Verizon likely to snap its six-day streak in red (NYSE:VZ)
The communication services firm inched 0.69% higher to $40 by 1248 ET. Over the six sessions of losses, the company fell about 6%. On a 12-month reading, the VZ has risen just 0.48%. Currently, the short interest in the company stood at about 1.20%, while its 200-day moving average was 11.70%.
Looking at Seeking Alpha’s Quant ratings, VZ had a Hold rating with a score of 3.47 out of 5. The company received an A+ for its profitability but a D for growth prospects. The stock, however, got a B+ for valuation, compared to an A- six months ago.
Turning to the Wall Street community, about 14 sell-side analysts surveyed in the last 90 days rated VZ as a Buy or higher. Meanwhile, another 12 analysts rated the company as a Hold.
Seeking Alpha analysts generally saw Verizon as a Buy. SA Analyst The Value Corner endorsed the company as Hold, commenting, “Verizon has struggled to turn subscriber growth into revenue or income expansion in Q4 FY23 and in their full-year results.”
“The closing of the AOL and Yahoo divestitures should allow Verizon to focus on its core telecommunications business and potentially yield margin expansion in the future,’ the analyst added.