Verizon Communications Sees Unusually High Options Volume (VZ)
Shares of Verizon Communications (NYSE:VZ) saw unusually large options trading activity on Friday. Traders acquired 25,261 call options on the company, AnalystRatingsNetwork reports. This represents an increase of approximately 131% compared to the average volume of 10,942 call options.
VZ has been the subject of a number of recent research reports. Analysts at Evercore Partners upgraded shares of Verizon Communications (NYSE:VZ) from an “equal weight” rating to an “overweight” rating in a research note to investors on Friday. They now have a $53.00 price target on the stock. They noted that the move was a valuation call. Separately, 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. Finally, 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.
Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $54.45.
Shares of Verizon Communications (NYSE:VZ) traded up 0.87% on Friday, hitting $47.76. The stock had a trading volume of 16,631,810 shares. Verizon Communications has a 1-year low of $40.51 and a 1-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 $136.7 billion and a P/E ratio of 86.72.
Verizon Communications (NYSE:VZ) last released its earnings data on Thursday, July 18th. The company reported $0.73 earnings per share for the quarter, meeting the analysts’ 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. Analysts expect that Verizon Communications will post $2.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.48%. The ex-dividend date is Tuesday, October 8th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.52.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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