Verizon Shares Fall Despite Climb in Wireless Revenue. Is It Time to Buy the Stock on the Dip?
Shares of Verizon Communications (NYSE: VZ) were falling after the wireless company reported mixed second-quarter earnings results. Its stock remains up more than 20% over the past year, but it is now up only modestly year to date, underperforming the strong year-to-date performance of the S 500.
Let's take a closer look at Verizon's most recent results, its valuation and dividend, and whether now is a good time to buy the stock on this recent dip.
For the second quarter, Verizon saw its revenue rise 0.6% to $32.8 billion, while its adjusted earnings per share (EPS) fell from $1.21 a year ago to $1.15. Its adjusted EPS came in line with analyst expectations, while revenue came up short of the $33.1 billion consensus. Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) edged up 2.5% to $12.3 billion.
Source Fool.com
Verizon Communications Inc. Stock
The stock is one of the favorites of our community with 23 Buy predictions and 1 Sell predictions.
With a target price of 42 € there is a slightly positive potential of 13.7% for Verizon Communications Inc. compared to the current price of 36.94 €.
