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Benzinga

Business

Henry Khederian

Why Verizon Shares Are Falling

Verizon Goldman Sachs NYSE Verizon Communications Inc

Verizon Communications Inc. (NYSE:VZ) shares are trading lower by 4.23% at $49.72 after Goldman Sachs downgraded the stock from Buy to Neutral.

Verizon last week reported first-quarter adjusted EPS of $1.35 which was in line with the analyst consensus estimate. The company reported sales of $33.60 billion, which beat the analyst consensus estimate of $33.54 billion. Verizon also sees FY22 adjusted EPS guidance at the lower end of its previously issued $5.40-$5.55 range.

See Also: Why Axsome Therapeutics Stock Is Falling Today

Verizon offers communications, technology, information and entertainment products and services to consumers, businesses and governmental entities worldwide.

According to data from Benzinga Pro, Verizon has a 52-week high of $59.85 and a 52-week low of $49.68.

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