Verizon Communications Inc. (VZ) Given “Neutral” Rating at BTIG Research
A number of other equities analysts have also weighed in on VZ. Jefferies Group reissued a hold rating on shares of Verizon Communications in a research report on Monday, September 19th. Vetr lowered Verizon Communications from a strong-buy rating to a buy rating and set a $58.40 target price for the company. in a research report on Thursday, September 22nd. HSBC reissued a hold rating and issued a $54.00 target price on shares of Verizon Communications in a research report on Wednesday, September 28th. Zacks Investment Research lowered Verizon Communications from a hold rating to a sell rating in a research report on Wednesday, October 19th. Finally, Goldman Sachs Group, Inc. (The) reissued a neutral rating and issued a $51.00 target price on shares of Verizon Communications in a research report on Sunday, October 23rd. One investment analyst has rated the stock with a sell rating, twenty-two have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of Hold and a consensus target price of $54.19.
Shares of Verizon Communications (NYSE:VZ) traded down 0.25% during trading on Thursday, reaching $52.55. 9,458,280 shares of the company’s stock were exchanged. Verizon Communications has a 12 month low of $43.79 and a 12 month high of $56.95. The stock has a 50-day moving average price of $52.25 and a 200 day moving average price of $52.03. The firm has a market cap of $214.23 billion, a price-to-earnings ratio of 15.32 and a beta of 0.40.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Thursday, October 20th. The cell phone carrier reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.02. The firm earned $30.90 billion during the quarter, compared to analyst estimates of $31.08 billion. Verizon Communications had a return on equity of 78.75% and a net margin of 10.97%. Verizon Communications’s quarterly revenue was down 6.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.04 EPS. On average, analysts forecast that Verizon Communications will post $3.89 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 1st. Shareholders of record on Tuesday, January 10th will be paid a $0.5775 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.01. The ex-dividend date of this dividend is Friday, January 6th. This represents a $2.31 dividend on an annualized basis and a yield of 4.40%. Verizon Communications’s dividend payout ratio (DPR) is presently 67.15%.
In related news, EVP Craig L. Silliman sold 672 shares of the firm’s stock in a transaction dated Wednesday, October 26th. The stock was sold at an average price of $47.76, for a total transaction of $32,094.72. Following the sale, the executive vice president now owns 9,182 shares of the company’s stock, valued at $438,532.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Craig L. Silliman sold 668 shares of the firm’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $49.29, for a total value of $32,925.72. Following the sale, the executive vice president now directly owns 6,047 shares in the company, valued at approximately $298,056.63. The disclosure for this sale can be found here. 0.10% of the stock is owned by company insiders.
Large investors have recently modified their holdings of the stock. Guidant Wealth Advisors acquired a new stake in Verizon Communications during the third quarter worth approximately $107,000. Taylor Wealth Management Partners boosted its stake in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Lowe fs LLC boosted its stake in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the period. Solaris Asset Management LLC acquired a new stake in Verizon Communications during the third quarter worth approximately $125,000. Finally, Ruggie Capital Group boosted its stake in Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock worth $137,000 after buying an additional 9 shares during the period. 62.29% of the stock is currently owned by institutional investors.
Verizon Communications Company Profile
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.
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