Verizon Communications (NYSE:VZ) Trading Down 0.2%

Verizon Communications Inc. (NYSE:VZ)’s stock price traded down 0.2% during trading on Tuesday . The company traded as low as $40.35 and last traded at $40.43. 1,771,940 shares were traded during trading, a decline of 91% from the average session volume of 18,712,119 shares. The stock had previously closed at $40.53.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on VZ shares. Tigress Financial raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. The Goldman Sachs Group started coverage on Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock. TD Cowen raised their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Wells Fargo & Company decreased their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 23rd. Finally, StockNews.com upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Seven analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $45.78.

Verizon Communications Stock Performance

The firm has a market capitalization of $171.57 billion, a PE ratio of 15.09, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. The stock has a 50-day moving average price of $40.68 and a 200-day moving average price of $40.50.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.21 earnings per share. On average, research analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current fiscal year.

Verizon Communications Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were paid a $0.665 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.53%. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Hedge Funds Weigh In On Verizon Communications

Hedge funds have recently bought and sold shares of the company. Criterion Capital Advisors LLC acquired a new position in Verizon Communications in the fourth quarter valued at approximately $25,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications during the first quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth approximately $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications during the second quarter worth approximately $32,000. Finally, MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications during the second quarter worth approximately $33,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).