Verizon (VZ) Stock After the Bell on December 9, 2025: Layoffs, Dividend Yield and What to Watch Before the December 10 Open

Verizon Communications Inc. (NYSE: VZ) finished Tuesday, December 9, 2025, on the back foot. The stock dropped almost 3% during the regular session as trading volumes jumped and investors continued to digest the company’s largest-ever round of layoffs and a sweeping restructuring under new CEO Dan Schulman. After the bell, the shares barely budged, leaving traders to decide overnight whether Verizon is a bargain high‑yield “bond proxy” or a slow‑growth telecom stuck in neutral. ^[1]

Below is a detailed look at how VZ traded on Tuesday, the latest news and forecasts published on December 9, and the key things to know before the U.S. market opens on Wednesday, December 10, 2025.

Verizon (VZ) stock today: price action on December 9, 2025

Regular session

According to multiple price databases, Verizon shares: ^[2]

Closed: about $40.14 on Tuesday, December 9
Change on the day: roughly ‑2.8% versus Monday’s $41.30 close
Intraday range: opened near $41.23, traded as high as $41.48, and fell to just above $40.10
Volume: around 30–32 million shares, roughly 40% above the recent average daily volume in the low‑20‑million range

MarketBeat’s real‑time recap described the session as a notable down day: the stock traded as low as roughly $40.11 and was last seen near $40.14 intraday, with volume about 40% above normal. ^[3]

After-hours trading

Zacks’ fundamental page for Verizon shows an after‑market quote of about $40.21, up only a few cents from the close. ^[4] That suggests:

No major new company‑specific headlines hit after the bell on December 9
The after‑hours tape was quiet and roughly flat, with traders largely waiting for macro catalysts rather than reacting to fresh Verizon news

Context vs. the broader market and peers

The weakness in Verizon came on a generally soft day for equities:

The S&P 500 lost around 0.4%
The Dow Jones Industrial Average slipped roughly 0.8%
The Nasdaq Composite finished close to flat ^[5]

That weakness reflected investor caution ahead of the Federal Reserve’s December policy decision and fresh U.S. economic data. ^[6]

Within the wireless sector, Verizon underperformed:

Verizon (VZ): about ‑2.8%
AT&T (T): roughly ‑1.3%
T‑Mobile US (TMUS): about ‑1.5% ^[7]

So Tuesday’s sell‑off was both market‑driven and company‑specific: defensive, high‑yield telecoms were out of favor on the day, and investors are still recalibrating around Verizon’s restructuring story.

Why Verizon stock is under pressure: layoffs, restructuring and customer churn

A new CEO and the biggest layoffs in company history

The central narrative around Verizon in late 2025 is an aggressive reset under new CEO Dan Schulman:

Schulman, best known as the former PayPal chief, was appointed Verizon CEO in early October 2025. Hans Vestberg became a special adviser and remains on the board, while Mark Bertolini was named chairman. TechStock²+1
In mid‑November, Reuters reported that Schulman plans to cut about 15,000 jobs, the largest layoff in Verizon’s history, affecting roughly 15% of the workforce and more than 20% of non‑union management roles. ^[8]
The restructuring plan also includes converting around 180 corporate‑owned retail stores into franchises and broad efforts to simplify the organization and cut “friction.” ^[9]

Schulman has framed this as a “cost transformation” designed to make Verizon leaner, faster and more customer‑focused in an intensely competitive wireless market. ^[10]

CEO messaging: market share losses and “inevitable” cuts

On December 9, Insider Monkey highlighted comments from Schulman during an internal webcast, citing Barron’s: ^[11]

He told employees that Verizon has lost roughly 5–7% market share over the past five years, as rivals used aggressive promotions and cheaper plans to lure away customers.
Churn has risen and customer satisfaction scores trail key competitors, reflecting both pricing decisions and service frustrations.
Schulman argued that the layoffs were “inevitable” because Verizon needed to free up money to improve its value proposition for customers, rather than relying on repeated price hikes.

In short, management has publicly admitted that prior strategy leaned too heavily on price increases, and that Verizon is now paying for that with lost market share and churn. ^[12]

Investor concerns

That candid messaging is a double‑edged sword:

Positive: Investors usually like CEOs who tackle bloated cost structures and acknowledge past mistakes. Costs cuts, if executed well, can support earnings and free cash flow.
Negative: Cutting about 15,000 jobs while trying to improve customer service is risky. Analysts quoted by Reuters have questioned whether the savings will be enough to offset higher handset subsidies and retention spending needed to stop subscriber losses. ^[13]

This tension—necessary but painful restructuring vs. execution risk—is one reason Verizon’s stock sold off on December 9 even without any single, new “shock” headline.

Fundamentals remain solid: earnings, cash flow and a nearly 7% yield

Q3 2025 earnings: modest growth, but plenty of cash

Verizon’s most recent reported quarter (Q3 2025, released October 29) is still the fundamental backdrop for December trading: ^[14]

Adjusted EPS:$1.21, slightly above Wall Street’s $1.19 consensus
GAAP EPS: about $1.17, up strongly from the year‑ago quarter
Revenue: roughly $33.8 billion, up about 1.5% year‑on‑year but a bit below analyst expectations
Wireless service revenue: around $21.0 billion, growing just above 2% year‑on‑year
Free cash flow (first nine months of 2025): roughly $15.8 billion, up from about $14.5 billion a year earlier
Net unsecured debt: around $112 billion, down versus Q3 2024

On the guidance front, Verizon reaffirmed 2025 full‑year targets calling for: ^[15]

Low‑single‑digit growth in wireless service revenue
Low‑ to mid‑single‑digit growth in adjusted EBITDA and EPS
Cash from operations in the high‑30‑billion‑dollar range
Free cash flow of roughly $19.5–20.5 billion

Those numbers are important because they underpin both deleveraging and the dividend.

Dividend: 19 years of increases and one of the Dow’s highest yields

Dividend and income investors are watching Verizon closely because of its unusually high yield for a Dow component:

On December 4, 2025, Verizon’s board declared a $0.69 quarterly dividend, payable on February 2, 2026 to shareholders of record on January 12, 2026. ^[16]
That works out to an annualized payout of $2.76 per share.
At Tuesday’s closing price around $40.14, the forward dividend yield is roughly 6.8–6.9%, making Verizon one of the highest‑yielding stocks in the Dow Jones Industrial Average. ^[17]
MarketBeat and other data providers estimate a payout ratio of about 59% of earnings, which is high but generally considered sustainable for a large, cash‑generative telecom. ^[18]

Management emphasises that expected free cash flow in the high‑teens to low‑20‑billion‑dollar range should comfortably cover roughly $11–12 billion in annual dividends while still allowing gradual debt reduction. ^[19]

So even after Tuesday’s drop, the income story is intact. The question is whether the restructuring and competitive landscape will support modest earnings growth over the next few years, or whether Verizon becomes a high‑yield bond substitute with little capital appreciation.

What Wall Street is saying: Verizon stock forecasts as of December 9, 2025

Several fresh and recently updated forecasts and analyses published around December 9 paint a broadly consistent picture: cheap, cash‑rich, but not a clear growth story.

Consensus ratings and price targets

Across major analyst aggregators:

MarketBeat:
- Consensus rating: Hold based on 21 analysts (13 Hold, 6 Buy, 2 Strong Buy)
- Average 12‑month price target:$47.41, implying roughly 18% upside from about $40.14 ^[20]
StockAnalysis:
- Consensus rating from 12 covering analysts: Buy
- Average price target:$48.50, implying about 21% upside over the next year, with a range of $43–$56 ^[21]
TipRanks:
- Consensus rating: Moderate Buy (4 Buy, 11 Hold, 0 Sell)
- Average price target:$46.62, about 12–13% upside from roughly $41 in recent data ^[22]
Benzinga:
- Classifies VZ as Neutral overall
- Based on 26 analysts, the average target is $46.60 (high $56, low $36), with a recent one‑year return of around ‑4% and year‑to‑date performance roughly flat. ^[23]

Putting those together, Wall Street is essentially saying:

Verizon is a value‑priced, high‑yield telecom with double‑digit percentage upside to the mid‑ to high‑$40s in most scenarios—but not an obvious growth stock.

Valuation and risk themes in December 9 research

Key themes highlighted in December 9 coverage and recent fundamental notes include: ^[24]

Low earnings multiple:
- VZ trades around 8–9× trailing earnings, putting it among the lowest P/E names in the S&P 500.
High, but covered, leverage:
- Long‑term and unsecured debt exceeds $110 billion, but is slowly declining as free cash flow improves.
Dividend durability vs. growth:
- Cash generation and payout ratios suggest the current dividend looks secure, but there is less consensus on the potential for fast dividend growth.
Competitive pressure:
- Verizon continues to face intense competition from AT&T, T‑Mobile and cable operators, particularly around device promotions and bundled offerings. Market‑share losses and higher churn are central to the bear case.
Technical tone:
- Short‑term technical services such as StockInvest.us note that VZ is hovering near the lower end of its recent range, with some models projecting modest downside over the next few months if support around the low‑$40s fails. ^[25]

One widely cited Seeking Alpha article published on December 9 characterizes Verizon as a “cash cow stuck in neutral” and argues that while the valuation and dividend are attractive, sluggish growth and high leverage justify only a Hold rating for now. ^[26]

Key numbers to know before the December 10, 2025 open

Heading into Wednesday’s session, here is the snapshot for Verizon stock using the latest available data as of December 9: ^[27]

Tuesday close (Dec 9): ~$40.14
After‑hours quote: ~$40.21
1‑day move: about ‑2.8%
52‑week range: roughly $37.6 – $47.4
Market cap: around $170 billion
Trailing P/E: roughly 8–9×
Expected FY 2025 EPS: about $4.7
Dividend:$0.69 per quarter (annualized $2.76)
Forward yield at ~$40: approximately 6.8–6.9%
Analyst average 12‑month target range: roughly $46–$48.5

These figures frame Verizon as:

A defensive, income‑oriented stock with a yield far above Treasuries and the S&P 500
Trading near the lower half of its 52‑week range, even after a modest year‑to‑date rebound
Priced for modest growth and elevated risk, not for aggressive expansion

What could move Verizon shares on December 10

While there is no major Verizon‑specific event scheduled for December 10, several catalysts could influence how VZ trades when the market opens:

Macro sentiment and the Fed narrative
- U.S. indices weakened on December 9 as traders focused on the Federal Reserve’s upcoming rate decision. Futures and bond yields into Wednesday’s open will shape the appetite for high‑dividend, rate‑sensitive names like Verizon. ^[28]
- A more dovish outlook (or falling bond yields) generally supports high‑yield “bond proxies”, while a renewed risk‑on move into growth and tech can leave slow‑growing telecoms lagging.
Follow‑up coverage on layoffs and strategy
- Analysts and media are still digesting Schulman’s comments about cost cuts, market‑share losses and AI‑driven plans for 2026. Any new notes from Wall Street—for example, further downgrades or upgrades reacting to the restructuring—could move VZ at the open. ^[29]
Institutional flows and positioning headlines
- December 9 also saw several 13F‑style stories showing large investors both adding to and trimming Verizon positions—State Street Corp, WINTON GROUP and others. That reinforces the idea that big money is rebalancing, not abandoning, the stock. ^[30]
Technical levels around $40
- With VZ closing just above $40, traders will be watching whether that level holds as support on Wednesday. The 52‑week low in the high‑$37 range and recent highs just above $47 define a fairly wide band between yield‑hunters buying dips and sellers fading rallies. ^[31]
Sector moves in AT&T, T‑Mobile and cable names
- Because much of Verizon’s story is about relative competitiveness, sharp moves in AT&T, T‑Mobile or major cable operators can spill over into VZ, especially if new promotions or pricing headlines emerge. ^[32]

Bottom line: what Tuesday’s drop really means for Verizon stock

As of the close on December 9, 2025, nothing fundamental about Verizon’s long‑term story changed in a single session:

The company is still a high‑yield, low‑P/E telecom giant with strong free cash flow.
It is undergoing a massive restructuring, including about 15,000 job cuts, store conversions and an internal culture reset toward cost discipline and customer focus.
Wall Street’s view remains cautious but not bearish: consensus ratings cluster between Hold and Moderate Buy, with average 12‑month price targets in the mid‑ to high‑$40s and meaningful upside if the turnaround works. ^[33]

For short‑term traders, Wednesday’s open will likely hinge on macro sentiment around the Fed, technical levels near $40, and any new analyst notes reacting to Schulman’s restructuring plan.

For longer‑term investors, the decision is more philosophical:

Is Verizon a durable income vehicle that can slowly grow earnings while paying a near‑7% dividend?
Or is it an over‑levered, slow‑growth incumbent whose restructuring may not fully fix competitive and technological pressures?