Verizon (NYSE: VZ) Downgraded by Citadel to Reduce
Tuesday, May 03, 2022 7:00 PM

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Citadel believes Verizon's (NYSE: VZ) smartphone penetration and average revenue per user  trajectory will be lower than consensus estimates. The firm has downgraded to Reduce from Neutral, and the price target has been lowered to $33 from $34.

Verizon reported 51 cents in EPS in first-quarter 2011, compared with first-quarter 2010 earnings of 16 cents per share. There are no adjustments to first-quarter 2011 earnings results. Adjusted first-quarter 2010 earnings, excluding the impact of divestitures and non-operational charges (non-GAAP), were 48 cents per share.

Shares last traded at $37.56, down 0.58 percent. VZ has a 52-week low of $25.99 and a 52-week high of $38.95. The company has a total market cap of $105.78 billion. The price to earnings ratio of the company is 17.25, and the PEG ratio is 4.81.

Verizon Communications, formed by the merger of Bell Atlantic and GTE, is one of the world's leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world’s largest provider of print and on-line directory information.

 

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