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.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of analyst reports. Scotiabank cut Verizon Communications from a "sector outperform" rating to a "sector perform" rating in a report on Friday, July 22nd. Credit Suisse Group decreased their price target on Verizon Communications from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 21st. Barclays lowered Verizon Communications from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 22nd. Morgan Stanley cut their target price on Verizon Communications from $60.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Monday, July 25th. Finally, UBS Group cut their target price on Verizon Communications from $57.00 to $47.00 and set a "neutral" rating on the stock in a research report on Monday, July 25th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Verizon Communications has an average rating of "Hold" and a consensus target price of $56.50.

Verizon Communications Price Performance

VZ Stock traded up $0.52 during trading hours on Friday, hitting $44.95. 17,297,475 shares of the stock traded hands, compared to its average volume of 21,662,484. The stock has a 50-day simple moving average of $49.40 and a 200 day simple moving average of $50.99. Verizon Communications has a one year low of $43.76 and a one year high of $56.20. The company has a market cap of $188.78 billion, a P/E ratio of 9.01, a P/E/G ratio of 2.14 and a beta of 0.33. The company has a current ratio of 0.76, a quick ratio of 0.69 and a debt-to-equity ratio of 1.56.

Verizon Communications (NYSE:VZ - Get Rating) last announced its earnings results on Friday, July 22nd. The cell phone carrier reported $1.31 EPS for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company had revenue of $33.79 billion for the quarter, compared to analysts' expectations of $33.77 billion. During the same period in the prior year, the company earned $1.37 earnings per share. The company's revenue for the quarter was up .1% on a year-over-year basis. 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 announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a dividend yield of 5.70%. The ex-dividend date of this dividend was Thursday, July 7th. Verizon Communications's dividend payout ratio is 51.30%.

Insider Activity

In related news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction dated Monday, May 23rd. The stock was sold at an average price of $50.00, for a total value of $77,900.00. Following the completion of the sale, the executive vice president now directly owns 36,519 shares of the company's stock, valued at approximately $1,825,950. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders sold a total of 4,674 shares of company stock valued at $237,377 over the last three months. Insiders own 0.10% of the company's stock.