Verizon Communications Inc. (VZ) Given Average Recommendation of “Hold” by Analysts

Verizon Communications Inc. (NYSE:VZ) has been assigned an average recommendation of “Hold” from the twenty-eight analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have assigned a buy rating to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $53.33.

Several research analysts have weighed in on VZ shares. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. SunTrust Banks increased their price target on shares of Verizon Communications to $58.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Bank of America increased their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, January 24th. Finally, Scotia Howard Weill raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd.

Shares of Verizon Communications (VZ) opened at $49.04 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The stock has a market cap of $200,060.00, a PE ratio of 6.66, a PEG ratio of 2.07 and a beta of 0.58. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. analysts predict that Verizon Communications will post 4.54 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Investors of record on Wednesday, January 10th were given a dividend of $0.59 per share. The ex-dividend date of this dividend was Tuesday, January 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.81%. Verizon Communications’s dividend payout ratio is 32.07%.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.13% of the company’s stock.

Institutional investors have recently modified their holdings of the business. Whitnell & Co. boosted its position in Verizon Communications by 1.2% in the second quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock valued at $461,000 after buying an additional 125 shares in the last quarter. Caxton Associates LP bought a new position in shares of Verizon Communications during the second quarter valued at $607,000. DekaBank Deutsche Girozentrale raised its stake in shares of Verizon Communications by 4.6% during the second quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after acquiring an additional 72,980 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in shares of Verizon Communications by 1.3% during the second quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after acquiring an additional 136,700 shares during the last quarter. Finally, Alps Advisors Inc. raised its stake in shares of Verizon Communications by 5.2% during the second quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after acquiring an additional 50,602 shares during the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.

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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.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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