Sumary of Why Verizon Is A Still Buy After Beating Earnings:
- (Photo by David Ramos) Getty Images Verizon VZ reported better-than-expected second-quarter earnings before the opening bell on Wednesday, July 21. Its quarterly earnings-per-share came in at $1.37 per share with revenue of $33,764 million.
- The stock traded as high as $56.85 but failed to hold its 50-day simple moving average at $56.71. Strength has been below its monthly and quarterly pivots at $57.17 and $58.22. I like Verizon for these reasons: The stock has a favorable dividend yield of 4.61% and its p/e ratio is reasonable at 12.19%.
- Verizon should benefit from infrastructure spending that should involve implementing 5G technology in rural areas of the country.
- Verizon Wireless is seeing strong demand the 5G smartphones.
- Given this trading range, the movement of the 50-day and 200-day simple moving averages does not factor.
- These are semiannual and annual risky levels at $62.30 and $64.19. One thing I can say is that is a daily close above the 50-day simple moving average at 56.66 targets the 200-day simple moving average at $57.61. The Weekly Chart for Verizon MORE FOR YOU Weekly Chart for Verizon.