Verizon Communications Inc. (NYSE:VZ) Receives $45.78 Average PT from Brokerages

Verizon Communications Inc. (NYSE:VZ) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the stock, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and nine have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $45.78.

A number of brokerages have commented on VZ. Scotiabank boosted their target price 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. JPMorgan Chase & Co. reduced their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Tigress Financial upped their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective on the stock.

Verizon Communications Stock Down 0.4 %

NYSE:VZ opened at $40.87 on Friday. Verizon Communications has a 1-year low of $30.14 and a 1-year high of $43.42. The company has a 50-day moving average of $40.68 and a 200 day moving average of $40.44. The firm has a market cap of $172.03 billion, a PE ratio of 15.25, 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.

Verizon Communications (NYSE:VZ) last announced its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the previous year, the company posted $1.21 earnings per share. As a group, research analysts anticipate that Verizon Communications will post 4.58 EPS 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 issued a $0.665 dividend. The ex-dividend date of this dividend was Wednesday, July 10th. This represents a $2.66 annualized dividend and a yield of 6.51%. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds have recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter valued at approximately $25,000. Criterion Capital Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at approximately $29,000. Mizuho Securities Co. Ltd. purchased a new position in shares of Verizon Communications during the 2nd quarter valued at approximately $32,000. Finally, MFA Wealth Advisors LLC purchased a new position in shares of Verizon Communications during the 2nd quarter valued at approximately $33,000. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).