Verizon Communications (NYSE:VZ) Trading Up 0%

Verizon Communications Inc. (NYSE:VZ)’s share price shot up 0% during mid-day trading on Wednesday . The company traded as high as $40.88 and last traded at $40.79. 1,672,515 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 18,689,924 shares. The stock had previously closed at $40.78.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price target on shares of Verizon Communications in a report on Tuesday, April 23rd. Wells Fargo & Company dropped their price objective on Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 target price on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $45.78.

Verizon Communications Stock Up 0.1 %

The firm’s 50 day simple moving average is $40.66 and its 200-day simple moving average is $40.49. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market capitalization of $171.86 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. The firm 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 business’s quarterly revenue was up .6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.21 EPS. Equities analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm 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. This represents a $2.66 dividend on an annualized basis and a yield of 6.51%. The ex-dividend date was Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Institutional Trading of Verizon Communications

Hedge funds and other institutional investors have recently modified their holdings of the stock. Koesten Hirschmann & Crabtree INC. bought a new stake in shares of Verizon Communications in the first quarter valued at about $25,000. Criterion Capital Advisors LLC acquired a new stake in Verizon Communications in the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in Verizon Communications in the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications during the 2nd quarter worth approximately $32,000. Finally, MFA Wealth Advisors LLC bought a new position in shares of Verizon Communications during the second quarter worth approximately $33,000. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

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).