In yesterday’s Wall Street session, Verizon Communications Inc. (NYSE:VZ) shares traded at $38.16, up 0.74% from the previous session.
As of this writing, 29 analysts cover Verizon Communications Inc. (NYSE:VZ). The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $58.00 and a low of $37.00, we find $43.00. Given the previous closing price of $37.88, this indicates a potential upside of 13.52 percent. VZ stock price is now -0.44% away from the 50-day moving average and -18.67% away from the 200-day moving average. The market capitalization of the company currently stands at $161.19B.
There are 20 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $44.69 as their price target over the next twelve months.
With the price target maintained at $50, Oppenheimer recently Upgraded its rating from Perform to Outperform for Verizon Communications Inc. (NYSE: VZ). On August 18, 2022, MoffettNathanson Downgraded its previous ‘Market Perform’ rating to ‘Underperform’ on the stock keeping its target price maintained at $41, while ‘BofA Securities’ rates the stock as ‘Neutral’.
In other news, Silliman Craig L., EVP&ChiefAdminLegal&PubPolOff sold 1,558 shares of the company’s stock on Jul 05. The stock was sold for $80,112 at an average price of $51.42. Upon completion of the transaction, the EVP&ChiefAdminLegal&PubPolOff now directly owns 33,403 shares in the company, valued at $1.27 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Jun 03, EVP&ChiefAdminLegal&PubPolOff Silliman Craig L. sold 1,558 shares of the business’s stock. A total of $79,365 was realized by selling the stock at an average price of $50.94. This leaves the insider owning 34,961 shares of the company worth $1.33 million. Insiders disposed of 233,619 shares of company stock worth roughly $8.91 million over the past 1 year. A total of 0.06% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in VZ stock. A new stake in Verizon Communications Inc. shares was purchased by GREAT WEST LIFE ASSURANCE CO /CAN/ during the first quarter worth $182,884,000. JUNTO CAPITAL MANAGEMENT LP invested $47,785,000 in shares of VZ during the first quarter. In the first quarter, AMALGAMATED FINANCIAL CORP. acquired a new stake in Verizon Communications Inc. valued at approximately $42,918,000. WORLDQUANT MILLENNIUM ADVISORS LLC acquired a new stake in VZ for approximately $31,028,000. WOODLINE PARTNERS LP purchased a new stake in VZ valued at around $22,896,000 in the second quarter. In total, there are 3,539 active investors with 64.30% ownership of the company’s stock.
During the past 12 months, Verizon Communications Inc. has had a low of $34.55 and a high of $55.51. As of last week, the company has a debt-to-equity ratio of 1.69, a current ratio of 0.70, and a quick ratio of 0.70. The fifty day moving average price for VZ is $38.33 and a two-hundred day moving average price translates $46.92 for the stock.
The latest earnings results from Verizon Communications Inc. (NYSE: VZ) was released for Sep, 2022. According to the Telecom Services Company, earnings per share came in at $1.32, beating analysts’ expectations of $1.29 by 0.03. This compares to $1.55 EPS in the same period last year. The net profit margin was 14.20% and return on equity was 22.80% for VZ. The company reported revenue of $34.24 billion for the quarter, compared to $32.91 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 4.03 percent. For the current quarter, analysts expect VZ to generate $35.37B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/01/2022. Investors who held shares on 10/07/2022 were paid a $0.652 dividend. On an annualized basis, this represents a $2.61 dividend and a 6.84% percent yield. There was an ex-dividend date of 10/06/2022 for this dividend. In terms of dividend payout ratio, VZ is presently at 55.60%.
Verizon Communications Inc.(VZ) Company Profile
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. It also provides residential fixed connectivity solutions, such as internet, video, and voice services; and sells network access to mobile virtual network operators. As of December 31, 2021, it had approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company’s Business segment provides network connectivity products, including private networking, private cloud connectivity, virtual and software defined networking, and internet access services; and internet protocol-based voice and video services, unified communications and collaboration tools, and customer contact center solutions. This segment also offers a suite of management and data security services; domestic and global voice and data solutions, such as voice calling, messaging services, conferencing, contact center solutions, and private line and data access networks; customer premises equipment; installation, maintenance, and site services; and Internet of Things products and services. As of December 31, 2021, it had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was incorporated in 1983 and is headquartered in New York, New York.