Brokerages Set Verizon Communications Inc. (VZ) PT at $53.33
Verizon Communications Inc. (NYSE:VZ) has earned a consensus rating of “Hold” from the twenty-eight brokerages that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and ten have assigned a buy rating to the company. The average twelve-month target price among brokerages that have issued a report on the stock in the last year is $53.48.
VZ has been the subject of a number of recent analyst reports. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research report on Monday, November 20th. Instinet increased their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $61.00 in a research report on Tuesday, December 12th. SunTrust Banks reiterated a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Finally, Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.13% of the company’s stock.
Shares of Verizon Communications (NYSE:VZ) traded down $0.57 during trading on Friday, hitting $49.51. 17,449,018 shares of the company were exchanged, compared to its average volume of 18,830,000. The firm has a market cap of $201,970.00, a PE ratio of 15.19, a P/E/G ratio of 2.04 and a beta of 0.58. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The firm had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the business earned $0.86 EPS. equities analysts predict that Verizon Communications will post 4.54 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.59 dividend. This represents a $2.36 annualized dividend and a yield of 4.77%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s payout ratio is presently 72.39%.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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