Why Verizon Stock Is Gaining Today
(NYSE: VZ) stock is climbing Friday following the company's fourth-quarter earnings release. The telecom company's share price was up 1.3% as of 12:15 p.m. ET and had been up as much as 3.9% earlier in the daily session.
Verizon published its Q4 report before the market opened, posting earnings that were in line with Wall Street's expectations and sales that beat the target. The company posted adjusted non-GAAP (generally accepted accounting principles) earnings per share of $1.10 on sales of $35.7 billion. Meanwhile, the average analyst estimate had called for sales of roughly $35.34 billion in the period.
Verizon's revenue climbed 1.7% year over year in the fourth quarter, powered by solid mobile wireless and internet-service customer-addition numbers. In the mobile wireless category, the company added 568,000 net postpaid phone additions in the quarter -- representing an acceleration from the 449,000 net adds it posted in the prior-year quarter. Revenue for the segment increased 3.1% year over year to reach $20 billion, marking its 18th consecutive quarter of sequential growth.
Source Fool.com
Verizon Communications Inc. Stock
With 15 Buy predictions and not the single Sell prediction the community is currently very high on Verizon Communications Inc..
As a result the target price of 43 € shows a positive potential of 20.08% compared to the current price of 35.81 € for Verizon Communications Inc..
