Verizon Communications Inc. (NYSE:VZ) Receives Consensus Rating of “Hold” from Analysts

Shares of Verizon Communications Inc. (NYSE:VZGet Rating) have been given an average recommendation of “Hold” by the twenty-one ratings firms that are covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, fourteen have assigned a hold recommendation and two have given a buy recommendation to the company. The average 12-month target price among analysts that have updated their coverage on the stock in the last year is $55.06.

Several research firms recently issued reports on VZ. Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating in a research report on Friday, July 22nd. The Goldman Sachs Group cut Verizon Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $61.00 to $55.00 in a research note on Monday, April 25th. Credit Suisse Group decreased their target price on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, June 21st. Morgan Stanley decreased their price target on Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday, July 25th. Finally, Royal Bank of Canada reduced their price objective on Verizon Communications from $54.00 to $50.00 and set a “maintains” rating for the company in a research note on Monday, July 25th.

Verizon Communications Stock Down 0.0 %

Shares of NYSE:VZ opened at $45.33 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. Verizon Communications has a 1 year low of $43.76 and a 1 year high of $56.20. The stock has a market capitalization of $190.37 billion, a P/E ratio of 9.08, a PEG ratio of 2.20 and a beta of 0.33. The stock has a 50-day simple moving average of $49.66 and a 200-day simple moving average of $51.13.

Verizon Communications (NYSE:VZGet Rating) last released its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing analysts’ consensus estimates of $1.32 by ($0.01). The company had revenue of $33.79 billion during the quarter, compared to analysts’ expectations of $33.77 billion. Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The firm’s revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 EPS. Equities analysts forecast that Verizon Communications will post 5.2 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 8th were paid a dividend of $0.64 per share. The ex-dividend date was Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a yield of 5.65%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction that occurred on Tuesday, July 5th. The shares were sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now owns 33,403 shares of the company’s stock, valued at approximately $1,717,582.26. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In the last quarter, insiders sold 4,674 shares of company stock worth $237,377. Insiders own 0.02% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently bought and sold shares of the business. Wayfinding Financial LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at $467,000. Greenwich Wealth Management LLC boosted its position in Verizon Communications by 25.2% during the fourth quarter. Greenwich Wealth Management LLC now owns 35,652 shares of the cell phone carrier’s stock valued at $1,852,000 after buying an additional 7,187 shares during the period. Octavia Wealth Advisors LLC boosted its position in Verizon Communications by 8.7% during the fourth quarter. Octavia Wealth Advisors LLC now owns 42,401 shares of the cell phone carrier’s stock valued at $2,203,000 after buying an additional 3,383 shares during the period. Claris Advisors LLC MO bought a new position in shares of Verizon Communications during the fourth quarter valued at about $215,000. Finally, ARGI Investment Services LLC raised its stake in shares of Verizon Communications by 10.9% during the fourth quarter. ARGI Investment Services LLC now owns 126,729 shares of the cell phone carrier’s stock valued at $6,585,000 after acquiring an additional 12,487 shares during the last quarter. Institutional investors own 63.78% of the company’s stock.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

Further Reading

Analyst Recommendations for Verizon Communications (NYSE:VZ)

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.