Verizon Communications Inc. (NYSE:VZ) Given Average Recommendation of “Hold” by Brokerages
Verizon Communications Inc. (NYSE:VZ) has received an average rating of “Hold” from the thirty-three ratings firms that are currently covering the company. Twenty-four research analysts have rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $54.71.
A number of brokerages have commented on VZ. Argus reiterated a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday, August 6th. Deutsche Bank AG reissued a “hold” rating and issued a $52.00 price objective (up from $50.00) on shares of Verizon Communications in a research report on Thursday, June 16th. Morgan Stanley increased their price objective on shares of Verizon Communications from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Finally, Pacific Crest reissued a “hold” rating on shares of Verizon Communications in a research report on Wednesday, July 27th.
In other Verizon Communications news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction on Friday, August 26th. The stock was sold at an average price of $52.76, for a total value of $35,454.72. Following the completion of the transaction, the executive vice president now owns 10,526 shares in the company, valued at $555,351.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.10% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the company. AMP Capital Investors Ltd increased its position in shares of Verizon Communications by 10.4% in the first quarter. AMP Capital Investors Ltd now owns 1,752,370 shares of the cell phone carrier’s stock valued at $94,698,000 after buying an additional 164,905 shares during the last quarter. Avalon Advisors LLC increased its position in shares of Verizon Communications by 49.3% in the first quarter. Avalon Advisors LLC now owns 1,037,516 shares of the cell phone carrier’s stock valued at $56,109,000 after buying an additional 342,424 shares during the last quarter. State Farm Mutual Automobile Insurance Co. increased its position in shares of Verizon Communications by 1.0% in the first quarter. State Farm Mutual Automobile Insurance Co. now owns 11,321,427 shares of the cell phone carrier’s stock valued at $612,263,000 after buying an additional 115,883 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new position in shares of Verizon Communications during the first quarter valued at $56,662,000. Finally, AMF Pensionsforsakring AB increased its position in shares of Verizon Communications by 6.2% in the first quarter. AMF Pensionsforsakring AB now owns 3,877,936 shares of the cell phone carrier’s stock valued at $209,719,000 after buying an additional 224,753 shares during the last quarter. Institutional investors and hedge funds own 63.47% of the company’s stock.
Verizon Communications (NYSE:VZ) traded down 0.471% during trading on Monday, reaching $51.735. 4,931,579 shares of the company’s stock were exchanged. Verizon Communications has a 52-week low of $43.24 and a 52-week high of $56.95. The firm has a market cap of $210.89 billion, a P/E ratio of 14.614 and a beta of 0.30. 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 results on Tuesday, July 26th. The cell phone carrier reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. The company’s revenue for the quarter was down 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.04 earnings per share. Equities research analysts anticipate that Verizon Communications will post $3.89 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a $0.0125 dividend. The ex-dividend date is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a yield of 0.10%. Verizon Communications’s dividend payout ratio (DPR) is 63.84%.
Verizon Communications Company Profile
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.
Receive News & Stock Ratings for Verizon Communications Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. and related stocks with our FREE daily email newsletter.