Verizon Communications Inc. (NYSE:VZ) Receives $55.06 Average Target Price from Analysts

Verizon Communications Inc. (NYSE:VZGet Rating) has earned an average recommendation of “Hold” from the twenty-one brokerages that are covering the company, MarketBeat reports. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and four have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $56.59.

A number of research analysts have recently commented on VZ shares. William Blair reissued a “market perform” rating on shares of Verizon Communications in a report on Monday, April 25th. Morgan Stanley decreased their target price on shares of Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Monday, July 25th. StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. DZ Bank lowered Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price objective on the stock. in a research report on Friday, April 29th. Finally, Credit Suisse Group dropped their target price on Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st.

Insider Transactions at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of the business’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $50.94, for a total value of $79,364.52. Following the transaction, the executive vice president now directly owns 34,961 shares of the company’s stock, valued at approximately $1,780,913.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders sold 4,674 shares of company stock valued at $237,377. Corporate insiders own 0.10% of the company’s stock.

Institutional Trading of Verizon Communications

Hedge funds have recently modified their holdings of the stock. First National Bank Sioux Falls increased its position in Verizon Communications by 2.8% in the 1st quarter. First National Bank Sioux Falls now owns 6,966 shares of the cell phone carrier’s stock valued at $355,000 after buying an additional 190 shares in the last quarter. Mezzasalma Advisors LLC raised its position in shares of Verizon Communications by 1.8% during the fourth quarter. Mezzasalma Advisors LLC now owns 10,687 shares of the cell phone carrier’s stock worth $555,000 after purchasing an additional 191 shares during the period. Weaver Consulting Group lifted its holdings in shares of Verizon Communications by 1.3% in the 4th quarter. Weaver Consulting Group now owns 14,798 shares of the cell phone carrier’s stock worth $769,000 after purchasing an additional 192 shares in the last quarter. Domani Wealth LLC grew its position in Verizon Communications by 2.2% in the 1st quarter. Domani Wealth LLC now owns 9,145 shares of the cell phone carrier’s stock valued at $466,000 after purchasing an additional 197 shares during the period. Finally, Lathrop Investment Management Corp increased its stake in Verizon Communications by 3.8% during the 1st quarter. Lathrop Investment Management Corp now owns 5,462 shares of the cell phone carrier’s stock valued at $278,000 after purchasing an additional 198 shares in the last quarter. Institutional investors own 63.78% of the company’s stock.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $44.95 on Friday. Verizon Communications has a 1 year low of $43.76 and a 1 year high of $56.20. The stock has a market capitalization of $188.78 billion, a price-to-earnings ratio of 9.01, a price-to-earnings-growth ratio of 2.16 and a beta of 0.33. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.76 and a quick ratio of 0.69. The company’s 50 day simple moving average is $49.40 and its 200 day simple moving average is $51.01.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The business had revenue of $33.79 billion during the quarter, compared to the consensus estimate of $33.77 billion. During the same quarter in the previous year, the business posted $1.37 EPS. The company’s revenue for the quarter was up .1% on a year-over-year basis. As a group, research analysts predict that Verizon Communications will post 5.2 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, August 1st. Shareholders of record on Friday, July 8th were given a dividend of $0.64 per share. The ex-dividend date was Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a yield of 5.70%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.30%.

About Verizon Communications

(Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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