Verizon Communications (NYSE:VZ) Stock Price Up 0.5%

Verizon Communications Inc. (NYSE:VZ) was up 0.5% during mid-day trading on Friday . The stock traded as high as $41.10 and last traded at $41.06. Approximately 1,832,027 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 18,423,215 shares. The stock had previously closed at $40.87.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on VZ shares. Tigress Financial lifted their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. JPMorgan Chase & Co. reduced their price target on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $42.00 price target on shares of Verizon Communications in a research report on Tuesday, July 23rd. Finally, Scotiabank lifted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a report on Wednesday, July 10th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.78.

Verizon Communications Stock Performance

The company has a 50-day moving average price of $40.68 and a two-hundred day moving average price of $40.44. The stock has a market capitalization of $173.13 billion, a P/E ratio of 15.32, a PEG ratio of 3.72 and a beta of 0.41. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period in the prior year, the business posted $1.21 earnings per share. The company’s revenue was up .6% on a year-over-year basis. Equities analysts expect that Verizon Communications Inc. will post 4.58 earnings per share for the current year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.47%. The ex-dividend date was Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Koesten Hirschmann & Crabtree INC. bought a new position in shares of Verizon Communications in the first quarter worth approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications in the fourth quarter worth approximately $29,000. Mizuho Securities Co. Ltd. purchased a new stake in Verizon Communications in the second quarter worth approximately $32,000. MFA Wealth Advisors LLC bought a new position in Verizon Communications during the second quarter valued at approximately $33,000. Finally, Vima LLC bought a new position in Verizon Communications during the fourth quarter valued at approximately $36,000. 62.06% of the stock is currently owned by institutional investors.

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).