#3 - Verizon Communications (NYSE:VZ)
In a volatile market, the best offense can be to get defensive. That’s what you get with Verizon Communications Inc. (NYSE: VZ). The wireless phone model is about as predictable as it gets. But Verizon is a leader in the space. The company’s major investment in 5G technology is a reason for that.
The buildout of that network raised the company’s debt to uncomfortable levels, particularly at a time of rising interest rates. However, the bulk of that spending is done, and the company is now seeing some benefit to that investment on the top and bottom lines.
In addition to predictable revenue and earnings, investors get a reliable, high-yield dividend. Verizon's dividend yield, which has increased for 19 consecutive years, is 6.75%. That’s higher than the rate on the current two-year U.S. Treasury note. That, along with expectations of an 11.4% increase in the VZ stock price this year, is a reason for income-oriented investors to consider Verizon.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
Read More - Current Price
- $44.56
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 9 Buy Ratings, 8 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $46.26 (3.8% Upside)
