Verizon (VZ) Stock Today: Massive Job Cuts, Big Dividend and 2026 Outlook

Verizon Communications (NYSE: VZ) heads into mid‑November 2025 as one of the market’s highest‑yielding blue‑chip stocks, but also one of the most controversial. A new CEO, the largest layoff in company history, heavy Black Friday promotions and a freshly raised dividend are all hitting the tape at once.

As of Friday’s close on 14 November 2025, Verizon shares finished around $41.06, leaving the stock modestly higher year‑to‑date but still far below pre‑5G highs. ^[1] With a dividend yield of roughly 6.7%, investors are asking the same question again: is VZ a high‑income bargain, or a classic dividend trap?

Below is a detailed, SEO‑friendly breakdown of the latest November 2025 Verizon news, fundamentals, and a scenario‑based forecast for the next 12–18 months.

This article is for informational purposes only and is not financial advice.

Verizon (VZ) stock price update – 16 November 2025

Last close (14 Nov 2025): about $41.06 per share. ^[2]
Recent trend: VZ traded around $39–$40 before Q3 earnings and the restructuring news; shares have since moved into the low $40s, gaining a few percent even as broader markets wobbled. ^[3]
Dividend yield: With the new $0.69 quarterly dividend (annualized $2.76 per share), the yield at ~$41 is around 6.7%, putting VZ firmly in “high‑yield” territory. ^[4]
Valuation: On trailing earnings of about $4.7 per share, Verizon trades at a P/E of ~8.7–8.8x, roughly half the ~18–20x multiples seen across the broader Communications Services sector and integrated telecom peers. ^[5]

In other words, the market still prices Verizon as a slow‑growth, high‑debt utility‑like business, despite a meaningful change at the top and a very aggressive cost‑cutting plan.

Key Verizon news in November 2025

1. New CEO Dan Schulman takes charge

On October 6, 2025, Verizon appointed Dan Schulman – best known as the former CEO of PayPal – as its new chief executive, replacing Hans Vestberg. Vestberg, who oversaw much of the 5G buildout, stays on as a special adviser and board member through 2026. ^[6]

Schulman’s mandate is the “next phase” after the heavy 5G investment cycle:

Re‑ignite growth in mobility and broadband,
Simplify the organisation and cut structural costs,
Improve customer experience and digital capabilities. ^[7]

On the Q3 earnings call he was unusually blunt, saying Verizon is “falling short of our potential” and signaling that changes will be “substantial, not incremental.” ^[8]

2. Record job cuts and aggressive cost restructuring

Just weeks into the job, Schulman unveiled what is set to be Verizon’s largest layoff ever:

Around 15,000 jobs, roughly 15% of the workforce, are expected to be eliminated, mostly in non‑union management roles. ^[9]
~180–200 corporate‑owned stores will be converted into franchises, moving those employees off Verizon’s payroll. ^[10]
Analysts estimate the plan could generate about $1 billion in annual gross cost savings from 2026. ^[11]

The market reaction has been cautiously positive: VZ rose 1–2% on the layoff headlines, even as broader indices declined, suggesting investors welcome deep restructuring after years of sluggish performance. ^[12]

Investor takeaway:
These cuts should help margins and free cash flow, but they also introduce execution risk and potential near‑term disruption. Schulman will be judged on whether service quality and subscriber trends hold up while billions are taken out of the cost base.

3. Q3 2025 earnings: solid cash flow, mixed revenue

On 29 October 2025, Verizon reported Q3 2025 results: ^[13]

Revenue: $33.8 billion, up 1.5% year‑over‑year, but slightly below Street expectations (~$34.2 billion). ^[14]
Adjusted EPS: $1.21, up ~1.5–1.7% YoY and above the $1.19 consensus. ^[15]
Wireless subscribers:
- 44,000 postpaid net adds, more than double the ~19,000 analysts expected. ^[16]
- Consumer segment still saw 7,000 postpaid phone net losses, but Business added 51,000 postpaid phone lines, a sign of enterprise strength. ^[17]
Broadband:
- 306,000 broadband net additions in Q3.
- 261,000 fixed wireless access (FWA) net adds, lifting FWA to nearly 5.4 million subscribers.
- 61,000 Fios internet net adds, the best in about two years.
- Total broadband connections surpassed 13.2 million, up 11.1% YoY. ^[18]

Crucially, Verizon reaffirmed full‑year 2025 guidance, including: ^[19]

Wireless service revenue growth: 2.0–2.8%
Adjusted EPS: $4.64–$4.73
Free cash flow: $19.5–$20.5 billion

Investor takeaway:
Q3 confirmed a stabilising picture: modest revenue growth, improving broadband momentum and solid cash generation, but still no breakout in consumer mobile phone adds.

4. Dividend hike and balance‑sheet moves

19th consecutive annual dividend increase

On 5 September 2025, Verizon’s board lifted the quarterly dividend from $0.6775 to $0.69 per share, marking 19 straight years of dividend growth. The new payout was made on 3 November 2025 to shareholders of record on 10 October. ^[20]

For 2025 so far, declared dividends sum to $2.045 per share, and the new rate implies about $2.76 per share annualisedgoing forward. ^[21]

Commentary following earnings highlighted that Verizon generated about $15.8 billion in free cash flow in the first nine months of 2025, versus $14.5 billion in the same period of 2024, while paying roughly $8.5 billion in dividends – a significantly healthier coverage ratio than during the peak 5G build years. ^[22]

That has led some analysts and dividend‑focused outlets to argue that Verizon’s near‑7% yield looks more sustainable now than it did a couple of years ago. ^[23]

Debt redemption and capital structure

On 3 November 2025, Verizon announced it will redeem nearly $2 billion of notes on 16 December 2025, including: ^[24]

All of its 1.45% Notes due 2026
All of its 3.00% Notes due 2027
A portion of 4.125% Notes due 2027

At the same time, filings show Verizon is issuing long‑dated junior subordinated notes due 2056, effectively swapping near‑term obligations for longer‑maturity, hybrid‑like capital. ^[25]

Investor takeaway:
The mix of debt redemption and new hybrid issuance suggests Verizon is managing its maturity wall and interest costsrather than rapidly deleveraging. Still, any reduction in nearer‑term debt helps support the dividend and keeps an investment‑grade credit rating more secure.

5. 5G, broadband and satellite partnerships

Verizon’s long‑term growth story still hinges on its networks.

Management says C‑band 5G deployment is on track to reach 80–90% of planned macro sites by year‑end, with 5G‑Advanced features rolling out over the next 18 months. ^[26]
Fixed wireless broadband remains a star: Verizon targets 8–9 million FWA subscribers by 2028, up from about 5.4 million today. ^[27]

On the innovation front:

In October, Verizon deepened its partnership with AST SpaceMobile to offer direct‑to‑cell satellite connectivityusing Verizon’s low‑band spectrum, aimed at serving remote and underserved areas from space. ^[28]
Verizon Business continues to pursue private 5G deals, including a contract to build 5G networks at the UK’s Thames Freeport logistics hub alongside Nokia. ^[29]

These moves are meant to translate Verizon’s heavy spectrum and capex spending into differentiated services for enterprises and rural consumers.

6. A promotional blitz for the holiday quarter

Verizon is also leaning hard into Black Friday and holiday promotions in November 2025: ^[30]

“Phones on us” deals for iPhone 17, Samsung Galaxy S25 and Google Pixel 10 with new lines on qualifying myPlan unlimited tiers.
Bundled offers that throw in smartwatches and tablets (e.g., Galaxy Watch 8, Pixel Watch 4, Galaxy Tab S10 FE 5G).
5G Home and Fios internet bundles that include a free Samsung TV, tablet or Nintendo Switch, plus $200 Verizon gift cards.
In‑app sweepstakes for Super Bowl LX trips and Caribbean holidays, designed to drive engagement in the My Verizon app.

These promotions helped Verizon beat expectations on Q3 subscriber adds and are likely to keep churn low into Q4 – but they also keep device subsidies and acquisition costs elevated, pressuring margins if not offset by ARPU gains. ^[31]

Fundamental snapshot: valuation, dividend and growth

Valuation versus peers

Across multiple data providers, Verizon currently trades at: ^[32]

Trailing P/E: ~8.7–8.8x
Forward P/E (2025–2026): ~8.5x
Price/sales: roughly 1.25–1.3x

Compare that with:

S&P 500 Communication Services sector: P/E about 17.9x. ^[33]
Integrated telecom services industry: around 17–18x. ^[34]

Some valuation models (e.g., Simply Wall St) estimate a “fair” P/E for Verizon around 13–14x, labeling the stock as meaningfully undervalued at current levels. ^[35]

Dividend and free cash flow

Dividend yield: high‑single‑digit, roughly 6.5–7%, depending on the share price. ^[36]
Dividend streak: 19 consecutive years of increases. ^[37]
FCF coverage: about $15.8bn FCF vs $8.5bn dividends in the first three quarters, with full‑year FCF guided at $19.5–$20.5bn. ^[38]

This combination has attracted plenty of “income investor” praise, but also a chorus of skeptics warning about a potential dividend trap if competition intensifies or capex has to rise again. ^[39]

Growth outlook

Consensus estimates and independent models point to low‑single‑digit growth: ^[40]

EPS (2025): ~$4.7
EPS (2026): ~$4.88–$4.9
EPS growth: ~3–4% per year over the next few years.
Revenue growth: ~1.5–2% per year, below the broader telecom services industry.

In short: Verizon is priced like a mature, slow‑growth utility, but one with very strong cash flow and a big dividend.

How Wall Street sees Verizon stock right now

Analyst sentiment is cautiously neutral:

Consensus rating: around “Hold” from large broker sample sizes. ^[41]
Average 12‑month price target: approximately $47–$49, implying ~15–20% upside from ~$41, before counting the 6–7% dividend yield. ^[42]
Target range: lows near $43–$44 and highs in the low‑to‑mid $50s. ^[43]

Some research pieces highlight Verizon as a “must‑own” or “mega‑dividend” stock for long‑term passive income, while others warn that persistent competitive pressure could keep the share price stuck despite the yield. ^[44]

Verizon stock forecast: scenarios for the next 12–18 months

Rather than a single point target, it’s more realistic to think in scenarios, based on execution under the new CEO, competition, and macro conditions.

To ground the discussion, note that:

Consensus 2026 EPS is about $4.88. ^[45]
Today’s price (~$41.06) implies a forward P/E of roughly 8.4x–8.5x.

Using that EPS as a reference, here’s how different P/E multiples would translate into prices:

8x EPS: ≈ $39
9x EPS: ≈ $44
10x EPS: ≈ $49
11x EPS: ≈ $54
12x EPS: ≈ $59

(Illustrative math only, ignoring dividends and buybacks.)

Base‑case (most probable) – slow growth, modest re‑rating

Assumptions

Schulman delivers on a good portion of the $1bn+ in cost savings without major service issues. ^[46]
Wireless and broadband add volumes remain steady thanks to myPlan and FWA, even as promotions normalise. ^[47]
Free cash flow hits or slightly beats the $19.5–$20.5bn 2025 guidance range, supporting the dividend and small debt reduction. ^[48]
The macro backdrop stays “slow but positive”; no deep recession or credit crunch.

Implications

In this scenario, Verizon could plausibly maintain EPS growth of ~3–4% and keep leverage broadly stable. If the market becomes more comfortable that the dividend is secure and growth is at least non‑zero, VZ might trade closer to 9–10x forward earnings rather than the current mid‑8s.

That would put a reasonable 12–18 month price band roughly in the mid‑$40s to high‑$40s, with total return (including the dividend) potentially in the low‑to‑mid teens annually, assuming no major shock.

Bull‑case – restructuring surprises to the upside

Assumptions

Cost cuts are executed rapidly and cleanly, with minimal operational disruption.
FWA and broadband growth remain strong, pushing cross‑sell penetration (wireless + home internet) higher and boosting ARPA/ARPU. ^[49]
Private 5G, enterprise deals (e.g., Thames Freeport), satellite connectivity (AST SpaceMobile) and the AWS fiber/AI partnership start to show visible revenue contribution by late 2026. ^[50]
Rates drift lower, making high, stable yielders more attractive and lowering Verizon’s future interest expense.

Implications

If earnings surprise on the upside and investors start seeing Verizon as a reinvigorated cash‑machine rather than a stagnating telco, a valuation closer to 10–11x forward EPS is plausible, still below sector averages. On 2026 EPS of ~$4.9, that would roughly imply a price range in the high‑$40s to low‑$50s, with the dividend pushing potential total returns into the high teens or better over 12–18 months.

This bull‑case essentially assumes Schulman’s plan shifts the narrative from “value trap” to “steady compounder.”

Bear‑case – price wars, execution missteps and a questioned dividend

Assumptions

AT&T and T‑Mobile continue heavy device subsidies and aggressive promotions, forcing Verizon to keep up and compress margins. ^[51]
The 15,000‑person restructuring leads to customer‑service issues, higher churn, or slower enterprise execution. ^[52]
FWA growth slows more sharply as the easiest markets saturate, while incremental 5G capacity investments stay high. ^[53]
One or more credit agencies express concern about leverage if rates remain elevated.

Implications

In this scenario, the market might cut Verizon’s P/E back to 7–8x forward earnings, especially if there is renewed chatter about long‑term dividend safety. On 2026 EPS, that would imply a trading range somewhere in the mid‑$30s to high‑$30s, with the dividend yield rising further but largely compensating for weak or negative price performance.

The key risk isn’t an imminent dividend cut (current coverage is healthier), but long‑term stagnation that keeps the stock in “bond proxy” territory while fundamentals erode slowly.

What to watch next if you follow VZ

Over the next few quarters, the most important metrics and events for VZ shareholders and watchers will be:

Execution of the 15,000 job cuts
- Timing of restructuring charges vs. realized savings.
- Any signs of network or customer‑service degradation. ^[54]
Free cash flow vs. guidance
- Whether FCF actually lands in the $19.5–$20.5bn range in 2025 and grows in 2026. ^[55]
Broadband and FWA net adds
- Sustained 200k+ quarterly FWA net adds would support the bull case; a steep drop‑off would point to saturation. ^[56]
Wireless postpaid phone trends
- Watch whether consumer postpaid phone lines move back to net adds instead of small losses, and how Verizon holds up against T‑Mobile and AT&T. ^[57]
Leverage and debt strategy
- Additional debt redemptions, hybrid issuance, and any commentary on target net‑debt‑to‑EBITDA range after the Frontier acquisition closes. ^[58]
Capital allocation beyond the dividend
- If FCF rises materially above dividend + capex and debt needs, the next big question will be share buybacks vs. further deleveraging.

Bottom line

As of 16 November 2025, Verizon (VZ) looks like a high‑yield, low‑multiple telecom undergoing a major shake‑up:

Positives: nearly 7% yield, improving free cash flow, disciplined capex, aggressive cost cuts, growing broadband/FWA base, and emerging 5G / satellite / enterprise opportunities.
Negatives: intense competition, heavy holiday subsidy spend, modest top‑line growth, high leverage and substantial execution risk around the layoffs and strategic pivot.

For investors and traders following VZ on Google News or Discover, the story into 2026 will be all about whether Dan Schulman can turn cost cuts and network assets into sustainable growth — without sacrificing the dividend that currently defines the stock.

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