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.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on VZ. 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. Deutsche Bank Aktiengesellschaft cut their target price on Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. William Blair reaffirmed a "market perform" rating on shares of Verizon Communications in a research report on Monday, April 25th. Barclays lowered Verizon Communications from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 22nd. Finally, Credit Suisse Group dropped their target price on Verizon Communications from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, fifteen have given a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $56.50.

Verizon Communications Trading Up 0.8 %

NYSE:VZ traded up $0.37 on Friday, hitting $45.15. 15,090,888 shares of the stock were exchanged, compared to its average volume of 22,356,452. The stock has a market cap of $189.62 billion, a PE ratio of 9.05, a PEG ratio of 2.15 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. The stock has a fifty day moving average of $48.76 and a 200-day moving average of $50.72. Verizon Communications has a fifty-two week low of $43.76 and a fifty-two week high of $56.20.

Verizon Communications (NYSE:VZ - Get Rating) last announced its quarterly 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). The firm had revenue of $33.79 billion for the quarter, compared to analyst estimates of $33.77 billion. Verizon Communications had a return on equity of 26.95% and a net margin of 15.48%. The business's revenue was up .1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.37 earnings per share. As a group, equities analysts expect that Verizon Communications will post 5.2 earnings per share for the current fiscal year.

Verizon Communications Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Stockholders of record on Friday, July 8th were given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 5.67%. The ex-dividend date was Thursday, July 7th. Verizon Communications's payout ratio is 51.30%.

Insider Transactions at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of the company's 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 owns 36,519 shares of the company's stock, valued at $1,825,950. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 4,674 shares of company stock valued at $237,377 over the last quarter. Company insiders own 0.10% of the company's stock.