Verizon Communications (NYSE:VZ) Trading Up 1.7% - Here's What Happened

Key Points

• Verizon shares rose 1.7% to about $46.89 in mid-day trading, with volume slightly below its average.
• Analyst views remain mixed: Verizon has an overall “Hold” rating, with a consensus price target of $50.84; TD Cowen raised its target to $56, while Wells Fargo raised its target to $47 but maintained an equal-weight rating.
• Verizon beat quarterly EPS expectations ($1.30 versus $1.27) but missed revenue estimates, while maintaining a 6.0% dividend yield through its $0.7075 quarterly dividend.

Verizon Communications Inc. (NYSE:VZ - Get Free Report) was up 1.7% during mid-day trading on Friday . The stock traded as high as $46.91 and last traded at $46.8850. 28,264,762 shares were traded during trading, a decline of 3% from the average daily volume of 29,158,889 shares. The stock had previously closed at $46.11.

Analysts Set New Price Targets

VZ has been the topic of several analyst reports. Erste Group Bank restated a "hold" rating on shares of Verizon Communications in a research report on Tuesday, May 5th. Dbs Bank cut Verizon Communications from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, April 7th. TD Cowen raised their price target on Verizon Communications from $54.00 to $56.00 and gave the company a "buy" rating in a report on Monday. Weiss Ratings restated a "buy (b)" rating on shares of Verizon Communications in a research note on Friday, May 29th. Finally, Wells Fargo & Company upped their price objective on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an "equal weight" rating in a report on Monday. Nine investment analysts have rated the stock with a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, Verizon Communications currently has an average rating of "Hold" and a consensus price target of $50.84.

Verizon Communications Price Performance

The company has a 50 day moving average of $45.35 and a two-hundred day moving average of $46.44. The firm has a market cap of $195.77 billion, a P/E ratio of 12.21, a PEG ratio of 1.32 and a beta of 0.26. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The firm's quarterly revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. Sell-side analysts expect that Verizon Communications Inc. will post 5.03 EPS for the current year.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Friday, July 10th will be paid a dividend of $0.7075 per share. The ex-dividend date of this dividend is Friday, July 10th. This represents a $2.83 dividend on an annualized basis and a yield of 6.0%. Verizon Communications's dividend payout ratio is currently 73.70%.

Institutional Investors Weigh In On Verizon Communications

A number of large investors have recently made changes to their positions in the company. Brighton Jones LLC raised its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier's stock valued at $1,759,000 after buying an additional 16,704 shares during the period. United Bank increased its holdings in shares of Verizon Communications by 11.5% in the 2nd quarter. United Bank now owns 7,843 shares of the cell phone carrier's stock valued at $339,000 after purchasing an additional 806 shares during the period. Jump Financial LLC increased its holdings in shares of Verizon Communications by 312.0% in the 2nd quarter. Jump Financial LLC now owns 23,639 shares of the cell phone carrier's stock valued at $1,023,000 after purchasing an additional 17,901 shares during the period. HUB Investment Partners LLC lifted its position in shares of Verizon Communications by 17.2% in the second quarter. HUB Investment Partners LLC now owns 41,121 shares of the cell phone carrier's stock worth $1,779,000 after purchasing an additional 6,034 shares in the last quarter. Finally, Vivaldi Capital Management LP boosted its holdings in shares of Verizon Communications by 5.2% during the second quarter. Vivaldi Capital Management LP now owns 8,993 shares of the cell phone carrier's stock worth $389,000 after purchasing an additional 443 shares during the period. Institutional investors and hedge funds own 62.06% of the company's stock.

Verizon Communications Company Profile

Verizon Communications Inc NYSE: VZ is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company's consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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