Verizon Communications Inc. (NYSE:VZ) Declares Quarterly Dividend of $0.71

Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend on Wednesday, September 9th. Stockholders of record on Friday, October 9th will be paid a dividend of 0.7075 per share by the cell phone carrier on Monday, November 2nd. This represents a c) dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date is Friday, October 9th.

Verizon Communications has raised its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 20 years. Verizon Communications has a dividend payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Verizon Communications to earn $5.29 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 53.5%.

Verizon Communications Price Performance

Verizon Communications stock opened at $49.70 on Thursday. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a fifty day simple moving average of $46.76 and a 200-day simple moving average of $47.51. The stock has a market cap of $206.48 billion, a P/E ratio of 12.94, a price-to-earnings-growth ratio of 1.71 and a beta of 0.26. Verizon Communications has a 12-month low of $38.39 and a 12-month high of $51.68.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. The company had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.Verizon Communications’s quarterly revenue was down .7% on a year-over-year basis. During the same period last year, the firm earned $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Equities analysts expect that Verizon Communications will post 5.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VZ has been the topic of several research analyst reports. Wells Fargo & Company raised their target price on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Barclays upped their price target on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a report on Monday, July 27th. Scotiabank increased their price target on shares of Verizon Communications from $51.50 to $52.50 and gave the company a “sector outperform” rating in a research note on Monday, July 27th. Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a research report on Monday, July 27th. Finally, Morgan Stanley boosted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, July 27th. Eight investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $50.97.

About Verizon Communications

Verizon Communications Inc is a telecommunications company that provides wireless communications, broadband, and related technology services. Its offerings include mobile voice and data plans, 5G connectivity, fixed wireless access, fiber-optic internet through Verizon Fios, home services, and connected-device solutions.

Through Verizon Business, the company serves enterprises, government agencies, and other organizations with communications networks, managed connectivity, cybersecurity, cloud and edge-computing services, unified communications, and Internet of Things solutions.