Verizon Communications Inc. (NYSE:VZ) Given Average Rating of “Moderate Buy” by Analysts

Shares of Verizon Communications Inc. (NYSE:VZ) have been assigned an average recommendation of “Moderate Buy” from the seventeen analysts that are currently covering the firm, MarketBeat.com reports. Seven equities research analysts have rated the stock with a hold recommendation and ten have assigned a buy recommendation to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $45.68.

Several research firms recently commented on VZ. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Scotiabank lifted their price objective on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $42.00 price objective on shares of Verizon Communications in a report on Tuesday, July 23rd. Finally, Wells Fargo & Company reduced their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd.

Verizon Communications Price Performance

Shares of VZ stock opened at $40.09 on Wednesday. The stock has a market cap of $168.75 billion, a price-to-earnings ratio of 14.96, a PEG ratio of 3.65 and a beta of 0.41. The business’s fifty day moving average is $40.58 and its 200 day moving average is $40.45. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42. The company has a quick ratio of 0.67, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last released its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the prior year, the firm posted $1.21 earnings per share. The company’s quarterly revenue was up .6% on a year-over-year basis. Research analysts expect that Verizon Communications will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 6.64%. Verizon Communications’s payout ratio is currently 99.25%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Norges Bank bought a new stake in Verizon Communications during the 4th quarter valued at approximately $1,882,164,000. Capital World Investors raised its stake in Verizon Communications by 127.6% during the 4th quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after purchasing an additional 12,220,777 shares during the period. Capital Research Global Investors raised its stake in Verizon Communications by 92.9% during the 4th quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock valued at $851,989,000 after purchasing an additional 10,882,873 shares during the period. Swedbank AB bought a new stake in Verizon Communications during the 1st quarter valued at approximately $250,312,000. Finally, Third Point LLC bought a new stake in Verizon Communications during the 4th quarter valued at approximately $173,325,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).