Verizon (VZ) Stock Down Despite Completing 5G Radio Specs

Verizon (VZ) became the first U.S. carrier to complete its 5G radio specification.
By Rachel Aldrich ,

NEW YORK (TheStreet) -- Shares of Verizon (VZ) - Get Report  are down 0.41% to $55.67 today even as the company reaches another milestone in its move toward developing a complete 5G specification.

The New York-based communications company announced today that it had completed its 5G radio specifications. It is the first U.S. carrier to reach the milestone.

The new specifications provide guidelines to develop and test important 5G technical components for chipset providers, network vendors and mobile operators.

"The level of collaboration that we are seeing exceeds what we saw during 4G," said the company's VP of Network Technology Planning Adam Koeppe in a statement on Verizon's website. "This agile way of developing the specification and working with the ecosystem will enable us to get to market rapidly."

Verizon is now entering pre-commercial 5G testing, taking place in areas around New Jersey, Massachusetts and Texas.

Separately, TheStreet Ratings rated this stock as a "buy" with a ratings score of A.

The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, increase in net income, expanding profit margins and growth in earnings per share. TheStreet Ratings feels its strengths outweigh the fact that the company has had generally high debt management risk by most measures that TheStreet Ratings evaluated.

You can view the full analysis from the report here: VZ

Recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.

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