Verizon Communications Inc. VZ shares are trading 4.23% lower at $49.72 after Goldman Sachs downgraded the stock’s value from Buy to Neutral.
Verizon last week reported adjusted earnings per share for the first quarter of $1.35, which was in line with analysts’ consensus estimate. The company reported revenue of $33.60 billion, which beat analysts’ consensus estimate of $33.54 billion. Verizon also sees its adjusted EPS guidance for FY22 at the lower end of the previously issued $5.40-$5.55 range.
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Verizon provides communications, technology, information and entertainment products and services to consumers, businesses and government agencies around the world.
According to data from Benzinga Pro, Verizon has a 52-week high of $59.85 and a 52-week low of $49.68.
This post Why Verizon Shares Are Falling was original published at “https://www.benzinga.com/markets/cryptocurrency/22/04/26792705/why-verizon-shares-are-falling”