Verizon Communications (NYSE:VZ) Trading Down 1% - Should You Sell?

Key Points

• Verizon Communications shares decreased by 1% to $43.35, with a notable 64% drop in trading volume compared to the average.
• Analysts have mixed ratings for Verizon, with target prices ranging from $43.00 to $49.00, resulting in an average rating of "Moderate Buy."
• The company recently declared a quarterly dividend of $0.6775, yielding 6.2%, and reported earnings of $1.22 per share, exceeding expectations.

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price fell 1% during mid-day trading on Wednesday . The stock traded as low as $42.88 and last traded at $43.35. 7,560,492 shares were traded during mid-day trading, a decline of 64% from the average session volume of 21,127,943 shares. The stock had previously closed at $43.80.

Analyst Ratings Changes

Several brokerages have issued reports on VZ. Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Bank of America upped their target price on Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Finally, Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Three equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and eleven have issued a Hold rating to the stock. According to MarketBeat, Verizon Communications currently has a consensus rating of "Moderate Buy" and an average price target of $47.65.

Verizon Communications Trading Up 0.3%

The company has a 50 day moving average of $43.20 and a 200-day moving average of $43.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. The stock has a market cap of $186.88 billion, a price-to-earnings ratio of 10.33, a price-to-earnings-growth ratio of 3.42 and a beta of 0.36.

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

Hedge Funds Weigh In On Verizon Communications

Several hedge funds have recently bought and sold shares of the company. Sargent Investment Group LLC lifted its stake in Verizon Communications by 3.3% during the 1st quarter. Sargent Investment Group LLC now owns 7,125 shares of the cell phone carrier's stock worth $323,000 after acquiring an additional 230 shares in the last quarter. Crescent Sterling Ltd. raised its position in Verizon Communications by 0.8% in the 1st quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock valued at $1,402,000 after purchasing an additional 235 shares in the last quarter. Hudock Inc. raised its position in Verizon Communications by 0.6% in the 2nd quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier's stock valued at $1,724,000 after purchasing an additional 238 shares in the last quarter. Providence Capital Advisors LLC raised its position in Verizon Communications by 0.3% in the 1st quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock valued at $3,637,000 after purchasing an additional 240 shares in the last quarter. Finally, Bernard Wealth Management Corp. raised its position in Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

About Verizon Communications

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).