Moffett Nathanson cut shares of Verizon Communications (NYSE:VZ) from a buy rating to a neutral rating in a research note issued to investors on Tuesday morning, MarketBeat Ratings reports.
Several other research firms have also issued reports on VZ. Macquarie reaffirmed a hold rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. SunTrust Banks reaffirmed a hold rating and issued a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Wells Fargo & Co raised Verizon Communications from a market perform rating to an outperform rating and set a $50.00 price target for the company in a research report on Monday, November 20th. Instinet lifted their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, December 12th. Finally, Cowen reaffirmed a hold rating and issued a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Two investment analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications has a consensus rating of Hold and an average target price of $51.98.
Verizon Communications (NYSE:VZ) traded down $0.17 on Tuesday, hitting $51.55. The stock had a trading volume of 29,442,502 shares, compared to its average volume of 15,884,816. 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 stock has a market cap of $210,830.00, a price-to-earnings ratio of 13.22, a PEG ratio of 4.63 and a beta of 0.57. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $53.69.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s quarterly revenue was up 2.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.01 EPS. equities analysts anticipate that Verizon Communications will post 3.77 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Beacon Financial Group grew its stake in shares of Verizon Communications by 4.0% during the 2nd quarter. Beacon Financial Group now owns 180,977 shares of the cell phone carrier’s stock valued at $8,037,000 after acquiring an additional 7,019 shares during the period. Conservest Capital Advisors Inc. grew its stake in shares of Verizon Communications by 0.5% during the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after acquiring an additional 23 shares during the period. First Command Bank grew its stake in shares of Verizon Communications by 63.4% during the 2nd quarter. First Command Bank now owns 41,220 shares of the cell phone carrier’s stock valued at $1,842,000 after acquiring an additional 15,991 shares during the period. Hexavest Inc. grew its stake in shares of Verizon Communications by 24.8% during the 2nd quarter. Hexavest Inc. now owns 4,161,638 shares of the cell phone carrier’s stock valued at $185,859,000 after acquiring an additional 826,932 shares during the period. Finally, Salem Capital Management Inc. grew its stake in shares of Verizon Communications by 0.9% during the 2nd quarter. Salem Capital Management Inc. now owns 83,050 shares of the cell phone carrier’s stock valued at $3,709,000 after acquiring an additional 700 shares during the period. 63.22% of the stock is owned by hedge funds and other institutional investors.
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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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