Verizon Shares Surge 3.84% Amid Strong Financials and Potential Frontier Acquisition
1min read Verizon Communications (VZ) saw a 3.84% increase recently.
On September 9th, RBC Capital reaffirmed its rating for Verizon Communications at 'Sector Perform' with an updated target price of $42.00.
On July 25, Verizon Communications reported its mid-year financial results for 2024. As of June 30, the company posted revenues of $65.77 billion, a slight year-over-year increase of 0.41%. Net income amounted to $9.42 billion, with basic earnings per share standing at $2.18.
Verizon Communications is a Delaware-registered holding company and a global leader in providing communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities. The company operates worldwide, delivering data, video, and voice services and solutions over its networks and platforms. Verizon aims to meet customers' needs for mobility, reliable network connections, and security.
Keybanc maintained its 'Overweight' rating for Verizon Communications on September 6th, with a new target price of $44.00.
Financial disclosures on July 25th echoed the previous update, noting revenues of $65.77 billion up by 0.41% year-over-year, and a net income of $9.42 billion. The basic earnings per share were confirmed at $2.18.
Verizon Communications is reportedly nearing a deal to acquire Frontier Communications, with an agreement possibly announced later this week.
On September 3rd, Verizon Communications traded up 1.27%, closing at $42.31 per share. Financial data indicated total revenues of $65.77 billion for the period ending June 30, 2024, marking a modest growth of 0.41%. However, the net income attributed to the company fell 3.79% to $9.195 billion.
Verizon Communications is scheduled to release its Q3 2024 financial results before the market opens on October 22nd. The data is sourced from Nasdaq, and the confirmed date will follow the company’s official announcement.