Verizon Communications Stock Rating Reaffirmed by TheStreet (VZ)
Verizon Communications (NYSE:VZ)‘s stock had its “buy” rating reiterated by TheStreet in a research note issued on Tuesday, AnalystRatingsNetwork reports.
The analysts wrote, “Verizon Communications (VZ) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.”
Verizon Communications (NYSE:VZ) traded up 0.64% on Tuesday, hitting $46.975. The stock had a trading volume of 3,880,877 shares. Verizon Communications has a 52 week low of $40.51 and a 52 week high of $54.31. The stock’s 50-day moving average is $47.48 and its 200-day moving average is $49.84. The company has a market cap of $134.4 billion and a P/E ratio of 85.49.
Verizon Communications (NYSE:VZ) last issued its quarterly 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 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. Investors 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 4.54%. The ex-dividend date of this dividend is Tuesday, October 8th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.52.
A number of other analysts have also recently weighed in on VZ. 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 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. Finally, 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, September 13th. They now have a $53.00 price target on the stock. They noted that the move was a valuation call. 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. Verizon Communications has an average rating of “Buy” and a consensus target price of $54.91.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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