Verizon Communications Inc. (NYSE:VZ) Given Consensus Recommendation of “Hold” by Analysts

Shares of Verizon Communications Inc. (NYSE:VZGet Rating) have been given a consensus rating of “Hold” by the seventeen brokerages that are currently covering the stock, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and four have given a buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $57.20.

Several analysts have recently issued reports on VZ shares. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Thursday, May 12th. William Blair restated a “market perform” rating on shares of Verizon Communications in a research report on Monday, April 25th. The Goldman Sachs Group cut Verizon Communications from a “buy” rating to a “neutral” rating and decreased their target price for the company from $61.00 to $55.00 in a research report on Monday, April 25th. Wolfe Research reduced their price target on shares of Verizon Communications from $60.00 to $51.00 and set a “peer perform” rating on the stock in a research note on Thursday, June 2nd. Finally, DZ Bank lowered shares of Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price target on the stock. in a report on Friday, April 29th.

VZ opened at $50.94 on Friday. The firm has a market cap of $213.93 billion, a P/E ratio of 9.89, a price-to-earnings-growth ratio of 2.66 and a beta of 0.41. Verizon Communications has a 52-week low of $45.55 and a 52-week high of $57.61. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.69 and a current ratio of 0.76. The business’s fifty day moving average is $50.75 and its 200-day moving average is $51.92.

Verizon Communications (NYSE:VZGet Rating) last released its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.35. The company had revenue of $33.60 billion for the quarter, compared to analyst estimates of $33.61 billion. Verizon Communications had a return on equity of 28.15% and a net margin of 15.93%. Verizon Communications’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.31 EPS. On average, research analysts predict that Verizon Communications will post 5.4 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be given a dividend of $0.64 per share. The ex-dividend date is Thursday, July 7th. This represents a $2.56 annualized dividend and a yield of 5.03%. Verizon Communications’s dividend payout ratio is presently 49.71%.

In other news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $50.94, for a total value of $79,364.52. Following the transaction, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,780,913.34. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Tami A. Erwin sold 23,647 shares of the business’s stock in a transaction that occurred on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the transaction, the chief executive officer now owns 21,817 shares in the company, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,321 shares of company stock worth $1,415,192. 0.10% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently modified their holdings of VZ. Keudell Morrison Wealth Management lifted its position in shares of Verizon Communications by 0.9% during the 3rd quarter. Keudell Morrison Wealth Management now owns 47,613 shares of the cell phone carrier’s stock valued at $2,572,000 after acquiring an additional 448 shares during the period. CoreFirst Bank & Trust increased its stake in Verizon Communications by 0.8% during the 3rd quarter. CoreFirst Bank & Trust now owns 50,426 shares of the cell phone carrier’s stock valued at $2,723,000 after purchasing an additional 419 shares in the last quarter. Jacobi Capital Management LLC increased its stake in Verizon Communications by 18.7% during the 3rd quarter. Jacobi Capital Management LLC now owns 87,578 shares of the cell phone carrier’s stock valued at $4,730,000 after purchasing an additional 13,800 shares in the last quarter. MD Financial Management Inc. increased its stake in Verizon Communications by 6.9% during the 3rd quarter. MD Financial Management Inc. now owns 98,428 shares of the cell phone carrier’s stock valued at $5,316,000 after purchasing an additional 6,362 shares in the last quarter. Finally, London & Capital Asset Management Ltd increased its stake in Verizon Communications by 11.0% during the 3rd quarter. London & Capital Asset Management Ltd now owns 551,141 shares of the cell phone carrier’s stock valued at $29,767,000 after purchasing an additional 54,508 shares in the last quarter. Hedge funds and other institutional investors own 63.78% of the company’s stock.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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