Verizon Communications Inc. Declares Quarterly Dividend of $0.55 (VZ)
Verizon Communications (NYSE:VZ) announced a quarterly dividend on Thursday, September 4th, ARN reports. Shareholders of record on Friday, October 10th will be paid a dividend of 0.55 per share on Monday, November 3rd. This represents a $2.20 annualized dividend and a dividend yield of 4.41%.
A number of research firms have recently commented on VZ. Analysts at Goldman Sachs initiated coverage on shares of Verizon Communications in a research note on Tuesday. They set a “buy” rating on the stock. On the ratings front, analysts at Zacks reiterated a “neutral” rating on shares of Verizon Communications in a research note on Friday, August 29th. They now have a $52.00 price target on the stock. Finally, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Verizon Communications in a research note on Tuesday, August 26th. They now have a $54.00 price target on the stock. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Verizon Communications has an average rating of “Buy” and an average target price of $52.98.
Shares of Verizon Communications (NYSE:VZ) traded down 0.56% during mid-day trading on Thursday, hitting $49.5999. 3,656,739 shares of the company’s stock traded hands. Verizon Communications has a 52 week low of $45.45 and a 52 week high of $53.66. The stock’s 50-day moving average is $49.81 and its 200-day moving average is $48.56. The company has a market cap of $205.6 billion and a P/E ratio of 10.76.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 22nd. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.90 by $0.01. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $31.10 billion. During the same quarter in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. On average, analysts predict that Verizon Communications will post $3.55 EPS for the current fiscal year.
In other Verizon Communications news, EVP Randal S. Milch sold 2,966 shares of Verizon Communications stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $48.92, for a total value of $145,096.72. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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