Verizon Communications (NYSE:VZ) Trading 1.5% Higher – Still a Buy?

Shares of Verizon Communications Inc. (NYSE:VZ) were up 1.5% on Monday . The stock traded as high as $42.58 and last traded at $42.28. Approximately 3,876,979 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 18,530,281 shares. The stock had previously closed at $41.65.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on VZ shares. UBS Group boosted their price objective on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. Scotiabank boosted their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. decreased their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, July 23rd. Raymond James upped their target price on Verizon Communications from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, September 24th. Finally, TD Cowen upped their price target on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Nine analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Stock Performance

The stock has a market capitalization of $176.47 billion, a PE ratio of 18.07, a PEG ratio of 3.03 and a beta of 0.43. The business has a 50 day moving average price of $42.98 and a 200 day moving average price of $41.49. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62.

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, beating 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 company had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same period last year, the firm posted $1.22 earnings per share. Verizon Communications’s revenue was up .9% compared to the same quarter last year. As a group, equities research analysts expect that Verizon Communications Inc. will post 4.61 earnings per share for the current year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Thursday, October 10th were given a dividend of $0.678 per share. The ex-dividend date was 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 6.47%. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors have recently modified their holdings of the business. Alliance Wealth Advisors LLC boosted its position in shares of Verizon Communications by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock valued at $732,000 after buying an additional 241 shares during the last quarter. Fermata Advisors LLC lifted its holdings in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after acquiring an additional 243 shares during the period. Austin Private Wealth LLC lifted its holdings in Verizon Communications by 3.0% in the third quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after acquiring an additional 243 shares during the period. Semmax Financial Advisors Inc. lifted its holdings in Verizon Communications by 0.4% in the second quarter. Semmax Financial Advisors Inc. now owns 54,926 shares of the cell phone carrier’s stock valued at $2,240,000 after acquiring an additional 246 shares during the period. Finally, Cary Street Partners Asset Management LLC lifted its holdings in Verizon Communications by 3.4% in the third quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after acquiring an additional 249 shares during the period. 62.06% of the stock is 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).