Verizon Communications (VZ) – Analysts’ Weekly Ratings Changes

A number of firms have modified their ratings and price targets on shares of Verizon Communications (NYSE: VZ) recently:

• 7/23/2024 – Verizon Communications had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $42.00 price target on the stock.
• 7/23/2024 – Verizon Communications had its price target lowered by analysts at JPMorgan Chase & Co. from $46.00 to $45.00. They now have a “neutral” rating on the stock.
• 7/23/2024 – Verizon Communications had its price target raised by analysts at TD Cowen from $48.00 to $51.00. They now have a “buy” rating on the stock.
• 7/10/2024 – Verizon Communications had its price target raised by analysts at Scotiabank from $45.50 to $46.50. They now have a “sector perform” rating on the stock.
• 7/1/2024 – Verizon Communications is now covered by analysts at The Goldman Sachs Group, Inc.. They set a “buy” rating and a $50.00 price target on the stock.

Verizon Communications Trading Up 0.0 %

Shares of VZ stock traded up $0.01 during trading hours on Tuesday, reaching $40.04. 16,086,994 shares of the stock traded hands, compared to its average volume of 18,871,701. The business has a fifty day moving average price of $40.57 and a 200 day moving average price of $40.46. Verizon Communications Inc. has a 1-year low of $30.14 and a 1-year high of $43.42. 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 firm has a market capitalization of $168.55 billion, a PE ratio of 14.94, a PEG ratio of 3.65 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate 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 analyst estimates of $33.05 billion. During the same period in the previous year, the firm earned $1.21 earnings per share. Verizon Communications’s quarterly revenue was up .6% on a year-over-year basis. On average, equities research analysts forecast that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 10th will be issued a dividend of $0.665 per share. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 annualized dividend and a dividend yield of 6.64%. Verizon Communications’s dividend payout ratio is 99.25%.

Institutional Investors Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently made changes to their positions in the company. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the fourth quarter worth $25,000. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications during the 1st quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC bought a new position in shares of Verizon Communications in the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC lifted its holdings in Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new stake in Verizon Communications during the second quarter worth approximately $33,000. 62.06% of the stock is 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).