Verizon Communications Inc. (VZ) Given Hold Rating at KeyCorp

KeyCorp reiterated their hold rating on shares of Verizon Communications Inc. (NYSE:VZ) in a research report report published on Wednesday.

VZ has been the topic of several other research reports. Goldman Sachs Group, Inc. (The) restated a neutral rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Vetr upgraded Verizon Communications from a buy rating to a strong-buy rating and set a $50.65 price target on the stock in a research report on Wednesday, July 5th. Zacks Investment Research upgraded Verizon Communications from a sell rating to a hold rating in a research report on Friday, July 7th. BidaskClub upgraded Verizon Communications from a strong sell rating to a sell rating in a research report on Monday, July 31st. Finally, Cowen and Company restated a hold rating and issued a $49.00 price target on shares of Verizon Communications in a research report on Wednesday, July 19th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $52.86.

Shares of Verizon Communications (NYSE VZ) opened at 47.86 on Wednesday. The firm’s 50-day moving average price is $48.46 and its 200 day moving average price is $47.03. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83. The stock has a market cap of $195.24 billion, a P/E ratio of 12.30 and a beta of 0.56.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.96. The firm had revenue of $30.55 billion for the quarter, compared to analysts’ expectations of $29.84 billion. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm’s revenue for the quarter was up .1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.94 EPS. On average, equities analysts expect that Verizon Communications will post $3.76 earnings per share for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be paid a $0.59 dividend. The ex-dividend date of this dividend is Friday, October 6th. This represents a $2.36 dividend on an annualized basis and a yield of 4.93%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio is presently 60.51%.

In related news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The transaction was disclosed in a filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,830 shares of company stock worth $88,828. 0.13% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new position in Verizon Communications in the 1st quarter valued at $136,000. American Beacon Advisors Inc. acquired a new position in Verizon Communications in the 1st quarter valued at $140,000. Proficio Capital Partners LLC raised its holdings in Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after acquiring an additional 1,841 shares during the last quarter. Private Vista LLC raised its holdings in Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications in the 2nd quarter valued at $156,000. Institutional investors own 62.24% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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