VZ - Verizon Q1: The More It Drops The More I'll Buy
2024-05-02 14:26:19 ET
Summary
- Verizon beat EPS estimates for Q1 '24 and is likely to continue growing its dividend this year.
- The broadband business is a strong driver of growth for Verizon, with continual subscriber momentum.
- Verizon's valuation is attractive, with a competitive P/E ratio and a growing dividend, making it appealing for dividend investors.
Verizon Telecommunications ( VZ ) submitted a better than expected earnings sheet for the first fiscal quarter last week, which included an EPS beat and strong free cash flow. The broadband business continued to shine in the first-quarter, and Verizon is therefore very likely to continue to grow its dividend this year. Verizon, however, needs to follow in the footsteps of AT&T ( T ) and repay more debt in order to lower its leverage. Lowering the debt burden could also be a powerful catalyst that allows for a revaluation of the telecom's shares to take place. With a low valuation based off of earnings, I believe the value proposition for dividend investors especially is a very good one!...
Verizon Q1: The More It Drops, The More I'll Buy