Verizon Communications Target of Unusually High Options Trading (VZ)
Verizon Communications (NYSE:VZ) was the recipient of unusually large options trading activity on Friday. Stock traders acquired 16,094 put options on the stock, AnalystRatingsNetwork.com reports. This represents an increase of approximately 135% compared to the typical daily volume of 6,859 put options.
VZ has been the subject of a number of recent research reports. 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 equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $54.91.
Verizon Communications (NYSE:VZ) traded down 0.48% during mid-day trading on Monday, hitting $47.55. The stock had a trading volume of 1,735,973 shares. Verizon Communications has a one year low of $40.51 and a one 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 $136.1 billion and a price-to-earnings ratio of 87.51.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data 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 in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 4.3% on a year-over-year basis. On average, analysts predict that Verizon Communications will post $2.78 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, November 1st. Shareholders 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 4.44%. The ex-dividend date of this dividend 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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