Verizon Communications Inc. (NYSE:VZ) Receives $46.26 Average PT from Analysts

Shares of Verizon Communications Inc. (NYSE:VZ) have received a consensus recommendation of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Eight analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $46.26.

Several research firms have issued reports on VZ. Raymond James boosted their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, September 24th. Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. Bank of America upped their target price on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, JPMorgan Chase & Co. cut their price target on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd.

Verizon Communications Trading Up 0.3 %

Shares of NYSE VZ opened at $44.13 on Monday. Verizon Communications has a fifty-two week low of $30.62 and a fifty-two week high of $45.36. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The company has a market cap of $185.75 billion, a price-to-earnings ratio of 16.47, a PEG ratio of 4.03 and a beta of 0.42. The business’s 50 day moving average price is $42.44 and its 200-day moving average price is $41.18.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business’s revenue was up .6% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 earnings per share. On average, sell-side analysts expect that Verizon Communications will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be issued a dividend of $0.678 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.15%. The ex-dividend date of this dividend is Thursday, October 10th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio is currently 101.12%.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently added to or reduced their stakes in the business. Swedbank AB purchased a new stake in shares of Verizon Communications during the first quarter valued at $250,312,000. Third Point LLC purchased a new stake in Verizon Communications during the 4th quarter valued at about $173,325,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in shares of Verizon Communications by 419.8% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after purchasing an additional 4,152,099 shares during the period. DekaBank Deutsche Girozentrale raised its stake in shares of Verizon Communications by 112.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock worth $273,507,000 after purchasing an additional 3,481,936 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Verizon Communications by 18.6% during the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock worth $536,791,000 after purchasing an additional 2,040,247 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).