Investors Purchase Large Volume of Verizon Communications Put Options (VZ)
Shares of Verizon Communications (NYSE:VZ) was the recipient of some unusual options trading activity on Thursday. Traders acquired 12,162 put options on the stock, Analyst Ratings Network.com reports. This represents an increase of approximately 103% compared to the average daily volume of 6,004 put options.
VZ has been the subject of a number of recent research reports. Analysts at Cowen and Company cut their price target on shares of Verizon Communications (NYSE:VZ) from $51.00 to $49.00 in a research note to investors on Wednesday, September 4th. They now have a “hold” rating on the stock. Separately, analysts at Argus downgraded shares of Verizon Communications (NYSE:VZ) from a “buy” rating to a “hold” rating in a research note to investors on Wednesday, September 4th. Finally, analysts at Robert W. Baird upgraded shares of Verizon Communications (NYSE:VZ) from a “neutral” rating to an “outperform” rating in a research note to investors on Wednesday, September 4th. They now have a $53.00 price target on the stock, up previously from $52.00.
Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $54.45.
Shares of Verizon Communications (NYSE:VZ) traded up 1.78% during mid-day trading on Thursday, hitting $47.35. The stock had a trading volume of 18,127,832 shares. Verizon Communications has a one year low of $40.51 and a one year high of $54.31. The stock has a 50-day moving average of $48.32 and a 200-day moving average of $49.7. The company has a market cap of $135.5 billion and a price-to-earnings ratio of 85.20.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, July 18th. The company reported $0.73 EPS for the quarter, meeting the Thomson Reuters consensus estimate of $0.73. The company had revenue of $27.79 billion for the quarter, compared to the consensus estimate of $29.83 billion. During the same quarter last year, the company posted $0.64 earnings per share. Verizon Communications’s revenue was up 4.3% compared to the same quarter last year. On average, analysts predict that Verizon Communications will post $2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 4.48%. The ex-dividend date of this dividend is Tuesday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.52.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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