Analysts Set Verizon Communications Inc. (NYSE:VZ) PT at $44.50

Shares of Verizon Communications Inc. (NYSE:VZ) have earned a consensus rating of “Moderate Buy” from the fourteen brokerages that are covering the stock, MarketBeat Ratings reports. Six equities research analysts have rated the stock with a hold recommendation and eight have issued a buy recommendation on the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $44.50.

A number of research firms have issued reports on VZ. Royal Bank of Canada increased their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Barclays raised their target price on shares of Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Citigroup raised their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, KeyCorp lifted their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a report on Wednesday, January 24th.

Verizon Communications Stock Up 0.9 %

VZ stock opened at $40.50 on Monday. Verizon Communications has a 12 month low of $30.14 and a 12 month high of $43.42. The firm has a market cap of $170.27 billion, a PE ratio of 14.67, a P/E/G ratio of 3.25 and a beta of 0.41. The firm has a 50 day simple moving average of $40.56 and a 200 day simple moving average of $38.24. The company has a debt-to-equity ratio of 1.47, a current ratio of 0.69 and a quick ratio of 0.65.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting the consensus estimate of $1.08. The business had revenue of $35.10 billion during the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 earnings per share. Equities research analysts forecast that Verizon Communications will post 4.58 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.665 per share. This represents a $2.66 annualized dividend and a dividend yield of 6.57%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio is 96.38%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total transaction of $979,200.00. Following the completion of the transaction, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.02% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Portland Investment Counsel Inc. raised its position in Verizon Communications by 173.7% during the third quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock worth $21,137,000 after acquiring an additional 413,869 shares in the last quarter. Dynamic Advisor Solutions LLC raised its holdings in Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock valued at $5,131,000 after buying an additional 1,616 shares during the last quarter. 180 Wealth Advisors LLC raised its holdings in Verizon Communications by 6.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock valued at $1,677,000 after buying an additional 3,020 shares during the last quarter. GFS Advisors LLC acquired a new stake in Verizon Communications during the 4th quarter valued at approximately $212,000. Finally, Fidelity D & D Bancorp Inc. acquired a new stake in Verizon Communications during the 3rd quarter valued at approximately $306,000. 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).