Verizon Communications Target of Unusually High Options Trading (VZ)
Verizon Communications (NYSE:VZ) was the target of some unusual options trading on Monday. Stock investors purchased 42,439 call options on the stock, Analyst Ratings Net reports. This is an increase of approximately 358% compared to the average daily volume of 9,260 call options.
In other Verizon Communications news, EVP Randal S. Milch sold 2,966 shares of the stock on the open market in a transaction dated Monday, June 23rd. The shares were sold at an average price of $49.39, for a total transaction of $146,490.74. The sale was disclosed in a document filed with the SEC, which is available at this link.
A number of analysts have recently weighed in on VZ shares. Analysts at BTIG Research initiated coverage on shares of Verizon Communications in a research note on Tuesday, July 1st. They set a “buy” rating and a $60.00 price target on the stock. Separately, 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. Finally, 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. Seven analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $52.06.
Verizon Communications (NYSE:VZ) traded up 0.08% during mid-day trading on Monday, hitting $49.75. The stock had a trading volume of 13,935,926 shares. Verizon Communications has a 1-year low of $45.08 and a 1-year high of $51.94. The stock’s 50-day moving average is $49.35 and its 200-day moving average is $47.97. The company has a market cap of $206.0 billion and a P/E ratio of 11.11.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, April 24th. The company reported $0.84 earnings per share (EPS) for the quarter, missing the 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 in the previous year, the company posted $0.68 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. 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. Stockholders 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 4.26%. The ex-dividend date of this dividend is Tuesday, July 8th.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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