Verizon Communications Inc. (NYSE:VZ) Receives $44.77 Average PT from Brokerages

Shares of Verizon Communications Inc. (NYSE:VZ) have been given a consensus rating of “Moderate Buy” by the fifteen ratings firms that are currently covering the company, MarketBeat reports. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $45.14.

Several research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Monday. They set a “buy” rating and a $50.00 price objective for the company. Oppenheimer reissued an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Tigress Financial lifted their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Wells Fargo & Company lowered their target price 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. Finally, StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th.

Verizon Communications Stock Up 0.0 %

Shares of VZ opened at $41.11 on Friday. The business’s 50 day moving average is $40.16 and its 200 day moving average is $40.11. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a market capitalization of $173.04 billion, a PE ratio of 15.34, a price-to-earnings-growth ratio of 3.75 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter last year, the business posted $1.20 earnings per share. The company’s revenue for the quarter was up .3% compared to the same quarter last year. Research analysts expect that Verizon Communications will post 4.59 earnings per share 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. Shareholders of record on Wednesday, July 10th will be paid a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.47%. Verizon Communications’s payout ratio is 99.25%.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently added to or reduced their stakes in VZ. Pacifica Partners Inc. boosted its holdings in shares of Verizon Communications by 4.6% in the fourth quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier’s stock valued at $223,000 after purchasing an additional 255 shares during the period. Private Portfolio Partners LLC increased its position in Verizon Communications by 0.9% during the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after purchasing an additional 255 shares during the period. Selective Wealth Management Inc. raised its holdings in shares of Verizon Communications by 2.8% in the 4th quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier’s stock valued at $374,000 after purchasing an additional 257 shares in the last quarter. BKM Wealth Management LLC lifted its position in shares of Verizon Communications by 7.4% in the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock worth $156,000 after purchasing an additional 257 shares during the period. Finally, Horizon Bancorp Inc. IN boosted its stake in shares of Verizon Communications by 24.9% during the fourth quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 258 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).