Verizon stock hits 52-week high at $45.38 amid market rally

In a notable surge within the telecommunications sector, Verizon Communications Inc. (NYSE:VZ) stock has reached a 52-week high, touching $45.38. According to InvestingPro data, the stock’s impressive momentum is accompanied by a robust 6.13% dividend yield and a conservative P/E ratio of 10.6x. This peak comes amidst a broader market rally that has seen several stocks push past previous resistance levels. Investors have shown renewed confidence in Verizon, as evidenced by the stock’s impressive year-to-date return of 12.56%. InvestingPro analysis reveals the company maintains a GOOD overall financial health score, though technical indicators suggest the stock may be entering overbought territory. The company’s performance, particularly in the context of an increasingly competitive industry, underscores its resilience and the effectiveness of its strategic initiatives. With a market capitalization of $190.66 billion and a 42-year track record of consistent dividend payments, Verizon’s ascent to this 52-week high marks a significant turnaround and a potential indicator of continued momentum for the stock in the coming months. Discover 10+ additional exclusive insights about Verizon with InvestingPro.

In other recent news, Verizon Communications reported a notable increase in its business performance, with a gain of 1 million postpaid mobile phone and broadband customers in the fourth quarter, marking the largest increase in over a decade. The company’s fourth-quarter operating revenue rose by 1.6% year-over-year to $35.7 billion, with wireless service revenue increasing by 3.1% to $20 billion. Additionally, Verizon’s total broadband connections surged by 15% year-over-year to 12.3 million. Analyst firms have been adjusting their price targets and ratings for Verizon, reflecting varied outlooks on the company’s prospects. Tigress Financial Partners maintained a Buy rating with a $55 price target, citing growth in subscribers and the potential of AI to enhance services. Meanwhile, Raymond (NSE:RYMD) James reduced its price target to $45 but maintained an Outperform rating, acknowledging Verizon’s solid fourth-quarter performance and strategic expansion plans. Scotiabank (TSX:BNS) raised its price target slightly to $47.50, expecting steady improvements in wireless subscriber numbers. Conversely, Bernstein lowered its price target to $46, maintaining a Market Perform rating, while acknowledging Verizon’s strong growth in postpaid and fixed wireless access net additions. In corporate governance news, Verizon announced that Board Director Rodney E. Slater will not seek re-election at the 2025 annual shareholder meeting, marking the end of his tenure.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.