Verizon Communications (NYSE:VZ) Stock Price Down 0.3% – What’s Next?

Shares of Verizon Communications Inc. (NYSE:VZ) fell 0.3% during trading on Monday . The stock traded as low as $43.83 and last traded at $43.88. 2,870,237 shares traded hands during mid-day trading, a decline of 84% from the average session volume of 18,339,861 shares. The stock had previously closed at $43.99.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank increased their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Bank of America increased their price target on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research report on Thursday, September 26th. Citigroup upped their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Tigress Financial raised their target price on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a report on Tuesday, October 1st. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target for the company. Eight research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.37.

Verizon Communications Trading Up 3.3 %

The company has a fifty day moving average of $43.01 and a 200-day moving average of $41.28. The company has a market capitalization of $180.41 billion, a price-to-earnings ratio of 15.75, a PEG ratio of 4.02 and a beta of 0.42. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The firm had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same period in the previous year, the business earned $1.22 earnings per share. As a group, equities research analysts anticipate that Verizon Communications Inc. will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.33%. The ex-dividend date is Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is currently 101.12%.

Institutional Trading of Verizon Communications

Several large investors have recently bought and sold shares of the business. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter worth $25,000. Mizuho Securities Co. Ltd. purchased a new position in Verizon Communications during the second quarter worth about $32,000. MFA Wealth Advisors LLC acquired a new position in Verizon Communications in the 2nd quarter valued at about $33,000. Accordant Advisory Group Inc grew its stake in shares of Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares during the period. Finally, Pittenger & Anderson Inc. increased its holdings in shares of Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after buying an additional 296 shares during the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

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).