Verizon Communications Inc. (NYSE:VZ) Receives Average Rating of “Moderate Buy” from Brokerages

Verizon Communications Inc. (NYSE:VZ) has been given an average recommendation of “Moderate Buy” by the nineteen ratings firms that are covering the stock, MarketBeat.com reports. Eleven analysts have rated the stock with a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $47.4667.

Several brokerages recently commented on VZ. JPMorgan Chase & Co. dropped their target price on Verizon Communications from $49.00 to $47.00 and set a “neutral” rating on the stock in a report on Thursday, October 30th. Wall Street Zen cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, September 26th. BNP Paribas lowered Verizon Communications from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 21st. Morgan Stanley decreased their target price on Verizon Communications from $48.00 to $47.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Finally, Royal Bank Of Canada dropped their price target on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 30th.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in VZ. Bulwark Capital Corp bought a new stake in shares of Verizon Communications during the 2nd quarter worth $25,000. Advantage Trust Co lifted its holdings in shares of Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. TruNorth Capital Management LLC boosted its position in shares of Verizon Communications by 95.3% in the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after purchasing an additional 305 shares during the period. 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications in the 1st quarter valued at $29,000. Finally, Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications in the 3rd quarter worth about $29,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Verizon Communications Stock Performance

VZ stock opened at $40.46 on Wednesday. The company has a 50-day simple moving average of $40.46 and a 200 day simple moving average of $41.94. The company has a market capitalization of $170.61 billion, a P/E ratio of 8.65, a PEG ratio of 3.51 and a beta of 0.34. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19. Verizon Communications has a fifty-two week low of $37.58 and a fifty-two week high of $47.35.

Verizon Communications (NYSE:VZ) last released its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 EPS for the quarter, beating the consensus estimate of $1.19 by $0.02. The firm had revenue of $33.82 billion for the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. Verizon Communications’s quarterly revenue was up 1.5% on a year-over-year basis. During the same quarter last year, the company earned $1.19 EPS. Sell-side analysts predict that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Monday, January 12th will be issued a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a dividend yield of 6.8%. The ex-dividend date is Monday, January 12th. Verizon Communications’s payout ratio is presently 58.97%.

Verizon Communications Company Profile

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.