Amid Q2 Earnings, Verizon Stock Needs to Do This 1 Thing to Get Back on Track
On paper, Verizon Communications (NYSE: VZ) stock should look like a slam-dunk buy, considering its market positioning and low valuation. Verizon is one of only three nationwide 5G providers in the U.S., and given the cost to build such a network, it is unlikely that new competitors will enter the market.
Shares also sell at a price-to-earnings (P/E) ratio of only about 15. Considering the importance of wireless communications in everyday life, a longtime emphasis on quality, and its increasing role in supporting artificial intelligence (AI), Verizon controls its destiny.
Unfortunately, the race to keep up with AT and T-Mobile left Verizon with a total debt of $149 billion, and the company has made very little progress in reducing that burden. Hence, until it makes one critical move, the telecom stock will probably continue to suffer.
Source Fool.com
Verizon Communications Inc. Stock
We see a rather positive sentiment for Verizon Communications Inc. with 20 Buy predictions and 1 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 11.07% for Verizon Communications Inc. compared to the current price of 37.82 €.
