Verizon Communications (NYSE:VZ) Trading Down 0.2%

Verizon Communications Inc. (NYSE:VZ) traded down 0.2% during trading on Wednesday . The company traded as low as $40.73 and last traded at $40.75. 1,495,623 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 18,480,961 shares. The stock had previously closed at $40.85.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Royal Bank of Canada restated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a report on Tuesday, July 23rd. The Goldman Sachs Group assumed coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a “buy” rating and a $50.00 price objective for the company. Scotiabank lifted their price target on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research report on Wednesday, July 10th. Tigress Financial raised their price objective on Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. Finally, 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 research note on Tuesday, July 23rd. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $45.78.

Verizon Communications Stock Up 0.8 %

The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The firm’s 50 day moving average price is $40.68 and its two-hundred day moving average price is $40.44. The company has a market capitalization of $173.42 billion, a price-to-earnings ratio of 15.32, a price-to-earnings-growth ratio of 3.72 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to the consensus estimate of $33.05 billion. During the same quarter in the previous year, the business earned $1.21 earnings per share. The business’s revenue was up .6% compared to the same quarter last year. Sell-side analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th were issued a $0.665 dividend. The ex-dividend date was Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.46%. Verizon Communications’s dividend payout ratio is currently 99.25%.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds have recently bought and sold shares of the stock. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications in the 1st quarter valued at $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Verizon Communications in the fourth quarter valued at about $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications in the second quarter valued at about $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the second quarter valued at about $33,000. Finally, Vima LLC bought a new position in Verizon Communications during the fourth quarter worth about $36,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

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).