Verizon Communications Inc. (NYSE:VZ – Get Free Report) shares were up 0.3% during trading on Friday after UBS Group raised their price target on the stock from $44.00 to $45.00. UBS Group currently has a neutral rating on the stock. Verizon Communications traded as high as $40.26 and last traded at $40.10. Approximately 6,543,111 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 18,324,270 shares. The stock had previously closed at $39.97.
A number of other equities research analysts have also recently commented on the stock. Royal Bank of Canada raised their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, September 23rd. Citigroup upped their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Bank of America upped their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Finally, Scotiabank boosted their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. Ten investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Hold” and an average price target of $46.51.
Read Our Latest Stock Report on VZ
Institutional Inflows and Outflows
Verizon Communications Trading Up 0.6 %
The business’s 50-day simple moving average is $42.23 and its two-hundred day simple moving average is $41.88. The firm has a market capitalization of $169.27 billion, a price-to-earnings ratio of 17.33, a PEG ratio of 3.05 and a beta of 0.44. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.
Verizon Communications (NYSE:VZ – Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. Equities analysts forecast that Verizon Communications Inc. will post 4.61 earnings per share for the current year.
Verizon Communications Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.74%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s payout ratio is presently 116.81%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).
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