Verizon Communications Inc. (NYSE:VZ) has been given an average recommendation of “Buy” by the twenty-five research firms that are currently covering the stock, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $55.42.
Several equities research analysts recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Verizon Communications in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 target price for the company. Moffett Nathanson reissued a “neutral” rating and issued a $56.00 price target on shares of Verizon Communications in a research report on Tuesday, September 4th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Jefferies Financial Group initiated coverage on shares of Verizon Communications in a research report on Thursday, June 7th. They issued a “hold” rating and a $52.00 price target for the company. Finally, Robert W. Baird increased their price target on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th.
Several hedge funds and other institutional investors have recently bought and sold shares of VZ. HC Financial Advisors Inc. acquired a new stake in shares of Verizon Communications during the fourth quarter worth approximately $1,371,000. James Hambro & Partners bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $786,000. Harwood Advisory Group LLC grew its stake in shares of Verizon Communications by 52.0% during the fourth quarter. Harwood Advisory Group LLC now owns 9,137 shares of the cell phone carrier’s stock valued at $484,000 after purchasing an additional 3,126 shares during the last quarter. Lazard Asset Management LLC grew its stake in shares of Verizon Communications by 228.7% during the fourth quarter. Lazard Asset Management LLC now owns 1,101,039 shares of the cell phone carrier’s stock valued at $58,277,000 after purchasing an additional 766,062 shares during the last quarter. Finally, Icon Wealth Partners LLC bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $542,000. 63.99% of the stock is owned by institutional investors.
Shares of NYSE VZ traded up $0.45 during mid-day trading on Friday, hitting $53.59. The company had a trading volume of 12,864,400 shares, compared to its average volume of 15,630,216. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.92 and a current ratio of 0.96. Verizon Communications has a 12 month low of $43.97 and a 12 month high of $55.42. The stock has a market cap of $218.99 billion, a PE ratio of 14.36, a PEG ratio of 1.93 and a beta of 0.69.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.06. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The business had revenue of $32.20 billion during the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter last year, the company earned $0.96 earnings per share. The firm’s revenue was up 5.4% on a year-over-year basis. research analysts forecast that Verizon Communications will post 4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 1st. Stockholders of record on Wednesday, October 10th will be issued a dividend of $0.6025 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.50%. Verizon Communications’s dividend payout ratio (DPR) is presently 63.10%.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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