Verizon Communications Inc. (NYSE:VZ) has received an average recommendation of “Hold” from the thirty-three analysts that are presently covering the stock. Twenty-four analysts have rated the stock with a hold recommendation, eight have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $54.71.
A number of research analysts recently issued reports on the company. Argus reiterated a “buy” rating on shares of Verizon Communications in a report on Sunday, June 12th. Jefferies Group reiterated a “hold” rating on shares of Verizon Communications in a report on Saturday, August 6th. Deutsche Bank AG reiterated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Friday, July 15th. Hilliard Lyons lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $53.00 target price for the company. in a report on Wednesday, July 27th. Finally, Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $58.40 target price for the company in a report on Wednesday, September 28th.
Shares of Verizon Communications (NYSE:VZ) traded down 0.471% on Monday, hitting $51.735. The stock had a trading volume of 4,932,724 shares. Verizon Communications has a 12-month low of $43.24 and a 12-month high of $56.95. The stock has a 50 day moving average price of $52.45 and a 200-day moving average price of $52.83. The company has a market cap of $210.89 billion, a price-to-earnings ratio of 14.614 and a beta of 0.30.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. Verizon Communications’s revenue was down 5.3% compared to the same quarter last year. During the same period last year, the business posted $1.04 earnings per share. On average, equities analysts expect that Verizon Communications will post $3.89 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be paid a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date of this dividend is Wednesday, October 5th. Verizon Communications’s dividend payout ratio is presently 63.84%.
In other news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction on Wednesday, July 27th. The stock was sold at an average price of $54.81, for a total transaction of $36,832.32. Following the completion of the sale, the executive vice president now directly owns 11,198 shares in the company, valued at approximately $613,762.38. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in VZ. Taylor Wealth Management Partners increased its stake in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the last quarter. Lowe fs LLC increased its stake in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the last quarter. First National Bank Sioux Falls increased its stake in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock worth $190,000 after buying an additional 272 shares during the last quarter. Fenimore Asset Management Inc. purchased a new stake in Verizon Communications during the second quarter worth approximately $202,000. Finally, Family Firm Inc. purchased a new stake in Verizon Communications during the second quarter worth approximately $203,000. Institutional investors and hedge funds own 63.47% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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