Verizon Communications Inc (NYSE:VZ) shares traded 3.53% higher at $34.62 on Wall Street last session.
In accordance with the data, 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 $44.00 and a low of $31.74, we find $38.50. Given the previous closing price of $33.44, this indicates a potential upside of 15.13 percent. VZ stock price is now 5.13% away from the 50-day moving average and -4.06% away from the 200-day moving average. The market capitalization of the company currently stands at $145.55B.
It has been rated a hold by 16 analysts and a buy by 6. Brokers who have rated the stock have averaged $38.63 as their price target over the next twelve months.
With the price target enhanced from $37 to $38, Barclays Upgraded its rating from Equal Weight to Overweight 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 $0.3 million. Insiders disposed of 540,421 shares of company stock worth roughly $18.71 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 $38,013,000. HEALTHCARE OF ONTARIO PENSION PLAN TRUST FUND invested $37,938,000 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 $33,633,000. CLEAR STREET LLC acquired a new stake in VZ for approximately $27,247,000. RAILWAY PENSION INVESTMENTS LTD purchased a new stake in VZ valued at around $20,830,000 in the second quarter. In total, there are 3,479 active investors with 63.57% ownership of the company’s stock.
Verizon Communications Inc (NYSE: VZ) opened at $33.84 on Monday. 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 1.76, a current ratio of 0.64, and a quick ratio of 0.60. According to the stock market information, the enterprise value for the company is $313.41B, which is based on a 6.98 price-to-earnings ratio, a 13.09 price-to-earnings-growth ratio, and a beta of 0.37. The fifty day moving average price for VZ is $32.96 and a two-hundred day moving average price translates $36.05 for the stock.
The latest earnings results from Verizon Communications Inc (NYSE: VZ) was released for Sep, 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 $1.17 EPS in the same period last year. The net profit margin was 15.58% and return on equity was 22.56% for VZ. The company reported revenue of $33.34 billion for the quarter, compared to $34.24 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -2.64 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 7.61% 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%.
