Verizon Communications Inc. (NYSE:VZ) – Investment analysts at KeyCorp boosted their FY2018 earnings per share estimates for Verizon Communications in a research report issued to clients and investors on Monday, according to Zacks Investment Research. KeyCorp analyst B. Nispel now forecasts that the cell phone carrier will post earnings per share of $4.04 for the year, up from their prior forecast of $4.03. KeyCorp has a “Hold” rating on the stock.
Several other equities research analysts have also recently commented on the company. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Monday, October 23rd. Macquarie reaffirmed a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Sunday, October 22nd. Bank of America Corporation set a $52.00 price target on Verizon Communications and gave the company a “buy” rating in a report on Friday, October 20th. SunTrust Banks, Inc. reaffirmed a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a report on Friday, October 20th. Finally, Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Two equities research analysts have rated the stock with a sell rating, twenty have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $52.75.
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Verizon Communications (NYSE VZ) opened at $44.88 on Wednesday. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $183,085.31, a P/E ratio of 11.97, a price-to-earnings-growth ratio of 4.22 and a beta of 0.55.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter in the prior year, the firm earned $1.01 earnings per share. The business’s revenue was up 2.5% compared to the same quarter last year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were issued a $0.59 dividend. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 5.26%. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the sale, the executive vice president now directly owns 6,599 shares in the company, valued at $324,868.77. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last 90 days, insiders sold 1,830 shares of company stock worth $89,365. 0.13% of the stock is owned by insiders.
A number of institutional investors have recently bought and sold shares of VZ. Capital Research Global Investors raised its stake in Verizon Communications by 15.1% in the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after buying an additional 20,070,391 shares in the last quarter. FMR LLC raised its stake in Verizon Communications by 15.0% in the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after buying an additional 8,077,275 shares in the last quarter. Vanguard Group Inc. raised its stake in Verizon Communications by 2.1% in the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after buying an additional 5,837,702 shares in the last quarter. Franklin Resources Inc. raised its stake in Verizon Communications by 19.9% in the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after buying an additional 3,623,182 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Verizon Communications by 52.6% in the second quarter. Principal Financial Group Inc. now owns 9,014,846 shares of the cell phone carrier’s stock valued at $402,604,000 after buying an additional 3,107,054 shares in the last quarter. Institutional investors own 62.05% of the company’s stock.
About Verizon Communications
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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