Verizon Communications Inc. (NYSE:VZ) Receives $45.68 Consensus Target Price from Analysts

Verizon Communications Inc. (NYSE:VZ) has earned a consensus rating of “Moderate Buy” from the seventeen research firms that are presently 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 1-year price target among brokerages that have updated their coverage on the stock in the last year is $45.68.

Several equities analysts recently commented on the stock. Tigress Financial increased their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. TD Cowen raised their price objective on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Oppenheimer restated an “outperform” rating and set a $48.00 price target on shares of Verizon Communications in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd.

Verizon Communications Trading Up 0.0 %

Shares of VZ stock opened at $40.04 on Wednesday. The business has a 50-day moving average price of $40.58 and a two-hundred day moving average price of $40.47. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The firm has a market cap of $168.55 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 3.65 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 in the prior year, the firm earned $1.21 earnings per share. Verizon Communications’s revenue for the quarter was up .6% on a year-over-year basis. Equities analysts anticipate that Verizon Communications will post 4.58 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 6.64%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s payout ratio is 99.25%.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently bought and sold shares of the stock. ZRC Wealth Management LLC lifted its stake in shares of Verizon Communications by 264.4% in the 4th quarter. ZRC Wealth Management LLC now owns 1,891 shares of the cell phone carrier’s stock valued at $71,000 after purchasing an additional 1,372 shares during the period. Assenagon Asset Management S.A. grew its stake in Verizon Communications by 272.6% in the fourth quarter. Assenagon Asset Management S.A. now owns 680,776 shares of the cell phone carrier’s stock worth $25,665,000 after purchasing an additional 498,063 shares during the period. Aprio Wealth Management LLC bought a new position in Verizon Communications in the fourth quarter worth $258,000. Blackston Financial Advisory Group LLC purchased a new position in Verizon Communications during the fourth quarter valued at $531,000. Finally, Trust Co of the South bought a new stake in shares of Verizon Communications during the 4th quarter valued at $226,000. 62.06% of the stock is owned by 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).