Verizon Communications (NYSE:VZ) Trading Down 1.1% – Here’s What Happened

Verizon Communications Inc. (NYSE:VZ) shares dropped 1.1% during mid-day trading on Monday . The stock traded as low as $41.63 and last traded at $42.09. Approximately 54,989,954 shares traded hands during trading, an increase of 86% from the average daily volume of 29,515,740 shares. The stock had previously closed at $42.56.

Analyst Ratings Changes

Several analysts recently issued reports on the stock. Citigroup upped their price objective on shares of Verizon Communications from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Barclays upped their price target on Verizon Communications from $43.00 to $47.00 and gave the company an “equal weight” rating in a research report on Tuesday, March 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Verizon Communications in a report on Friday, May 29th. Morgan Stanley lifted their price objective on Verizon Communications from $49.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Finally, Erste Group Bank restated a “hold” rating on shares of Verizon Communications in a report on Tuesday, May 5th. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and a consensus price target of $50.59.

Verizon Communications Trading Down 1.1%

The stock has a market cap of $175.75 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 1.04 and a beta of 0.26. The company’s 50-day moving average price is $46.56 and its 200 day moving average price is $45.95. The company has a debt-to-equity ratio of 1.38, a quick ratio of 0.61 and a current ratio of 0.64.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion for the quarter, compared to the consensus estimate of $34.82 billion. During the same quarter in the previous year, the business earned $1.19 earnings per share. The company’s revenue for the quarter was up 2.7% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, sell-side analysts forecast that Verizon Communications Inc. will post 4.98 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be given a $0.7075 dividend. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.7%. Verizon Communications’s payout ratio is presently 69.02%.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors have recently modified their holdings of VZ. Strengthening Families & Communities LLC boosted its holdings in Verizon Communications by 490.0% during the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 539 shares during the period. Robinswood Financial LLC acquired a new stake in shares of Verizon Communications during the first quarter worth about $27,000. Holos Integrated Wealth LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth about $28,000. Lam Group Inc. purchased a new position in shares of Verizon Communications in the first quarter valued at approximately $28,000. Finally, Foster Dykema Cabot & Partners LLC acquired a new stake in Verizon Communications during the 3rd quarter worth approximately $29,000. 62.06% of the stock is owned by institutional investors and hedge funds.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.