New Trade for April 17th, 2024

Verizon Communications (VZ) has emerged from a challenging past year with several compelling reasons for investors to consider it a strong buy in Q2 2024. Despite experiencing a revenue dip and fluctuations in its stock price, the telecom giant has laid a solid foundation for growth and stability moving forward. 

Verizon’s strategic investments in expanding its wireless and broadband services have positioned the company for sustained growth. With over 3 million fixed wireless net additions in 2023 and a subscriber base goal of 4 to 5 million by the end of 2025, Verizon is ahead of schedule in its expansion plans. The company’s focus on enhancing its service offerings and network capabilities is expected to drive further growth and profitability.

Verizon’s free cash flow (FCF) reached $18.7 billion in 2023, up from $14.1 billion in 2022. This robust cash generation capability highlights Verizon’s financial health and operational efficiency. It also ensures the company’s ability to fund its high-yield dividend, which has been increased for the 17th consecutive year, marking the longest streak of dividend increases in the U.S. telecom industry.

Given Verizon’s strong financial health, strategic growth initiatives, and commitment to delivering shareholder value, the stock presents an attractive investment opportunity. The company’s performance in 2023, coupled with its positive outlook for 2024, suggests that now is an opportune time to consider adding Verizon to your portfolio.



NEXT:



Get Free Stock Picks via SMS by Signing Up Below!


I would like to receive timely trade ideas and stock watchlists from Wall Street Watchdogs at the phone number provided. Message frequency varies. Message and data rates may apply. Reply HELP for help or STOP to cancel.(Watchdogs SMS Terms of Service & Privacy Policy)