Verizon

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/25/2024 19.47% Tigress Financial $45 → $50 Maintains Buy 01/24/2024 2.75% UBS $37 → $43 Maintains Neutral 01/24/2024 5.14% Wells Fargo $40 → $44 Maintains Equal-Weight 01/24/2024 9.92% Raymond James $42 → $46 Maintains Outperform 01/24/2024 12.31% Daiwa Capital → $47 Upgrades Neutral → Outperform 01/24/2024 9.92% Keybanc $45 → $46 Maintains Overweight 01/04/2024 9.92% Wolfe Research → $46 Upgrades Peer Perform → Outperform 01/03/2024 7.53% Keybanc → $45 Upgrades Sector Weight → Overweight 12/19/2023 2.75% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 0.36% Citigroup $40 → $42 Maintains Buy 12/13/2023 -4.42% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 7.53% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 -9.2% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 -4.42% Citigroup $39 → $40 Upgrades Neutral → Buy […]

The following is a summary of the Verizon Communications Inc. (VZ) Q4 2023 Earnings Call Transcript: Financial Performance: Verizon posted wireless service revenue of $76.7 billion, reflecting a 3.2% increase from last year. Verizon achieved an adjusted EBITDA of $47.8 billion and a strong free cash flow of $18.7 billion. The company raised its dividend for the 17th consecutive year, maintaining a healthy payout ratio of around 59% from its free cash flow. Projections for 2024 suggest a wireless service revenue growth of 2% to 3.5%. The Q4 consolidated revenue was reported at $35.1 billion, indicating a decrease of 0.3% from last year. The total wireless service revenue for Q4 was $19.4 billion, a 3.2% rise YoY. The consolidated adjusted EBITDA for the quarter was $11.7 billion, falling by 0.6% compared to the prior year. It was reported that the adjusted EPS was $1.08, resulting in a full year adjusted

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We raise our 12-month target by $3 to $33, applying an EV/EBITDA multiple of 6.4x to our ’24 estimate, a discount to peers, reflecting our concerns over debt levels and loss of market share to competitors. We trim our ’24 EPS view by $0.05 to $4.58 and set ’25’s at $4.67. VZ reported Q4 operating EPS of $1.08 vs. $1.19, in line with the consensus. Q4 revenue declined 0.3%, driven by a 3.6% drop in the Business segment, due to a 12.1% decline in Wholesale and a 4.9% drop in Enterprise revenue, partially offset by 0.7% growth in the Consumer segment, driven by a 2.6% increase in Service revenue. Total wireless postpaid phone net adds were 449K, with 318K consumer adds and 131K business adds. VZ took

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/24/2024 9.71% Keybanc $45 → $46 Maintains Overweight 01/04/2024 9.71% Wolfe Research → $46 Upgrades Peer Perform → Outperform 01/03/2024 7.32% Keybanc → $45 Upgrades Sector Weight → Overweight 12/19/2023 2.55% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 0.17% Citigroup $40 → $42 Maintains Buy 12/13/2023 -4.6% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 7.32% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 -9.37% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 -4.6% Citigroup $39 → $40 Upgrades Neutral → Buy 08/22/2023 2.55% Oppenheimer → $43 Reiterates Outperform → Outperform 08/03/2023 4.94% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 07/27/2023 -6.99% Citigroup $42 → $39 Maintains Neutral 07/26/2023 -14.14% Goldman Sachs $41 → $36 Maintains Neutral 07/26/2023 0.17% Raymond James $51 → $42 Maintains

Verizon’s $5.8 billion charge is the latest sign of legacy phone companies adapting to how businesses connect — specifically, for less money after vetting more competitors. AT&T’s business wireline unit took a $13.5 billion write-down a year earlier for similar reasons. The lowered expectations reflect a commercial wireline market that’s been shrinking since 2016, MoffettNathanson analyst Craig Moffett says. “The forces at work here are secular, and they are only getting worse,” he says. “It’s doubly challenging for Verizon and AT&T as the two largest players in the market by far.”

Wolfe Research analyst Peter Supino upgrades Verizon Communications (NYSE:VZ) from Peer Perform to Outperform and announces $46 price target.

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/04/2024 16.78% Wolfe Research → $46 Upgrades Peer Perform → Outperform 01/03/2024 14.24% Keybanc → $45 Upgrades Sector Weight → Overweight 12/19/2023 9.16% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 6.63% Citigroup $40 → $42 Maintains Buy 12/13/2023 1.55% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 14.24% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 -3.53% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 1.55% Citigroup $39 → $40 Upgrades Neutral → Buy 08/22/2023 9.16% Oppenheimer → $43 Reiterates Outperform → Outperform 08/03/2023 11.7% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 07/27/2023 -0.99% Citigroup $42 → $39 Maintains Neutral 07/26/2023 -8.61% Goldman Sachs $41 → $36 Maintains Neutral 07/26/2023 6.63% Raymond James $51 → $42 Maintains Outperform 07/20/2023 -8.61% Wells Fargo $40 → $36

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 01/03/2024 14.65% Keybanc → $45 Upgrades Sector Weight → Overweight 12/19/2023 9.55% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 7.01% Citigroup $40 → $42 Maintains Buy 12/13/2023 1.91% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 14.65% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 -3.18% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 1.91% Citigroup $39 → $40 Upgrades Neutral → Buy 08/22/2023 9.55% Oppenheimer → $43 Reiterates Outperform → Outperform 08/03/2023 12.1% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 07/27/2023 -0.64% Citigroup $42 → $39 Maintains Neutral 07/26/2023 -8.28% Goldman Sachs $41 → $36 Maintains Neutral 07/26/2023 7.01% Raymond James $51 → $42 Maintains Outperform 07/20/2023 -8.28% Wells Fargo $40 → $36 Maintains Equal-Weight 07/18/2023 12.1% Morgan Stanley $44 → $44 Reiterates Overweight

Shares of Verizon Communications Inc. (NYSE:VZ) have been in focus following news of a merger between Dish Network (NASDAQ:DISH) and EchoStar (NASDAQ:SATS). Contrary to peers, Verizon should deliver an improvement in postpaid phone net additions, despite a decline in market share, according to KeyBanc Capital Markets. The Verizon Communications Analyst: Brandon Nispel upgraded the rating for Verizon Communications from Sector Weight to Overweight, with a price target of $45. The Verizon Communications Thesis: The company is likely to report year-on-year improvements in postpaid phone net adds in every quarter in 2024, versus declines for T-Mobile US Inc (NASDAQ:TMUS) and AT&T Inc (NYSE:T), Nispel said in the upgrade note. Check out other analyst stock ratings. “We expect VZ’s Consumer Broadband business to achieve 1.16M net adds in ’23 and 1.03M in ’24, which compares to our expectations for T of -170K in ’23 and -96K in ’24,” the analyst wrote. “We expect VZ to outperform T given VZ’s growing FiOS (Fiber) and 5G

Verizon Communications Inc. ((NYSE, NASDAQ:VZ) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 12/19/2023 14.15% Oppenheimer → $43 Reiterates Outperform → Outperform 12/14/2023 11.49% Citigroup $40 → $42 Maintains Buy 12/13/2023 6.19% Wells Fargo $35 → $40 Maintains Equal-Weight 11/02/2023 19.46% Tigress Financial $64 → $45 Maintains Buy 10/25/2023 0.88% Barclays $37 → $38 Upgrades Equal-Weight → Overweight 08/29/2023 6.19% Citigroup $39 → $40 Upgrades Neutral → Buy 08/22/2023 14.15% Oppenheimer → $43 Reiterates Outperform → Outperform 08/03/2023 16.8% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 07/27/2023 3.53% Citigroup $42 → $39 Maintains Neutral 07/26/2023 -4.43% Goldman Sachs $41 → $36 Maintains Neutral 07/26/2023 11.49% Raymond James $51 → $42 Maintains Outperform 07/20/2023 -4.43% Wells Fargo $40 → $36 Maintains Equal-Weight 07/18/2023 16.8% Morgan Stanley $44 → $44 Reiterates Overweight → Overweight 06/05/2023 3.53% HSBC $42.5 → $39 Maintains Hold

Oppenheimer analyst Timothy Horan reiterates Verizon Communications (NYSE:VZ) with a Outperform and maintains $43 price target.

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We keep our 12-month target price at $30, applying an EV/EBITDA multiple of 6.1x to our 2024 estimate, a slight discount to its three-year historical average multiple at 6.8x, reflecting our view that it will continue to lose market share. We raise our 2023 EPS estimate by $0.05 to $4.70 and trim 2024’s by $0.05 to $4.63. VZ reported Q3 operating EPS of $1.22 vs. $1.32, $0.04 above the consensus. Q3 revenue declined 2.6%, driven by a 2.3% drop in the Consumer segment due to an 11.8% decline in equipment revenue, as well as a 4.0% fall in the Business segment driven by a 15.9% decline in wholesale revenue. Consumer retail postpaid phone net losses were 51K, while business postpaid phone net adds were 151K. While results