Verizon Communications Inc. is trying to turn its business around, but now it must do so with a cloud overhead.
While executives at the telecommunications giant likely had been gearing up to show investors the early results of their latest efforts to reignite the business — namely a tweaked array of phone plans — alongside Verizon’s VZ Tuesday morning earnings release, they’ll now have to devote some of their time to a historical move that’s come back to dog the company.
See also: AT&T to pause prior plans to remove lead cables under Lake Tahoe as it works with regulators Revenue: The FactSet consensus calls for $33.3 billion in revenue, down from $33.8 billion a year before. On Estimize, the average projection is for $33.4 billion. Of the 28 analysts tracked by FactSet who cover Verizon’s stock, six have buy ratings, 20 have hold ratings and two have sell ratings, with an average price target of $40.98, about 21% above Verizon’s Monday close.