Verizon Communications Inc. (NYSE:VZ) shares, rose in value on Wednesday, 05/24/23, with the stock price down by -1.02% to the previous day’s close as strong demand from buyers drove the stock to $35.87.
Actively observing the price movement in the last trading, the stock closed the session at $36.24, falling within a range of $35.85 and $36.25. The value of beta (5-year monthly) was 0.34 whereas the PE ratio was 6.99 over 12-month period. Referring to stock’s 52-week performance, its high was $52.18, and the low was $34.55. On the whole, VZ has fluctuated by -3.83% over the past month.
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With the market capitalization of Verizon Communications Inc. currently standing at about $151.13 billion, investors are eagerly awaiting this quarter’s results, scheduled for Jul 25, 2023. The company’s Forward Dividend Ratio is 2.61, with its dividend yield at 7.28%. As a result, investors might want to see an improvement in the stock’s price before the company announces its earnings report. Analysts are projecting the company’s earnings per share (EPS) to be $1.17, which is expected to increase to $1.22 for fiscal year $4.69 and then to about $4.7 by fiscal year 2024. Data indicates that the EPS growth is expected to be -9.50% in 2024, while the next year’s EPS growth is forecast to be 0.20%.
Analysts have estimated the company’s revenue for the quarter at $33.67 billion, with a low estimate of $33.23 billion and a high estimate of $34.75 billion. According to the average forecast, sales growth in current quarter could jump down -0.40%, compared to the corresponding quarter of last year. Wall Street analysts also predicted that in 2024, the company’s y-o-y revenues would reach $135.54 billion, representing a decrease of -0.90% from the revenues reported in the last year’s results.
Revisions could be a useful indicator to get insight on short-term price movement; so for the company, there were no upward and no downward review(s) in last seven days. We see that VZ’s technical picture suggests that short-term indicators denote the stock is a 100% Sell on average. However, medium term indicators have put the stock in the category of 100% Sell while long term indicators on average have been pointing out that it is a 100% Sell.
The stock’s technical analysis shows that the PEG ratio is about 0, with the price of VZ currently trading nearly -3.79% and -5.28% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 34.06, while the 7-day volatility ratio is showing 1.60% which for the 30-day chart, stands at 1.71%. Furthermore, Verizon Communications Inc. (VZ)’s beta value is 0.35, and its average true range (ATR) is 0.61. The company’s stock has been forecasted to trade at an average price of $41.98 over the course of the next 52 weeks, with a low of $37.00 and a high of $51.00. Based on these price targets, the low is -3.15% off current price, whereas the price has to move -42.18% to reach the yearly target high. Additionally, analysts’ median price of $41.50 is likely to be welcomed by investors because it represents a decrease of -15.7% from the current levels.
A comparison of Verizon Communications Inc. (VZ) with its peers suggests the former has fared considerably weaker in the market. VZ showed an intraday change of -1.02% in last session, and over the past year, it shrunk by -27.78%%. In comparison, Apple Inc. (AAPL) has moved higher at 0.16% on the day and was up 20.08% over the past 12 months. On the other hand, the price of AT&T Inc. (T) has fallen -0.93% on the day. The stock, however, is off -23.10% from where it was a year ago. Additionally, there is a loss of -0.97% for T-Mobile US Inc. (TMUS) in last trading while the stock has seen an overall depriciation of 7.78%% over the past year. The PE ratio stands at 6.99 for Verizon Communications Inc., compared to 29.19 for Apple Inc. Other than that, the overall performance of the S&P 500 during the last trading session shows that it lost -0.73%. Meanwhile, the Dow Jones Industrial Slipped by -0.77%.
Data on historical trading for Verizon Communications Inc. (NYSE:VZ) indicates that the trading volumes over the past 10 days have averaged 17.05 million and over the past 3 months, they’ve averaged 18.82 million. According to company’s latest data on outstanding shares, there are 4.21 billion shares outstanding.
Nearly 0.03% of Verizon Communications Inc.’s shares belong to company insiders and institutional investors own 63.80% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 43.68 million shares as on Apr 27, 2023, resulting in a short ratio of 2.35. According to the data, the short interest in Verizon Communications Inc. (VZ) stood at 1.04% of shares outstanding as of Apr 27, 2023; the number of short shares registered in Mar 30, 2023 reached 34.73 million. The stock has fallen by -8.96% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the VZ stock heading into the next quarter.