Verizon Communications - VZ Stock Forecast, Price & News

Verizon Communications Inc., through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches. It also provides residential fixed connectivity solutions, such as internet, video, and voice services; and sells network access to mobile virtual network operators. As of December 31, 2021, it had approximately 115 million wireless retail connections, 7 million wireline broadband connections, and 4 million Fios video connections. The company's Business segment provides network connectivity products, including private networking, private cloud connectivity, virtual and software defined networking, and internet access services; and internet protocol-based voice and video services, unified communications and collaboration tools, and customer contact center solutions. This segment also offers a suite of management and data security services; domestic and global voice and data solutions, such as voice calling, messaging services, conferencing, contact center solutions, and private line and data access networks; customer premises equipment; installation, maintenance, and site services; and Internet of Things products and services. As of December 31, 2021, it had approximately 27 million wireless retail postpaid connections and 477 thousand wireline broadband connections. The company was formerly known as Bell Atlantic Corporation and changed its name to Verizon Communications Inc. in June 2000. Verizon Communications Inc. was incorporated in 1983 and is headquartered in New York, New York.

Verizon Communications Stock Down 0.1 %

Shares of NYSE:VZ opened at $44.78 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76. Verizon Communications has a 1 year low of $43.76 and a 1 year high of $56.20. The stock has a market capitalization of $188.06 billion, a P/E ratio of 8.98, a PEG ratio of 2.13 and a beta of 0.33. The stock has a 50-day simple moving average of $49.00 and a 200-day simple moving average of $50.83.

Verizon Communications (NYSE:VZ - Get Rating) last issued its earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.32 by ($0.01). Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The firm had revenue of $33.79 billion for the quarter, compared to analysts' expectations of $33.77 billion. During the same quarter in the previous year, the firm posted $1.37 EPS. The firm's revenue for the quarter was up .1% compared to the same quarter last year. Equities analysts forecast that Verizon Communications will post 5.2 earnings per share for the current year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Friday, July 8th were given a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 5.72%. The ex-dividend date of this dividend was Thursday, July 7th. Verizon Communications's dividend payout ratio (DPR) is presently 51.30%.

Wall Street Analyst Weigh In

VZ has been the subject of a number of recent analyst reports. UBS Group reduced their target price on Verizon Communications from $57.00 to $47.00 and set a "neutral" rating for the company in a report on Monday, July 25th. Scotiabank downgraded Verizon Communications from a "sector outperform" rating to a "sector perform" rating in a report on Friday, July 22nd. Wells Fargo & Company reduced their target price on Verizon Communications from $58.00 to $52.00 and set an "equal weight" rating for the company in a report on Friday, July 8th. Credit Suisse Group reduced their target price on Verizon Communications from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 21st. Finally, The Goldman Sachs Group downgraded Verizon Communications from a "buy" rating to a "neutral" rating and reduced their target price for the company from $61.00 to $55.00 in a report on Monday, April 25th. One investment analyst has rated the stock with a sell rating, fifteen have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $56.50.

Insider Buying and Selling

In related news, EVP Craig L. Silliman sold 1,558 shares of the business's stock in a transaction that occurred on Tuesday, July 5th. The stock was sold at an average price of $51.42, for a total transaction of $80,112.36. Following the transaction, the executive vice president now directly owns 33,403 shares of the company's stock, valued at approximately $1,717,582.26. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have sold 4,674 shares of company stock valued at $237,377. Corporate insiders own 0.10% of the company's stock.