Vetr upgraded shares of Verizon Communications (NYSE:VZ) from a buy rating to a strong-buy rating in a research report report published on Tuesday morning. Vetr currently has $54.80 price objective on the cell phone carrier’s stock.
A number of other research firms also recently commented on VZ. Scotiabank raised Verizon Communications from a sector perform rating to a buy rating and set a $60.00 target price for the company in a report on Monday, January 22nd. Scotia Howard Weill raised Verizon Communications from a sector perform rating to a sector outperform rating in a report on Monday, January 22nd. Zacks Investment Research raised Verizon Communications from a hold rating to a buy rating and set a $56.00 target price for the company in a report on Tuesday, February 13th. Moffett Nathanson downgraded Verizon Communications from a buy rating to a neutral rating in a report on Tuesday, January 16th. Finally, Wells Fargo & Co raised Verizon Communications from a market perform rating to an outperform rating and set a $50.00 target price for the company in a report on Monday, November 20th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average target price of $53.51.
Shares of Verizon Communications (NYSE VZ) opened at $48.92 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The firm has a market capitalization of $199,570.00, a price-to-earnings ratio of 15.01, a P/E/G ratio of 2.04 and a beta of 0.58.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. During the same period in the prior year, the business earned $0.86 earnings per share. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. analysts anticipate that Verizon Communications will post 4.54 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.82%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the transaction, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The disclosure for this sale can be found here. Insiders own 0.13% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VZ. Caxton Associates LP purchased a new stake in Verizon Communications in the 2nd quarter valued at about $607,000. DekaBank Deutsche Girozentrale grew its holdings in Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock valued at $74,961,000 after buying an additional 72,980 shares during the period. Canada Pension Plan Investment Board grew its holdings in Verizon Communications by 1.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock valued at $478,051,000 after buying an additional 136,700 shares during the period. Alps Advisors Inc. grew its holdings in Verizon Communications by 5.2% in the 2nd quarter. Alps Advisors Inc. now owns 1,018,021 shares of the cell phone carrier’s stock valued at $45,465,000 after buying an additional 50,602 shares during the period. Finally, E&G Advisors LP grew its holdings in Verizon Communications by 18.2% in the 3rd quarter. E&G Advisors LP now owns 24,735 shares of the cell phone carrier’s stock valued at $1,224,000 after buying an additional 3,803 shares during the period. Hedge funds and other institutional investors own 64.21% of the company’s stock.
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About Verizon Communications
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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