Verizon Communications Inc. (VZ) Receives Average Rating of “Hold” from Analysts
Verizon Communications Inc. (NYSE:VZ) has been assigned a consensus rating of “Hold” from the thirty-one ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, twenty-two have issued a hold recommendation, five have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12 month price objective among analysts that have covered the stock in the last year is $51.10.
Several equities analysts recently commented on VZ shares. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 target price for the company in a research report on Wednesday, June 21st. Cowen and Company restated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, July 19th. ValuEngine downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. Finally, Jefferies Group LLC restated a “hold” rating and set a $50.00 target price on shares of Verizon Communications in a research report on Monday, July 3rd.
In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $48.65, for a total transaction of $29,676.50. Following the sale, the executive vice president now owns 7,209 shares in the company, valued at $350,717.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,830 shares of company stock worth $86,248 in the last quarter. 0.13% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in VZ. Osborn Williams & Donohoe LLC raised its holdings in Verizon Communications by 4.3% during the first quarter. Osborn Williams & Donohoe LLC now owns 32,713 shares of the cell phone carrier’s stock worth $1,595,000 after acquiring an additional 1,361 shares in the last quarter. Weaver C. Barksdale & Associates Inc. increased its position in Verizon Communications by 45.8% during the first quarter. Weaver C. Barksdale & Associates Inc. now owns 24,505 shares of the cell phone carrier’s stock worth $1,195,000 after buying an additional 7,700 shares during the last quarter. Raymond James Trust N.A. increased its position in Verizon Communications by 9.0% during the first quarter. Raymond James Trust N.A. now owns 302,288 shares of the cell phone carrier’s stock worth $14,737,000 after buying an additional 25,044 shares during the last quarter. Nadler Financial Group Inc. increased its position in Verizon Communications by 10.0% during the first quarter. Nadler Financial Group Inc. now owns 11,566 shares of the cell phone carrier’s stock worth $564,000 after buying an additional 1,050 shares during the last quarter. Finally, Waverton Investment Management Ltd increased its position in Verizon Communications by 48.5% during the first quarter. Waverton Investment Management Ltd now owns 360,973 shares of the cell phone carrier’s stock worth $17,597,000 after buying an additional 117,835 shares during the last quarter. Institutional investors and hedge funds own 62.33% of the company’s stock.
Shares of Verizon Communications (NYSE VZ) opened at 46.30 on Tuesday. The firm has a market capitalization of $188.88 billion, a price-to-earnings ratio of 11.90 and a beta of 0.57. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.83. The company’s 50 day moving average price is $47.75 and its 200 day moving average price is $47.16.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion during the quarter, compared to the consensus estimate of $29.84 billion. During the same quarter last year, the company earned $0.94 EPS. The company’s quarterly revenue was up .1% on a year-over-year basis. Analysts forecast that Verizon Communications will post $3.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.10%. The ex-dividend date is Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is presently 59.23%.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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