Why Verizon and AT&T Stocks Fizzled on Friday
Concerns about a top rival's performance put big telecoms (NYSE: VZ) and AT (NYSE: T) in the investor doghouse on Friday. The stocks of both companies traded limply, to the point where the pair closed the day more than 2% lower in price. That made them outliers, as the S 500 index inched 0.6% higher. Rather uncomfortably, both stocks are components of the index.
The aforementioned peer is T-Mobile US (NASDAQ: TMUS), which published its first-quarter results after market close on Thursday.
The company beat the consensus analyst estimates for both revenue and profitability, and raised guidance, but that didn't compensate for several concerning developments. The first was that neither metric grew on a year-over-year basis; the top line experienced a nearly 5% decline, to under $20.9 billion, while headline net income slid marginally to $2.95 billion.
Source Fool.com
Verizon Communications Inc. Stock
Verizon Communications Inc. is currently one of the favorites of our community with 11 Buy predictions and no Sell predictions.
With a target price of 43 € there is a slightly positive potential of 9.19% for Verizon Communications Inc. compared to the current price of 39.38 €.
