Recent Analysts’ Ratings Changes for Verizon Communications (VZ)

Several analysts have recently updated their ratings and price targets for Verizon Communications (NYSE: VZ):

• 12/20/2024 – Verizon Communications had its price target raised by analysts at UBS Group AG from $44.00 to $45.00. They now have a “neutral” rating on the stock.
• 12/16/2024 – Verizon Communications was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 12/10/2024 – Verizon Communications is now covered by analysts at Sanford C. Bernstein. They set a “market perform” rating and a $48.00 price target on the stock.
• 12/8/2024 – Verizon Communications was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.
• 11/30/2024 – Verizon Communications was downgraded by analysts at StockNews.com from a “strong-buy” rating to a “buy” rating.
• 11/22/2024 – Verizon Communications was upgraded by analysts at StockNews.com from a “buy” rating to a “strong-buy” rating.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.80 on Wednesday. The company has a market capitalization of $167.54 billion, a PE ratio of 17.16, a P/E/G ratio of 3.05 and a beta of 0.44. Verizon Communications Inc. has a fifty-two week low of $37.15 and a fifty-two week high of $45.36. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The company has a 50 day simple moving average of $42.10 and a two-hundred day simple moving average of $41.87.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. The business’s quarterly revenue was up .9% compared to the same quarter last year. Research analysts anticipate that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.81%. The ex-dividend date of this dividend is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Institutional Trading of Verizon Communications

A number of institutional investors have recently modified their holdings of the business. Kestra Investment Management LLC bought a new position in Verizon Communications in the third quarter valued at $3,376,000. Cyndeo Wealth Partners LLC lifted its position in Verizon Communications by 9.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock valued at $9,095,000 after purchasing an additional 17,855 shares during the last quarter. Benjamin Edwards Inc. raised its position in Verizon Communications by 1,934.5% during the 3rd quarter. Benjamin Edwards Inc. now owns 1,080,015 shares of the cell phone carrier’s stock valued at $48,503,000 after purchasing an additional 1,026,930 shares during the last quarter. Janney Montgomery Scott LLC increased its position in Verizon Communications by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock valued at $92,445,000 after purchasing an additional 57,583 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Verizon Communications by 6.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock worth $4,548,163,000 after buying an additional 5,936,009 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

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).