Verizon Communications Inc (NYSE:VZ) shares traded 1.24% higher at $40.87 on Wall Street last session.
VZ stock price is now 1.19% away from the 50-day moving average and 12.50% away from the 200-day moving average. The market capitalization of the company currently stands at $171.83B.
With the price target enhanced from $33 to $39, Redburn Atlantic Upgraded its rating from Sell to Neutral for Verizon Communications Inc (NYSE: VZ). On January 31, 2024, Barclays Downgraded its previous ‘Overweight’ rating to ‘Equal Weight’ on the stock keeping its target price maintained at $44, while ‘Daiwa Securities’ rates the stock as ‘Outperform’
In other news, Malady Kyle, EVP and Group CEO-VZ Business sold 24,000 shares of the company’s stock on Feb 22 ’24. The stock was sold for $979,200 at an average price of $40.80. Upon completion of the transaction, the EVP and Group CEO-VZ Business now directly owns 35,201 shares in the company, valued at $1.44 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 15 ’24, EVP and Group CEO-VZ Business Malady Kyle sold 15,000 shares of the business’s stock. A total of $604,950 was realized by selling the stock at an average price of $40.33. This leaves the insider owning 59,201 shares of the company worth $2.42 million. A total of 0.04% of the company’s stock is owned by insiders.
During the past 12 months, Verizon Communications Inc has had a low of $30.14 and a high of $43.21. As of last week, the company has a debt-to-equity ratio of 1.89, 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 $342.60B, which is based on a 14.83 price-to-earnings ratio, a 10.70 price-to-earnings-growth ratio, and a beta of 0.38. The fifty day moving average price for VZ is $40.39 and a two-hundred day moving average price translates $36.33 for the stock.
The latest earnings results from Verizon Communications Inc (NYSE: VZ) was released for Dec, 2023. According to the Telecom Services Company, earnings per share came in at $1.08, beating analysts’ expectations of $1.07 by 0.01. This compares to $1.56 EPS in the same period last year. The net profit margin was 8.67% and return on equity was 12.65% for VZ. The company reported revenue of $35.13 billion for the quarter, compared to $35.25 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue fell -0.34 percent. For the current quarter, analysts expect VZ to generate $33.34B in revenue.
