Vetr upgraded shares of Verizon Communications (NYSE:VZ) from a hold rating to a buy rating in a research report released on Monday, February 5th. They currently have $54.80 price objective on the cell phone carrier’s stock.
A number of other brokerages have also recently commented on VZ. KeyCorp boosted their price target on Verizon Communications from $50.00 to $53.00 and gave the stock a sector weight rating in a research report on Tuesday, January 2nd. Macquarie reissued a hold rating and issued a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, January 24th. SunTrust Banks boosted their price target on Verizon Communications to $58.00 and gave the stock a hold rating in a research report on Wednesday, January 24th. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. boosted their price target on Verizon Communications from $52.00 to $58.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $53.37.
Verizon Communications (NYSE:VZ) traded up $0.25 during trading on Monday, reaching $50.11. The company’s stock had a trading volume of 16,900,000 shares, compared to its average volume of 18,430,000. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market cap of $204,420.00, a PE ratio of 6.81, a price-to-earnings-growth ratio of 2.03 and a beta of 0.58. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.86 earnings per share. equities analysts forecast that Verizon Communications will post 4.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a $0.59 dividend. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 annualized dividend and a yield of 4.71%. Verizon Communications’s dividend payout ratio (DPR) is presently 32.07%.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.13% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Capital Research Global Investors increased its stake in shares of Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after purchasing an additional 20,070,391 shares in the last quarter. FMR LLC increased its stake in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after purchasing an additional 8,077,275 shares in the last quarter. Boston Partners increased its stake in shares of Verizon Communications by 1,252.0% in the 4th quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock worth $422,724,000 after purchasing an additional 7,395,776 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Verizon Communications by 14.1% in the 4th quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock worth $2,580,337,000 after purchasing an additional 6,007,544 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after purchasing an additional 5,837,702 shares in the last quarter. Institutional investors and hedge funds own 63.31% of the company’s stock.
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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.
To view Vetr’s full report, visit Vetr’s official website.
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