Investors Buy Shares of Verizon Communications (VZ) on Weakness
Traders purchased shares of Verizon Communications Inc. (NYSE:VZ) on weakness during trading hours on Friday. $221.80 million flowed into the stock on the tick-up and $119.70 million flowed out of the stock on the tick-down, for a money net flow of $102.10 million into the stock. Of all companies tracked, Verizon Communications had the 3rd highest net in-flow for the day. Verizon Communications traded down ($0.25) for the day and closed at $51.86
VZ has been the topic of a number of recent analyst reports. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Saturday, October 21st. Cowen reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. Macquarie reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. Two investment analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $51.98.
The company has a market capitalization of $211,560.00, a PE ratio of 13.30, a price-to-earnings-growth ratio of 4.71 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02.
Verizon Communications (NYSE:VZ) last released its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the business earned $1.01 earnings per share. equities analysts forecast that Verizon Communications Inc. will post 3.77 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 dividend on an annualized basis and a yield of 4.55%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s payout ratio is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Legacy Advisors LLC bought a new position in shares of Verizon Communications in the third quarter valued at approximately $132,000. Shine Investment Advisory Services Inc. raised its stake in shares of Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares during the last quarter. Private Vista LLC raised its stake in shares of Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the last quarter. Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications in the second quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. raised its stake in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the last quarter. 63.21% of the stock is currently owned by institutional investors.
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.
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with Analyst Ratings Network's FREE daily email newsletter.