Verizon Communications (NYSE:VZ) Trading Up 1.2% - Time to Buy?

Key Points

• Verizon Communications shares rose by 1.2% to $44.29 amidst trading volatility, with a significant decline in volume compared to average sessions.
• Analysts from multiple firms have increased their target prices for Verizon, with estimates now ranging from $46.00 to $49.00 and the consensus rating being a "Moderate Buy".
• The company reported a 5.2% increase in year-over-year revenue, achieving earnings of $1.22 per share, which exceeded analysts' expectations.

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares traded up 1.2% during mid-day trading on Thursday . The stock traded as high as $44.42 and last traded at $44.29. 3,962,086 shares changed hands during mid-day trading, a decline of 81% from the average session volume of 21,117,916 shares. The stock had previously closed at $43.74.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock a "sector perform" rating in a report on Tuesday, July 22nd. Bank of America boosted their target price on shares of Verizon Communications from $45.00 to $49.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Wall Street Zen upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Arete Research upgraded shares of Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Finally, The Goldman Sachs Group began coverage on Verizon Communications in a research note on Tuesday. They issued a "buy" rating and a $49.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and eleven have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.44.

Verizon Communications Trading Up 0.9%

The firm has a market capitalization of $186.09 billion, a price-to-earnings ratio of 10.29, a price-to-earnings-growth ratio of 3.41 and a beta of 0.36. 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 fifty day moving average price of $43.12 and a 200-day moving average price of $43.31.

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

Verizon Communications Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 10th were given a $0.6775 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.1%. The ex-dividend date of this dividend was Thursday, July 10th. Verizon Communications's dividend payout ratio is currently 63.17%.

Institutional Trading of Verizon Communications

Institutional investors have recently made changes to their positions in the business. Sargent Investment Group LLC raised its stake in Verizon Communications by 3.3% during the first 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 stake in Verizon Communications by 0.8% during the first quarter. Crescent Sterling Ltd. now owns 30,906 shares of the cell phone carrier's stock worth $1,402,000 after acquiring an additional 235 shares in the last quarter. Hudock Inc. raised its stake in Verizon Communications by 0.6% during the second quarter. Hudock Inc. now owns 39,842 shares of the cell phone carrier's stock worth $1,724,000 after acquiring an additional 238 shares in the last quarter. Providence Capital Advisors LLC raised its stake in Verizon Communications by 0.3% during the first quarter. Providence Capital Advisors LLC now owns 80,178 shares of the cell phone carrier's stock worth $3,637,000 after acquiring an additional 240 shares in the last quarter. Finally, Bernard Wealth Management Corp. raised its stake in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 243 shares in the last quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

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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