Verizon Communications Now Covered by Analysts at BTIG Research (VZ)
Research analysts at BTIG Research began coverage on shares of Verizon Communications (NYSE:VZ) in a report released on Tuesday, TheFlyOnTheWall.com reports. The firm set a “buy” rating and a $60.00 price target on the stock. BTIG Research’s price objective indicates a potential upside of 22.62% from the stock’s previous close.
Verizon Communications (NYSE:VZ) opened at 48.93 on Tuesday. Verizon Communications has a 52 week low of $45.08 and a 52 week high of $51.94. The stock’s 50-day moving average is $49.22 and its 200-day moving average is $47.94. The company has a market cap of $202.6 billion and a P/E ratio of 10.93.
Verizon Communications (NYSE:VZ) last released its earnings data 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. Analysts expect that Verizon Communications will post $3.54 EPS 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 4.33%. The ex-dividend date of this dividend is Tuesday, July 8th.
A number of other analysts have also recently weighed in on VZ. Analysts at Macquarie reiterated an “outperform” rating on shares of Verizon Communications in a research note on Wednesday, June 18th. They now have a $53.00 price target on the stock. Separately, 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. Finally, 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. Seven research analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $52.06.
In other Verizon Communications news, EVP Randal S. Milch sold 2,966 shares of Verizon Communications stock in a transaction that occurred on Monday, June 23rd. The stock was sold at an average price of $49.39, for a total transaction of $146,490.74. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
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.