Verizon Communications Rating Reiterated by Macquarie (VZ)
Verizon Communications (NYSE:VZ)‘s stock had its “outperform” rating restated by analysts at Macquarie in a research report issued to clients and investors on Wednesday. They currently have a $53.00 price objective on the stock. Macquarie’s target price indicates a potential upside of 7.70% from the company’s current price.
VZ has been the subject of a number of other recent research reports. Analysts at Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Thursday, May 22nd. They set an “outperform” rating on the stock. Separately, analysts at Bernstein initiated coverage on shares of Verizon Communications in a research note on Wednesday, May 21st. They set an “outperform” rating and a $57.00 price target on the stock. Finally, analysts at Zacks reiterated a “neutral” rating on shares of Verizon Communications in a research note on Friday, May 9th. They now have a $51.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the stock. Verizon Communications has an average rating of “Buy” and a consensus target price of $51.59.
Shares of Verizon Communications (NYSE:VZ) traded down 0.59% during mid-day trading on Wednesday, hitting $48.92. 4,899,759 shares of the company’s stock traded hands. Verizon Communications has a one year low of $45.08 and a one year high of $51.94. The stock’s 50-day moving average is $48.75 and its 200-day moving average is $47.92. The company has a market cap of $202.6 billion and a price-to-earnings ratio of 10.99.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.87 by $0.03. The company had revenue of $31.82 billion for the quarter, compared to the consensus estimate of $30.70 billion. During the same quarter last year, the company posted $0.68 earnings per share. Verizon Communications’s revenue was up 4.8% compared to the same quarter last year. On average, analysts predict that Verizon Communications will post $3.54 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Friday, August 1st. Investors of record on Thursday, July 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 4.31%. The ex-dividend date of this dividend is Tuesday, July 8th.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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