Short Interest in Verizon Communications Inc. (VZ) Grows By 16.3%
Verizon Communications Inc. (NYSE:VZ) saw a large growth in short interest in September. As of September 15th, there was short interest totalling 37,022,879 shares, a growth of 16.3% from the August 31st total of 31,838,713 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 13,664,592 shares, the short-interest ratio is currently 2.7 days.
Several equities research analysts have commented on VZ shares. HSBC restated a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research report on Wednesday. Jefferies Group restated a “hold” rating on shares of Verizon Communications in a research report on Friday, September 2nd. Nomura restated a “hold” rating and set a $47.00 target price on shares of Verizon Communications in a research report on Monday, September 12th. Barclays PLC restated an “equal weight” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Friday, August 26th. Finally, Vetr lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $58.40 target price on the stock. in a research report on Thursday, September 1st. Twenty-four research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $54.48.
Verizon Communications (NYSE:VZ) opened at 51.98 on Friday. Verizon Communications has a 1-year low of $43.24 and a 1-year high of $56.95. The stock has a market capitalization of $211.89 billion, a PE ratio of 14.68 and a beta of 0.26. The stock’s 50 day moving average price is $52.45 and its 200 day moving average price is $52.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The firm earned $30.53 billion during the quarter, compared to analyst estimates of $30.95 billion. During the same period last year, the company posted $1.04 EPS. The business’s quarterly revenue was down 5.3% compared to the same quarter last year. Equities research analysts forecast that Verizon Communications will post $3.89 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be paid a dividend of $0.0125 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio (DPR) is presently 63.84%.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the business’s stock in a transaction on Wednesday, July 27th. The shares were sold at an average price of $54.81, for a total transaction of $36,832.32. Following the sale, the executive vice president now directly owns 11,198 shares in the company, valued at approximately $613,762.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.10% of the company’s stock.
Several large investors have recently bought and sold shares of VZ. Taylor Wealth Management Partners increased its stake in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock worth $127,000 after buying an additional 300 shares during the period. Lowe fs LLC increased its stake in Verizon Communications by 0.8% in the second quarter. Lowe fs LLC now owns 2,356 shares of the cell phone carrier’s stock worth $132,000 after buying an additional 19 shares during the period. First National Bank Sioux Falls increased its stake in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock worth $190,000 after buying an additional 272 shares during the period. Fenimore Asset Management Inc. purchased a new stake in Verizon Communications during the second quarter worth $202,000. Finally, Independence Advisors LLC purchased a new stake in Verizon Communications during the second quarter worth $203,000. 63.47% of the stock is owned by institutional investors.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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