Verizon Communications Inc. (NYSE:VZ) Receives Consensus Rating of “Hold” from Brokerages

Verizon Communications Inc. (NYSE:VZGet Rating) has been given an average rating of “Hold” by the twenty-two analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and six have assigned a buy rating to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $48.11.

Several research analysts recently issued reports on VZ shares. Moffett Nathanson raised Verizon Communications from an “underperform” rating to a “market perform” rating and set a $41.00 target price on the stock in a research report on Monday, December 19th. Wells Fargo & Company cut their target price on Verizon Communications from $48.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Friday, October 7th. Citigroup cut their target price on Verizon Communications from $48.00 to $39.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 25th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, October 13th. Finally, Royal Bank of Canada cut their target price on Verizon Communications from $50.00 to $42.00 and set a “sector perform” rating on the stock in a research report on Monday, October 24th.

Institutional Trading of Verizon Communications

A number of hedge funds and other institutional investors have recently made changes to their positions in VZ. Vanguard Group Inc. grew its position in Verizon Communications by 1.1% during the third quarter. Vanguard Group Inc. now owns 349,590,768 shares of the cell phone carrier’s stock worth $13,273,960,000 after buying an additional 3,857,646 shares in the last quarter. BlackRock Inc. grew its position in Verizon Communications by 1.0% during the third quarter. BlackRock Inc. now owns 319,233,100 shares of the cell phone carrier’s stock worth $12,121,282,000 after buying an additional 3,133,547 shares in the last quarter. State Street Corp grew its position in Verizon Communications by 0.8% during the third quarter. State Street Corp now owns 165,028,281 shares of the cell phone carrier’s stock worth $6,266,124,000 after buying an additional 1,298,454 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in Verizon Communications by 5.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 59,782,122 shares of the cell phone carrier’s stock worth $3,045,303,000 after buying an additional 2,934,928 shares in the last quarter. Finally, FMR LLC grew its position in Verizon Communications by 15.1% during the second quarter. FMR LLC now owns 46,131,882 shares of the cell phone carrier’s stock worth $2,341,192,000 after buying an additional 6,042,854 shares in the last quarter. 60.96% of the stock is currently owned by institutional investors.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $40.00 on Friday. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.69 and a current ratio of 0.75. The firm’s 50-day simple moving average is $39.00 and its 200 day simple moving average is $41.02. The stock has a market cap of $167.99 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 2.00 and a beta of 0.37. Verizon Communications has a fifty-two week low of $34.55 and a fifty-two week high of $55.51.

Verizon Communications (NYSE:VZGet Rating) last posted its earnings results on Friday, October 21st. The cell phone carrier reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.04. The company had revenue of $34.20 billion for the quarter, compared to analyst estimates of $33.79 billion. Verizon Communications had a return on equity of 25.80% and a net margin of 14.22%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.41 earnings per share. As a group, research analysts anticipate that Verizon Communications will post 5.18 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 1st. Investors of record on Tuesday, January 10th will be paid a dividend of $0.6525 per share. The ex-dividend date is Monday, January 9th. This represents a $2.61 dividend on an annualized basis and a dividend yield of 6.53%. Verizon Communications’s payout ratio is 56.62%.

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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