Verizon Communications Inc. (NYSE: VZ) and AT&T Inc. (NYSE: T) shares are trading lower following reports indicating the companies agreed to delay the 5G rollout following FAA concerns about potential interference with airplane safety systems.
Treasury bonds and gold saw large demand as investors sought ways to reduce portfolio risk and lower volatility. The movement also saw investors rotate into more defensive sectors like consumer staples and telecoms. Verizon (NYSE: VZ) was one of the big winners, staging a significant breakout ahead of the weekend.
Verizon stock price (NYSE: VZ) was traded at an IPO price of $45.53. The initial euphoria, which drove Verizon stock price up to $48.39 by the end of the first day, subsided after a few weeks. By the end of July 2000, the stock was only worth $42.04.
Is Verizon stock trading at $59 per share?
Verizon stock (NYSE: VZ) saw a 5.4% increase in the last one month (21 trading days) and it now trades at $59 per share.
How does Verizon stock compare to the S&P 500 in 2020?
The S&P 500 goes for 12.6 times EV to 2020 Ebitda. Verizon stock was down 1.6% in midday trading on Monday, to $58.48, versus a 0.9% rise for the S&P 500 index and 0.7% bump for the Dow Jones Industrial Average. Verizon stock sports an annual dividend yield of 4.2%.
Will AT&T and Verizon stock gain on rotation out of Tech?
Verizon stock and AT&T stock have gained in 2022 amid a rotation out of tech firms. The telecom firms are due to report fourth-quarter earnings.
Credit Suisse analyst likes the long-term potential of the telecoms company, but says the stock today is more of a show-me story. Verizon Communications has the U.
Verizon has stepped up its promotions in recent months, lowering the cost of some of its unlimited-data plans and adding perks like Walt Disney’s (DIS) new Disney+ streaming service for a year. That helped boost subscriber numbers last quarter, but didn’t translate to higher earnings.