Investors Purchase Large Volume of Call Options on Verizon Communications (VZ)
Shares of Verizon Communications (NYSE:VZ) saw some unusual options trading on Friday. Traders acquired 24,118 call options on the stock, American Banking and Market News reports. This is an increase of 137% compared to the typical volume of 10,197 call options.
A number of analysts have recently weighed in on VZ shares. Analysts at Credit Suisse initiated coverage on shares of Verizon Communications (NYSE:VZ) in a research note to investors on Tuesday, September 17th. They set a “neutral” rating and a $52.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Verizon Communications (NYSE:VZ) in a research note to investors on Tuesday, September 17th. Finally, analysts at RBC Capital upgraded shares of Verizon Communications (NYSE:VZ) from a “sector perform” rating to an “outperform” rating in a research note to investors on Tuesday, September 17th. They now have a $54.00 price target on the stock, up previously from $48.30.
Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $54.91.
Verizon Communications (NYSE:VZ) opened at 47.78 on Monday. Verizon Communications has a 1-year low of $40.51 and a 1-year high of $54.31. The stock’s 50-day moving average is $47.94 and its 200-day moving average is $49.84. The company has a market cap of $136.7 billion and a price-to-earnings ratio of 87.51.
Verizon Communications (NYSE:VZ) last announced its earnings results 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. On average, analysts predict that Verizon Communications will post $2.78 earnings per share 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 4.44%. 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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