Verizon Communications Inc. (NYSE:VZ – Get Free Report) has received a consensus recommendation of “Moderate Buy” from the seventeen ratings firms that are presently covering the company, Marketbeat reports. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $45.68.
A number of brokerages have commented on VZ. Wells Fargo & Company decreased their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research note on Tuesday, July 23rd. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Oppenheimer reiterated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company.
Check Out Our Latest Stock Analysis on VZ
Institutional Investors Weigh In On Verizon Communications
Verizon Communications Price Performance
Shares of NYSE:VZ opened at $40.04 on Wednesday. The company has a market capitalization of $168.55 billion, a PE ratio of 14.94, a price-to-earnings-growth ratio of 3.65 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The stock has a fifty day moving average of $40.58 and a 200-day moving average of $40.47. Verizon Communications has a one year low of $30.14 and a one year high of $43.42.
Verizon Communications (NYSE:VZ – Get Free Report) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion during the quarter, compared to analyst estimates of $33.05 billion. During the same quarter last year, the company posted $1.21 EPS. Verizon Communications’s revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts anticipate that Verizon Communications will post 4.58 EPS for the current fiscal year.
Verizon Communications Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.64%. Verizon Communications’s dividend payout ratio (DPR) is currently 99.25%.
Verizon Communications Company Profile
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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