Verizon Communications Inc. (NYSE:VZ) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Verizon Communications Inc. (NYSE:VZ) have earned a consensus rating of “Moderate Buy” from the sixteen research firms that are currently covering the stock, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and nine have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $45.66.

A number of analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $42.00 price target on shares of Verizon Communications in a report on Monday, September 9th. TD Cowen upped their price target on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price target for the company. Scotiabank upped their price target 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. Finally, JPMorgan Chase & Co. cut their price target 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.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently modified their holdings of the company. Norges Bank bought a new position in Verizon Communications during the fourth quarter worth $1,882,164,000. Capital World Investors lifted its stake in shares of Verizon Communications by 127.6% in the fourth quarter. Capital World Investors now owns 21,801,067 shares of the cell phone carrier’s stock valued at $821,900,000 after buying an additional 12,220,777 shares in the last quarter. Capital Research Global Investors lifted its stake in shares of Verizon Communications by 92.9% in the fourth quarter. Capital Research Global Investors now owns 22,599,173 shares of the cell phone carrier’s stock valued at $851,989,000 after buying an additional 10,882,873 shares in the last quarter. Swedbank AB bought a new position in shares of Verizon Communications in the first quarter valued at $250,312,000. Finally, Third Point LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at $173,325,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Verizon Communications Stock Performance

NYSE VZ opened at $45.00 on Thursday. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $45.05. The firm has a 50-day moving average price of $41.24 and a two-hundred day moving average price of $40.68. The company has a market capitalization of $189.42 billion, a P/E ratio of 16.79, a P/E/G ratio of 3.99 and a beta of 0.42. 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 issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The business had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.21 earnings per share. Analysts anticipate that Verizon Communications will post 4.58 earnings per share for the current year.

Verizon Communications Increases Dividend

The company 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 dividend of $0.678 per share. The ex-dividend date is Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.03%. Verizon Communications’s dividend payout ratio is 101.12%.

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).