Verizon Communications Inc. (NYSE:VZ) Receives Average Recommendation of “Moderate Buy” from Brokerages

Verizon Communications Inc. (NYSE:VZ) has earned a consensus recommendation of “Moderate Buy” from the sixteen research firms that are currently covering the company, Marketbeat.com reports. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $45.66.

VZ has been the subject of several recent analyst reports. Scotiabank increased their price target on Verizon Communications from $45.50 to $46.50 and gave the stock a “sector perform” rating in a research note on Wednesday, July 10th. KeyCorp lowered their target price on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research note on Friday, September 6th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 price objective on shares of Verizon Communications in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating for the company in a research report on Tuesday, July 23rd.

Verizon Communications Trading Down 0.4 %

Shares of NYSE:VZ opened at $43.89 on Thursday. Verizon Communications has a fifty-two week low of $30.14 and a fifty-two week high of $45.05. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The company has a market cap of $184.74 billion, a PE ratio of 16.38, a P/E/G ratio of 3.99 and a beta of 0.42. The company’s 50-day moving average price is $41.35 and its 200 day moving average price is $40.73.

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

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be paid a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 dividend on an annualized basis and a yield of 6.18%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Verizon Communications in the 1st quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in Verizon Communications during the 4th quarter valued at $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications in the second quarter valued at $32,000. MFA Wealth Advisors LLC acquired a new stake in shares of Verizon Communications in the second quarter worth $33,000. Finally, Vima LLC purchased a new position in shares of Verizon Communications during the fourth quarter valued at $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).