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Verizon Communications Inc.,High Prospects for Continued Growth of Quotations

12/19/2022 2:39 PM

The stocks of one of the largest American telecommunications companies, Verizon Communications Inc., continue to trade in a global corrective trend near the 37.00 mark.

While almost the entire high-tech market is under pressure, analysts are beginning to single out companies from an extensive list whose shares are trading at attractive levels for purchase, including Verizon Communications Inc. Analysts of Morgan Stanley financial holding updated the issuer's rating, setting it at the "overweight" level, and the target price was changed from 41.0 dollars to 44.0 dollars per share. In the accompanying statement, experts noted that after the decline in productivity, the stocks are trading at attractive lows for purchase, especially since the forecasts for 2023 expect an increase in indicators. 

The company's financial report will be published on January 24, and, according to preliminary estimates, revenue may amount to 35.30B dollars, which is higher than 34.24B dollars in the previous quarter, and earnings per share are expected to be within 1.2 dollars, which is lower than the annual average of 1.3 dollars.

Verizon Communications Inc. continues to pay one of the highest dividends on the market, which on November 1 amounted to 6.62% per annum. The new payout is scheduled for February 1 and will reach 0.6525 dollars per share, which corresponds to a record yield of 7.03%. 

On the daily chart, quotes continue to trade within the correction channel, reaching the support line.

Technical indicators still hold the sell signal, despite the low trading activity: the range of EMA fluctuations on the alligator indicator is quite narrow, and the histogram of the AO oscillator forms bars with a downward trend, being in the sales zone.      

Support levels: 36.60, 35.00. | Resistance levels: 38.50, 41.00.

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