Shares of Verizon Communications Inc. (NYSE:VZ – Get Free Report) have been given an average recommendation of “Moderate Buy” by the fourteen analysts that are currently covering the firm, MarketBeat.com reports. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $44.77.
A number of equities analysts recently weighed in on the stock. Wells Fargo & Company lowered their price objective on shares of 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. Tigress Financial increased their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Tuesday, April 23rd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Finally, Royal Bank of Canada increased their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd.
View Our Latest Research Report on VZ
Institutional Investors Weigh In On Verizon Communications
Verizon Communications Price Performance
NYSE:VZ opened at $40.94 on Tuesday. Verizon Communications has a one year low of $30.14 and a one year high of $43.42. The company has a debt-to-equity ratio of 1.42, a quick ratio of 0.67 and a current ratio of 0.71. The firm has a market cap of $172.33 billion, a price-to-earnings ratio of 15.28, a PEG ratio of 3.00 and a beta of 0.42. The firm’s fifty day moving average is $40.27 and its two-hundred day moving average is $39.78.
Verizon Communications (NYSE:VZ – Get Free Report) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion for the quarter, compared to analyst estimates of $33.23 billion. During the same period in the prior year, the company posted $1.20 EPS. The company’s revenue for the quarter was up .3% on a year-over-year basis. Research analysts expect that Verizon Communications will post 4.59 EPS for the current year.
Verizon Communications Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.50%. Verizon Communications’s payout ratio is 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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