Telecom giant Verizon (VZ) is set to announce its Q4 2024 earnings today. Wall Street analysts expect the company to report earnings per share of $1.09, up from $1.08 per share in the same quarter last year. Also, revenue is expected to reach $35.34 billion, representing a 0.6% year-over-year increase, according to data from the TipRanks Forecast page below.
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As Q4 approaches, it’s worth noting that Verizon has exceeded consensus EPS estimates in eight of the past nine quarters.
Analysts’ Opinions on VZ Ahead of Q4 Results
Last month, Bank of America Securities analyst David Barden maintained a Hold rating and a price target of $45 per share. While the analyst anticipates Verizon will report steady post-paid phone net additions in Q4, rising competition, and restructuring and promotional expenses are expected to weigh on revenue growth in 2025.
Moreover, according to TipRanks’ Bulls Say, Bears Say tool, bullish analysts indicate that Verizon could continue benefiting from significant fixed broadband growth. However, bearish analysts caution that slowing wireless service revenue growth and intensified competition from AT&T (T) and T-Mobile may negatively affect the company’s performance.
Insights from Options Trading Activity
Using TipRanks’ Options tool, we can see what options traders are expecting from the stock immediately after its earnings report. The expected earnings move is determined by calculating the at-the-money straddle of the options closest to expiration after the earnings announcement. If this sounds complicated, don’t worry, the Options tool does this for you.
Indeed, it currently says that options traders are expecting a 3.80% move in either direction.
Is VZ a Buy Right Now?
Turning to Wall Street, analysts have a Moderate Buy consensus rating on VZ stock based on three Buys and five Holds assigned in the past three months, as indicated by the graphic below. After a 1.3% gain in its share price over the past year, the average VZ price target of $45.86 per share implies about 17% upside potential.
