Traders Buy High Volume of Put Options on Verizon Communications (VZ)
Verizon Communications (NYSE:VZ) was the target of some unusual options trading on Monday. Stock investors bought 29,565 put options on the company, AnalystRatings.Net reports. This represents an increase of 149% compared to the typical volume of 11,897 put 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, December 24th. Separately, analysts at Jefferies Group initiated coverage on shares of Verizon Communications in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $55.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, December 16th. One analyst has rated the stock with a sell rating, twelve have given a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $56.44.
Verizon Communications (NYSE:VZ) traded down 1.51% during mid-day trading on Monday, hitting $47.03. The stock had a trading volume of 18,809,896 shares. Verizon Communications has a 52 week low of $41.50 and a 52 week high of $54.31. The stock’s 50-day moving average is $48.89 and its 200-day moving average is $49.01. The company has a market cap of $134.6 billion and a P/E ratio of 62.17.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 17th. The company reported $0.77 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.75 by $0.02. The company had revenue of $30.28 billion for the quarter, compared to the consensus estimate of $30.17 billion. During the same quarter in the prior year, the company posted $0.64 earnings per share. The company’s quarterly revenue was up 4.4% on a year-over-year basis. On average, analysts predict that Verizon Communications will post $2.83 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, February 3rd. Stockholders of record on Friday, January 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 4.51%. The ex-dividend date of this dividend is Wednesday, January 8th.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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