Verizon Communications (NYSE:VZ) PT Raised to $55.00 at Tigress Financial

Verizon Communications (NYSE:VZ) had its price objective raised by Tigress Financial from $52.00 to $55.00 in a research note published on Tuesday morning, Benzinga reports. The firm currently has a buy rating on the cell phone carrier’s stock.

Several other equities analysts have also recently weighed in on the stock. Royal Bank of Canada increased their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a sector perform rating in a research note on Monday, September 23rd. Bank of America raised their price target on Verizon Communications from $41.00 to $45.00 and gave the company a neutral rating in a report on Thursday, September 26th. JPMorgan Chase & Co. reduced their price objective on Verizon Communications from $46.00 to $45.00 and set a neutral rating on the stock in a research note on Tuesday, July 23rd. Citigroup upped their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a buy rating in a report on Wednesday, September 25th. Finally, Raymond James upped their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an outperform rating in a report on Tuesday, September 24th. Eight research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, Verizon Communications has a consensus rating of Moderate Buy and a consensus target price of $46.26.

Verizon Communications Price Performance

VZ opened at $44.17 on Tuesday. 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 fifty day simple moving average of $42.28 and a two-hundred day simple moving average of $41.11. The company has a market cap of $185.90 billion, a price-to-earnings ratio of 16.48, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $45.36.

Verizon Communications (NYSE:VZ) last issued its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS 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 business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same period last year, the business posted $1.21 EPS. The company’s revenue was up .6% compared to the same quarter last year. Research analysts predict that Verizon Communications will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be given a $0.678 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.14%. Verizon Communications’s dividend payout ratio (DPR) is presently 101.12%.

Institutional Investors Weigh In On Verizon Communications

A number of large investors have recently made changes to their positions in the stock. Koesten Hirschmann & Crabtree INC. purchased a new stake in Verizon Communications in the first quarter valued at $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications in the 4th quarter worth $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications in the second quarter worth approximately $33,000. Finally, Vima LLC acquired a new stake in shares of Verizon Communications during the 4th quarter worth about $36,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).