In yesterday’s Wall Street session, Verizon Communications Inc (NYSE:VZ) shares traded at $31.39, down -0.57% from the previous session.
As of this writing, 26 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 $45.00 and a low of $31.74, we find $38.75. Given the previous closing price of $31.57, this indicates a potential upside of 22.74 percent. VZ stock price is now -4.63% away from the 50-day moving average and -13.51% away from the 200-day moving average. The market capitalization of the company currently stands at $131.96B.
There are 18 analysts who have given it a hold rating, whereas 5 have given it a buy rating. Brokers who have rated the stock have averaged $38.56 as their price target over the next twelve months.
With the price target enhanced from $39 to $40, Citigroup Upgraded its rating from Neutral to Buy for Verizon Communications Inc (NYSE: VZ).
In other news, Hammock Samantha, EVP & Chief HR Officer sold 12,557 shares of the company’s stock on Aug 11. The stock was sold for $418,023 at an average price of $33.29. Upon completion of the transaction, the EVP & Chief HR Officer now directly owns 0 shares in the company, valued at $0.0. An SEC document containing details of the transaction can be found on the SEC’s website. On May 23, EVP&Pres-Global Networks&Tech Russo Joseph J. sold 7,585 shares of the business’s stock. A total of $275,336 was realized by selling the stock at an average price of $36.30. This leaves the insider owning 8,582 shares of the company worth $0.27 million. Insiders disposed of 540,421 shares of company stock worth roughly $16.96 million over the past 1 year. A total of 0.03% 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 ABEILLE ASSET MANAGEMENT SA during the first quarter worth $35,682,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND invested $35,612,000 in shares of VZ during the first quarter. In the first quarter, UNISUPER MANAGEMENT PTY LTD acquired a new stake in Verizon Communications Inc valued at approximately $31,571,000. CLEAR STREET LLC acquired a new stake in VZ for approximately $25,577,000. POLAR ASSET MANAGEMENT PARTNERS INC. purchased a new stake in VZ valued at around $15,554,000 in the second quarter. In total, there are 3,479 active investors with 63.57% ownership of the company’s stock.
During the past 12 months, Verizon Communications Inc has had a low of $30.14 and a high of $42.58. As of last week, the company has a debt-to-equity ratio of 1.87, a current ratio of 0.68, and a quick ratio of 0.64. According to the stock market information, the enterprise value for the company is $305.57B, which is based on a 6.28 price-to-earnings ratio, a 9.52 price-to-earnings-growth ratio, and a beta of 0.39. The fifty day moving average price for VZ is $32.87 and a two-hundred day moving average price translates $36.24 for the stock.
The latest earnings results from Verizon Communications Inc (NYSE: VZ) was released for Jun, 2023. According to the Telecom Services Company, earnings per share came in at $1.21, beating analysts’ expectations of $1.16 by 0.05. This compares to $1.24 EPS in the same period last year. The net profit margin was 15.58% and return on equity was 23.22% for VZ. The company reported revenue of $32.6 billion for the quarter, compared to $33.79 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -3.53 percent. For the current quarter, analysts expect VZ to generate $31.36B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 11/01/2023. Investors who held shares on 10/10/2023 were paid a $0.665 dividend. On an annualized basis, this represents a $2.63 dividend and a 8.39% percent yield. There was an ex-dividend date of 10/06/2023 for this dividend. In terms of dividend payout ratio, VZ is presently at 51.13%.
Verizon Communications Inc(VZ) Company Profile
Verizon Communications Inc., through its subsidiaries, provides 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). The Consumer segment provides wireless services across the wireless networks in the United States under the Verizon and TracFone brands and through wholesale and other arrangements; and fixed wireless access (FWA) broadband through its wireless networks. It also offers wireline services in the Mid-Atlantic and Northeastern United States, as well as Washington D.C. through its fiber-optic network, Verizon Fios product portfolio, and a copper-based network. The Business segment provides wireless and wireline communications services and products, including data, video, conferencing, corporate networking, security and managed network, local and long-distance voice, network access, and various IoT services and products, as well as FWA broadband through its wireless networks. 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.
