Stock Traders Purchase High Volume of Verizon Communications Call Options (VZ)
Shares of Verizon Communications (NYSE:VZ) saw some unusual options trading activity on Monday. Traders acquired 44,136 call options on the company, American Banking News.com reports. This represents an increase of 253% compared to the typical daily volume of 12,518 call options.
A number of research firms have recently commented on VZ. Analysts at TheStreet reiterated a “buy” rating on shares of Verizon Communications in a research note to investors on Tuesday, October 1st. Separately, analysts at Credit Suisse initiated coverage on shares of Verizon Communications in a research note to investors on Tuesday, September 17th. They set a “neutral” rating and a $52.00 price target on the stock. Two analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications presently has an average rating of “Buy” and an average target price of $54.91.
Shares of Verizon Communications (NYSE:VZ) traded up 0.40% on Monday, hitting $47.29. 45,133,320 shares of the company’s stock traded hands. Verizon Communications has a 52-week low of $40.51 and a 52-week high of $54.31. The stock has a 50-day moving average of $47.25 and a 200-day moving average of $49.78. The company has a market cap of $135.3 billion and a P/E ratio of 86.26.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, July 18th. The company reported $0.73 earnings per share (EPS) for the quarter, meeting the 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 previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.3% on a year-over-year basis.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders 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 boost from Verizon Communications’s previous quarterly dividend of $0.52.
Verizon Communications Inc (NYSE:VZ) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.