Verizon Communications Inc. is a company that provides various products and services related to communications, information, and entertainment. The VZ stock has a CMP of $31.45 and an intraday gain of 1.94%.
The VZ stock’s average volume for the last 10 days is 22.35 Million and its current volume is 20.344 Million. The VZ stock has a float of 4.203 Billion shares and a market cap of $132.217 Billion.
Verizon stock’s latest quarterly balance sheet for the period ending June 2023 reported total assets of $379.95 Billion and total liabilities of $283.45 Billion. The debt-to-assets ratio is at 74.60%.
The VZ latest quarterly earnings report for the period ending June 2023, displayed a revenue of $32.60 Billion, with a net income of $4.65 Billion, and a loss in profit margin from the last quarter of 14.26%. This quarter, the reported revenue missed analysts’ estimates by $702.563 Million (2.11%).
Moreover, the VZ stock reported an EPS of $1.21 for the period ending June 2023, beating the analysts’ estimate of $1.166 by 0.044%. The VZ next quarter’s revenue is estimated to be $33.298 Billion and the estimated EPS of $1.182. The report will be released on October 24, 2023.
The VZ stock dividend yield for the TTM is 8.30% and its last dividend payment was $0.67 per share. The last ex-dividend date was October 6th, 2023 and its payout ratio is 52.22%.
VZ Stock Price Technical Analysis in 1-D Timeframe
The VZ stock price had some setbacks and constant selling pressure on multiple earnings. The dividends could not overcome them and it seemed that people were losing interest. It showed a poor performance by declining from November 2020 to the last 3 years. The stock is at support of $30 and trying to hold on.
Therefore, if Verizon stock manages to gain strong buying momentum and surges above the swing high, it can trigger a threat for investors by giving a big upmove. The probable resistance levels are between $35 and $38.
Alternatively, if the stock faces resistance again and continues to fall below $30, then it can fall up to $26.
At the time of publishing, the price of Verizon Communications Inc. (NYSE: VZ) is trying to sustain, despite the bearish EMAs. If there is more buying pressure from the immediate support, surges in VZ price might conquer; rejecting EMAs as well.
The MACD indicates a bearish cross and might show a bullish cross next as the histogram is getting stagnant and may soon start to converge as well. The RSI is at 35 and the curve is approaching to cut below the 14 SMA. The indicators in the VZ stock suggest bullish signs on the charts.
Moreover, the stock ratings for VZ stock are neutral and not highly recommended based on 26 analysts who have evaluated the stock in the last three months. The 1-year price forecast for the stock by 22 analysts ranges between $31.74 to $45.00.
Summary
Verizon Communications Inc. (NYSE: VZ) chart indicates that the traders and investors of the stock price are bullish and positive on the 1-D time frame. The price action shows a bullish outlook at the time of publishing. The technical analysis tools of the Verizon stock price such as EMA, RSI, and MACD highlight upward signals and support bullishness.
Technical Levels
Support Levels: $30 and $26
Resistance Levels: $35 and $38
Disclaimer
In this article, the views and opinions stated by the author, or any people named are for informational purposes only, and they don’t establish the investment, financial, or any other advice. Trading or investing in cryptocurrency assets comes with a risk of financial loss.
