Verizon Communications Inc. (NYSE:VZ) Receives Consensus Rating of “Hold” from Analysts

Verizon Communications Inc. (NYSE:VZ) has received a consensus rating of “Hold” from the eighteen ratings firms that are presently covering the stock, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $46.51.

A number of research analysts have commented on the company. Tigress Financial upped their price target on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Raymond James raised their price objective on shares of Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, September 24th. Bank of America increased their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. Citigroup lifted their price objective on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock.

Verizon Communications Stock Down 0.1 %

Shares of NYSE:VZ opened at $39.93 on Friday. The firm has a market capitalization of $168.09 billion, a PE ratio of 17.21, a price-to-earnings-growth ratio of 3.05 and a beta of 0.44. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. Verizon Communications has a 52-week low of $37.15 and a 52-week high of $45.36. The firm has a fifty day moving average of $42.17 and a 200 day moving average of $41.87.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the previous year, the business earned $1.22 earnings per share. The company’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts anticipate that Verizon Communications will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.6775 per share. The ex-dividend date is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.79%. Verizon Communications’s payout ratio is presently 116.81%.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently modified their holdings of VZ. Capital Performance Advisors LLP bought a new position in Verizon Communications in the third quarter worth approximately $31,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications in the 2nd quarter worth $32,000. Accordant Advisory Group Inc increased its holdings in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the period. MidAtlantic Capital Management Inc. acquired a new stake in Verizon Communications during the 3rd quarter worth about $44,000. Finally, Denver PWM LLC purchased a new stake in Verizon Communications in the 2nd quarter worth approximately $46,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

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).