Verizon Communications Inc. (NYSE:VZ)‘s stock had its “hold” rating reissued by research analysts at HSBC in a report issued on Wednesday. They presently have a $54.00 target price on the cell phone carrier’s stock. HSBC’s price target would indicate a potential upside of 3.61% from the stock’s current price.
A number of other brokerages also recently issued reports on VZ. Macquarie reissued a “neutral” rating and set a $55.00 price objective on shares of Verizon Communications in a research report on Wednesday, July 6th. RBC Capital Markets reissued a “buy” rating on shares of Verizon Communications in a research report on Monday, July 25th. Oppenheimer Holdings Inc. reissued an “outperform” rating on shares of Verizon Communications in a research report on Friday, July 8th. Morgan Stanley cut Verizon Communications from an “overweight” rating to an “equal weight” rating in a report on Tuesday, July 26th. Finally, Deutsche Bank AG restated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a report on Friday, July 15th. Twenty-four research analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $54.48.
Verizon Communications (NYSE:VZ) opened at 52.12 on Wednesday. The stock’s 50 day moving average is $52.50 and its 200 day moving average is $52.83. The firm has a market cap of $212.46 billion, a P/E ratio of 14.72 and a beta of 0.26. Verizon Communications has a 12-month low of $42.20 and a 12-month high of $56.95.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to the consensus estimate of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company’s quarterly revenue was down 5.3% on a year-over-year basis. During the same period last year, the company earned $1.04 EPS. On average, equities research analysts expect that Verizon Communications will post $3.89 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be given a dividend of $0.0125 per share. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. Verizon Communications’s payout ratio is 63.84%.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $52.40, for a total transaction of $35,212.80. Following the sale, the executive vice president now directly owns 9,854 shares in the company, valued at $516,349.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.10% of the company’s stock.
A number of hedge funds have recently bought and sold shares of 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, Independence Advisors LLC purchased a new stake in Verizon Communications during the second quarter worth approximately $203,000. Institutional investors 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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