By otakuyassine3@gmail.com 
Shares of Verizon Communications Inc. (NYSE:VZ – Get Free Report) fell 0.3% on Friday . The company traded as low as $39.81 and last traded at $39.84. 3,094,523 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 18,393,482 shares. The stock had previously closed at $39.96.
Analyst Upgrades and Downgrades
VZ has been the topic of several research reports. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. UBS Group boosted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Raymond James increased their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 24th. Bank of America boosted their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Finally, Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $46.51.
Check Out Our Latest Stock Analysis on VZ
Verizon Communications Price Performance
The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The firm’s fifty day moving average price is $41.86 and its 200 day moving average price is $41.83. The stock has a market cap of $167.63 billion, a PE ratio of 17.16, a P/E/G ratio of 3.05 and a beta of 0.44.
Verizon Communications (NYSE:VZ – Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. As a group, equities analysts expect that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.
Verizon Communications Cuts Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.81%. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.
Institutional Trading of Verizon Communications
Several hedge funds have recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications in the 3rd quarter worth approximately $31,000. Accordant Advisory Group Inc increased its position in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after acquiring an additional 450 shares during the last quarter. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications in the second quarter valued at $32,000. MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications in the 3rd quarter worth about $44,000. Finally, McClarren Financial Advisors Inc. boosted its stake in shares of Verizon Communications by 762.6% during the 3rd quarter. McClarren Financial Advisors Inc. now owns 1,061 shares of the cell phone carrier’s stock worth $48,000 after purchasing an additional 938 shares during the period. 62.06% of the stock is currently 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).
Further Reading
Receive News & Ratings for Verizon Communications Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Verizon Communications and related companies with MarketBeat.com’s FREE daily email newsletter.