Solid News

Verizon Communications Inc. Market Update

8/25/2022 4:06 PM

The stocks of the American telecommunications company Verizon Communications Inc. continue to trade in a global corrective trend near the 43.00 mark after the publication of a weak financial report and downgrades from leading agencies.

So, in Q2, the company showed revenue of 33.79B dollars, which only slightly exceeded the consensus estimate of 33.74B dollars, but earnings per share amounted to 1.31 dollars, which is lower than 1.35 dollars a quarter earlier. Against the background of weak indicators, analysts of Morgan Stanley financial holding assessed the growth prospects of Verizon Communications Inc. shares as weak and lowered the target price to 58.0 dollars from 62.0 dollars earlier. MoffettNathanson analysts also downgraded the company's rating to "Underperform" from "Market Perform", adjusting the target price to 41.0 dollars from 55.0 dollars earlier.

In early September, the board of directors of Verizon Communications Inc. will announce another 2.0% increase in dividends, which currently amount to 0.64 dollars. The last payment took place on August 1, when the yield was a high 4.97% per annum. Taking into account the new adjustment, it may reach 5.8%, which will make the company one of the leaders of the American stock market in this indicator.

The quotes of the asset continue to trade within the global descending channel, falling down in the direction of the support line. Technical indicators hold a stable sell signal: the range of EMA fluctuations on the alligator indicator is still quite wide, and the histogram of the AO oscillator forms bars with a downward trend.      

Support levels: 43.20, 41.00. | Resistance levels: 44.50, 46.30.

Find Us
First Floor, First St Vincent Bank LTD Building James Street Kingstown St Vincent and the Grenadines
Call Us
+1 415 367 3742

Solid ECN Securities is an international brand formed and authorized in Saint Vincent and the Grenadines with the registration number 1390 LLC 2021 committed to offering the best possible trading experience. Disclosure: Please note that foreign exchange and other leveraged trading involve a significant risk of loss. It is not fit for all investors and you should make sure you realize the risks involved, seeking independent advice if necessary.
Solid ECN Securities and it affiliates don't accept applications from Indonesia, Egypt, Australia, Bonaire, CuraƧao, East Timor, Liberia, Saipan, Russia, Sint Eustatius, Tahiti, Turkey, Guinea-Bissau, South Sudan and other restricted countries.
Copyright All Right Reserved 2023