Is Verizon Communications Inc (NYSE: VZ) Stock Set To Rise More?

In the last trading session, 15.06 million Verizon Communications Inc (NYSE:VZ) shares changed hands as the company’s beta touched 0.39. With the company’s per share price at $40.10 changed hands at $0.38 or 0.96% during last session, the market valuation stood at $168.58B. VZ’s last price was a discount, traded about -7.76% off its 52-week high of $43.21. The share price had its 52-week low at $30.14, which suggests the last value was 24.84% up since then. When we look at Verizon Communications Inc’s average trading volume, we note the 10-day average is 19.74 million shares, with the 3-month average coming to 0.70.

Verizon Communications Inc (NYSE:VZ) trade information

Instantly VZ was in green as seen at the end of in last trading. With action -3.09%, the performance over the past five days has been red. The jump to weekly highs of 41.57 added 0.96% to the stock’s daily price. The company’s shares are showing year-to-date upside of 6.37%, with the 5-day performance at -3.09% in the red. However, in the 30-day time frame, Verizon Communications Inc (NYSE:VZ) is 5.80% up. Looking at the short shares, we see there were 50.34 million shares sold at short interest cover period of 2.02 days.

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Verizon Communications Inc (VZ) estimates and forecasts

Data shows that the Verizon Communications Inc share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 20.20% over the past 6 months, a -2.55% in annual growth rate that is considerably lower than the industry average of 14.60%. Moreover, analysts have looked to lower expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for Verizon Communications Inc will fall -6.70%, while the growth in revenue is estimated to hit -5.80% for the next quarter. Year-over-year growth is forecast to reach 1.50% up from the last financial year.

Consensus estimates given by 13 financial analysts project the company’s revenue in the current quarter to hit an average of $33.41 billion. 12 analysts are of the opinion that Verizon Communications Inc’s revenue for the quarter ending Jun 2024 will be $33.15 billion. The company’s revenue for the corresponding quarters a year ago was $32.91 billion and $32.6 billion respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1.50%. The estimates for the next quarter sales put growth at 1.70%.

Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of -6.03%. The 2024 estimates are for Verizon Communications Inc earnings to decrease by -2.43%, but the outlook for the next 5-year period is at 1.47% per year.

VZ Dividends

Verizon Communications Inc is expected to release its next quarterly earnings report on April 22. The 6.57% annual yield figure for the share gives it an annual dividend of 2.63. It is important to note, however, that the 6.57% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

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