Verizon Communications Inc. (NYSE:VZ) Announces Quarterly Dividend of $0.71

Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend on Thursday, June 4th. Shareholders of record on Friday, July 10th will be paid a dividend of 0.7075 per share by the cell phone carrier on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 6.3%. The ex-dividend date is Friday, July 10th.

Verizon Communications has increased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 20 consecutive years. Verizon Communications has a dividend payout ratio of 58.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Verizon Communications to earn $5.25 per share next year, which means the company should continue to be able to cover its $2.83 annual dividend with an expected future payout ratio of 53.9%.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $44.87 on Friday. Verizon Communications has a fifty-two week low of $38.39 and a fifty-two week high of $51.68. The business has a 50-day moving average of $47.64 and a two-hundred day moving average of $45.27. The stock has a market capitalization of $187.37 billion, a P/E ratio of 10.94, a P/E/G ratio of 1.11 and a beta of 0.24. The company has a debt-to-equity ratio of 1.38, a current ratio of 0.64 and a quick ratio of 0.61.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 earnings per share for the quarter, topping analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a return on equity of 19.25% and a net margin of 12.46%.The company had revenue of $34.44 billion during the quarter, compared to analysts’ expectations of $34.82 billion. During the same quarter in the previous year, the firm earned $1.19 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. On average, equities research analysts predict that Verizon Communications will post 4.96 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the company. Erste Group Bank reissued a “hold” rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Wells Fargo & Company boosted their price objective on Verizon Communications from $44.00 to $46.00 and gave the stock an “equal weight” rating in a research report on Tuesday, April 28th. Barclays boosted their price objective on Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 31st. JPMorgan Chase & Co. boosted their price objective on Verizon Communications from $49.00 to $52.00 and gave the stock a “neutral” rating in a research report on Thursday, April 30th. Finally, Oppenheimer boosted their price objective on Verizon Communications from $50.00 to $56.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 11th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $50.59.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.