Verizon Communications Inc. (VZ) Receives $51.10 Average PT from Analysts
Shares of Verizon Communications Inc. (NYSE:VZ) have received a consensus recommendation of “Hold” from the thirty-one analysts that are covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, twenty-two have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $51.10.
VZ has been the subject of a number of research analyst reports. Macquarie restated a “neutral” rating and set a $49.00 price objective (down previously from $50.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Jefferies Group LLC restated a “hold” rating and set a $50.00 price objective (down previously from $51.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Deutsche Bank AG restated a “hold” rating and set a $46.00 price objective (down previously from $47.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Instinet restated a “neutral” rating and set a $46.00 price objective (down previously from $47.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Finally, Vetr upgraded Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $53.00 price objective for the company in a research report on Monday, April 24th.
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Verizon Communications (NYSE:VZ) traded up 0.94% on Friday, hitting $48.14. 9,851,469 shares of the company traded hands. The stock’s 50-day moving average is $46.01 and its 200 day moving average is $47.29. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.83. The stock has a market cap of $196.38 billion, a PE ratio of 12.38 and a beta of 0.56. Verizon Communications also was the recipient of some unusual options trading on Friday. Stock investors acquired 13,890 put options on the company. This represents an increase of approximately 129% compared to the average daily volume of 6,078 put options.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.96. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business’s quarterly revenue was up .1% compared to the same quarter last year. During the same quarter last year, the business posted $0.94 earnings per share. Equities research analysts expect that Verizon Communications will post $3.79 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th were paid a dividend of $0.5775 per share. This represents a $2.31 annualized dividend and a dividend yield of 4.80%. The ex-dividend date was Thursday, July 6th. Verizon Communications’s dividend payout ratio is presently 59.23%.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the completion of the transaction, the executive vice president now owns 8,429 shares of the company’s stock, valued at $379,305. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold 1,830 shares of company stock valued at $84,229 in the last three months. 0.13% of the stock is currently owned by insiders.
A number of institutional investors have recently modified their holdings of the company. Ronna Sue Cohen increased its position in shares of Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock worth $216,000 after buying an additional 19 shares during the period. Oakmont Partners LLC increased its position in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after buying an additional 22 shares during the period. Conservest Capital Advisors Inc. increased its position in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after buying an additional 23 shares during the period. Regal Wealth Group Inc. increased its position 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 worth $164,000 after buying an additional 24 shares during the period. Finally, Glassman Wealth Services increased its position in shares of Verizon Communications by 0.4% in the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after buying an additional 31 shares during the period. 62.33% of the stock is 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.
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