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- 1 Verizon ($VZ) stock declined nearly 5% in one month while the year-to-date drop is 6%.
- 2 Verizon stock is one of the highest dividend-paying stocks in the S&P 500, with 6.84%.
Verizon Communications Inc. (NYSE: VZ) Verizon Stock price has decreased nearly 4% in the recent 4 days, dropping from $38.66 to $37.35. Similar stocks such as AT&T Inc. (NYSE: T), Johnson & Johnson (NYSE: JNJ), and Apple Inc (NASDAQ: AAPL) have also declined nearly 1%, 0.45%, and 1%, respectively, in one day.
The total revenue of VZ for Q1 2023 is $32.91 Billion, and it’s 6.64% lower compared to the previous quarter. The net income of Q1 23 is $4.91 Billion. Verizon Communications paid quarterly dividends, and its last dividend per share was $0.65.
VZ EPS for Q1 2023 is $1.20, whereas the estimation was $1.19, which accounts for a 0.52% surprise. Its revenue for the same period amounts to $32.91 Billion despite the estimated figure of $33.57 Billion. For Q2 2023, the estimated EPS is $1.17, and revenue is expected to reach $33.66 Billion.
Verizon (NYSE: VZ) Stock Price Analysis
According to the data sourced from Tradingview, VZ stock price showed a bearish trend on its May 4th trading session, while the stock showed a 1.66% drop in the last 24 hours. Verizon stock closed at $37.35 and showed a bearish outlook. The pre-market price of VZ stock is showing at the $37.40 level, which is quite bullish. Meanwhile, per the recent price analysis of VZ stock, there are active bears in the market.
With the dominance of bears in the market, the price of Verizon stock dropped from its 20-day EMA in just one day. After the release of Verizon Communications’ Q1 2023 results, the stock price jumped nearly at $38.00. Then, the price started declining from the beginning of this month and reached nearly $37.00. It must be noted that the 52-week low of VZ stock was at $34.55, while the 52-week high was at $52.18.
The RSI of VZ stock further showed a downtrend and seems like proceeding toward the oversold soon. As the bulls slept, the bears showed dominance and took the stock price downward.
The price target of VZ stock is at $42.10, which analysts set, however, the price target is nearly 12% up from its recent closing price. Moreover, the analysts have set their 1-year price target for Verizon stock with a higher estimate of $51.00 and a lower estimate of $37.00.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
