Verizon Communications Inc. (NYSE:VZ) Given Average Recommendation of "Moderate Buy" by Brokerages

Key Points

• Verizon Communications Inc. has received an average recommendation of "Moderate Buy" from analysts, with price targets averaging $47.63 for the stock.
• The company recently increased its quarterly dividend to $0.69 per share, providing a yield of 6.8%, with the ex-dividend date set for October 10th.
• Verizon reported earnings per share of $1.22 for the last quarter, surpassing estimates, and announced a revenue increase of 5.2% compared to the previous year.

Verizon Communications Inc. (NYSE:VZ - Get Free Report) has earned an average recommendation of "Moderate Buy" from the twenty analysts that are covering the firm, Marketbeat reports. Eleven equities research analysts have rated the stock with a hold recommendation, six have issued a buy recommendation and three have assigned a strong buy recommendation to the company. The average 1 year price target among brokerages that have covered the stock in the last year is $47.6333.

Several equities research analysts recently issued reports on the company. Royal Bank Of Canada boosted their price objective on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Arete Research upgraded Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Morgan Stanley boosted their price objective on Verizon Communications from $47.00 to $48.00 and gave the company an "equal weight" rating in a report on Tuesday, July 22nd. Wall Street Zen downgraded Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Finally, The Goldman Sachs Group initiated coverage on Verizon Communications in a report on Tuesday, September 2nd. They set a "buy" rating and a $49.00 price target on the stock.

Verizon Communications Price Performance

VZ stock opened at $40.38 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.60 and a debt-to-equity ratio of 1.19. The company has a market capitalization of $170.26 billion, a PE ratio of 9.41, a P/E/G ratio of 3.04 and a beta of 0.37. Verizon Communications has a 12-month low of $37.58 and a 12-month high of $47.35. The business's fifty day moving average price is $43.28 and its 200 day moving average price is $43.13.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.19 by $0.03. The firm had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company's quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.15 EPS. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts anticipate that Verizon Communications will post 4.69 EPS for the current year.

Verizon Communications Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be issued a dividend of $0.69 per share. This is a positive change from Verizon Communications's previous quarterly dividend of $0.68. The ex-dividend date is Friday, October 10th. This represents a $2.76 annualized dividend and a yield of 6.8%. Verizon Communications's dividend payout ratio (DPR) is currently 64.34%.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently bought and sold shares of the stock. Bulwark Capital Corp purchased a new stake in Verizon Communications during the 2nd quarter worth about $25,000. Cherry Tree Wealth Management LLC boosted its position in shares of Verizon Communications by 71.8% during the 1st quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares in the last quarter. Garde Capital Inc. acquired a new position in shares of Verizon Communications during the 1st quarter worth about $26,000. Advantage Trust Co boosted its position in shares of Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 500 shares in the last quarter. Finally, 1 North Wealth Services LLC acquired a new position in shares of Verizon Communications during the 1st quarter worth about $29,000. 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).

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