A number of research firms have changed their ratings and price targets for Verizon Communications (NYSE: VZ):

  • 9/19/2016 – Verizon Communications had its “hold” rating reaffirmed by analysts at Jefferies Group.
  • 9/12/2016 – Verizon Communications was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $58.40 price target on the stock.
  • 9/12/2016 – Verizon Communications had its “hold” rating reaffirmed by analysts at Nomura. They now have a $47.00 price target on the stock.
  • 9/2/2016 – Verizon Communications had its “hold” rating reaffirmed by analysts at Jefferies Group.
  • 9/1/2016 – Verizon Communications was downgraded by analysts at Vetr from a “strong-buy” rating to a “buy” rating. They now have a $58.40 price target on the stock.
  • 8/26/2016 – Verizon Communications had its “equal weight” rating reaffirmed by analysts at Barclays PLC. They now have a $52.00 price target on the stock.
  • 8/18/2016 – Verizon Communications was upgraded by analysts at Vetr from a “buy” rating to a “strong-buy” rating. They now have a $60.00 price target on the stock.
  • 8/10/2016 – Verizon Communications had its “buy” rating reaffirmed by analysts at Vetr.
  • 8/6/2016 – Verizon Communications had its “hold” rating reaffirmed by analysts at Jefferies Group.
  • 8/2/2016 – Verizon Communications was downgraded by analysts at Imperial Capital from an “outperform” rating to an “in-line” rating. They now have a $60.00 price target on the stock, up previously from $50.00.
  • 7/28/2016 – Verizon Communications had its price target raised by analysts at Morgan Stanley from $59.00 to $60.00. They now have an “overweight” rating on the stock.
  • 7/27/2016 – Verizon Communications had its price target raised by analysts at FBR & Co from $54.00 to $57.00. They now have an “outperform” rating on the stock.
  • 7/27/2016 – Verizon Communications was downgraded by analysts at Hilliard Lyons from a “buy” rating to a “neutral” rating. They now have a $53.00 price target on the stock.
  • 7/27/2016 – Verizon Communications had its “in-line” rating reaffirmed by analysts at Drexel Hamilton. They wrote, “We expect another slow quarter in 3Q as the world awaits Apple’s (AAPL – Buy) new iPhone.””
  • 7/27/2016 – Verizon Communications had its “buy” rating reaffirmed by analysts at Argus. They now have a $60.00 price target on the stock.
  • 7/27/2016 – Verizon Communications had its “hold” rating reaffirmed by analysts at Pacific Crest.
  • 7/27/2016 – Verizon Communications had its price target raised by analysts at JPMorgan Chase & Co. from $50.00 to $56.00. They now have a “neutral” rating on the stock.
  • 7/26/2016 – Verizon Communications was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating.
  • 7/25/2016 – Verizon Communications had its “buy” rating reaffirmed by analysts at RBC Capital Markets.

Shares of Verizon Communications Inc. (NYSE:VZ) traded up 1.17% during midday trading on Wednesday, reaching $51.87. 14,434,013 shares of the company were exchanged. The stock has a market capitalization of $211.44 billion, a P/E ratio of 14.65 and a beta of 0.26. The company has a 50 day moving average price of $52.81 and a 200-day moving average price of $52.85. Verizon Communications Inc. has a 12-month low of $42.20 and a 12-month high of $56.95.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. During the same period in the previous year, the firm earned $1.04 EPS. The firm’s revenue was down 5.3% compared to the same quarter last year. On average, analysts forecast that Verizon Communications Inc. will post $3.89 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be issued a $0.0125 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. Verizon Communications’s dividend payout ratio is presently 63.84%.

In related news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $52.76, for a total value of $35,454.72. Following the transaction, the executive vice president now directly owns 10,526 shares of the company’s stock, valued at approximately $555,351.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.10% of the stock is owned by corporate insiders.

Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.

5 Day Chart for NYSE:VZ

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