Verizon Communications, Inc. is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments. The Consumer segment provides consumer-focused wireless and wire line communications services and products. The Business segment offers wireless and wire line communications services and products; video and data services; corporate networking solutions; security and managed network services; local and long distance voice services; and network access to deliver various Internet of Things (IoT) services and products. The company was founded in 1983 and is headquartered in New York, NY.
Verizon Stock Price History by Markets Insider
Verizon Communication Inc. was established on June 30th, 2000. The wireless service company is the result of the merger of Bell Atlantic Corporation and GTE Corporation. Although these two companies were listed individually at the stock exchange before this merger, it was on July 3rd, 2000, when the stock under the ticker “VZ” went public at the NYSE. Verizon stock price (NYSE:VZ) was traded at an IPO price of $45.53.
The initial euphoria, which drove Verizon stock price up to $48.39 by the end of the first day, subsided after a few weeks. By the end of July 2000, the stock was only worth $42.04. Verizon and Wall Street was not satisfied with the development of the stock during the first year. This was in line with other telecom companies which were not considered stocks to buy at the time. However, this downward trend soon stopped, Verizon stock price went up a bit, and remained fairly stable throughout the first three quarters of 2001, where Verizon stock price stayed at $50. By the end of 2001, Verizon stock price began to fall and reached a low in July 2002, when Verizon stock price was only at $24.67. It was not until October that Verizon stock price rose above the $30 mark again. This positive trend intensified and by January 6th, 2003, the stock closed at $39.59. Verizon Communications Inc., providing internet to its customers in the United States, was profiting from the unstoppable Internet boom. Verizon revenue growth has Wall Street interested and its market capitalization increasing.
During the following years, Verizon stock price did not perform well. The upward trend in 2004 was followed by a period of falling stock prices which bottomed out on October 20th, 2005, when the stock was listed at $26.23. After this temporary weaker period, Verizon stock price rallied to reach $42.93 on October 29th, 2007. One year later, when the company’s stock closed at $23.52 on October 24th, 2008, the stock value had declined by 45%. It took a while until confidence among investors could be restored. The way out of this bear market was difficult. Year over year, Verizon stock price almost stagnated and was traded around $28 in October 2009. However, markets started to move upwards again. On August 10th, 2010, the stock passed the mark of $30.00 to close at $30.02 and has not fallen beneath $30.00 since August 31th, 2010. The strong increase of more than 15% between October 2009 and October 2010 shows the strong post-stock market crisis performance of Verizon’s stock.
2013 stands out in terms of soaring prices of Verizon’s stock, an increase of well above 9%, from $49.15 on March 28th, 2013, to $53.91 on April 30th, 2013.
Ever since, Verizon stock has performed solidly, closing at $46.78 on December 31st, 2014, and at $46.22 one year later. In 2016, the stock closed at $53.38 on December 30th. The stock reached a closing price of $56.53 on July 5th, 2016. In 2017, Verizon stock price flirted between the $40 and $50 range.
A strong dividend of $2.29 in 2017, earnings per share of $0.89 in Q3 of 2017, and a solid customer base in made Verizon Communications Inc. an attractive option for investors. Verizon’s recent acquisition of Yahoo! Inc. gave way to the creation of the company’s new subsidiary Oath. This opens up new possibilities for organic growth in Verizon’s media and contributes to a diversification of the company’s portfolio. And the law of net neutrality could also feature large in future revenue growth for Verizon.
Any equity research report will include the historical financial performance of the company. The financial statements form the basis of facts for the company and those facts contribute to the determination of the buy, hold, or sell investment recommendation. For this assignment, you will use the Mergent database through the university library to retrieve 3 years of financial statements (i.e., the income statement, balance sheet, and statement of cash flow) for your chosen publicly traded company that pays dividends. You should use the same company you picked for your Post Your Introduction discussion forum. Then you will format that financial information using a spreadsheet program like Excel. The video below explains how to format your company’s financial information.
Title this assignment “Appendix A.” Be sure to save both formats (Excel and PDF) of these files for later use.
Note: You will use all of the assignments in Weeks 1 through 4 for your Week 5 final project for this course.
Prepare:
Prior to beginning work on this assignment,
Complete the Week 1 – Learning Activity in Amplifire .
Select a publicly traded company that pays dividends (per the instructions in the Week 1 – Post Your Introduction).
Review the BUS401: Principles of Finance Research Guide.
Review the Excel resources in the BUS401: Principles of Finance Research Guide.
Watch the following video that will help you format the financial statements for Appendix A:
Sample Solution
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