around $3.72 billion in the company or a holder of 2.38% of company’s stock.

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