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 Performance

NYSE:VZ opened at $44.54 on Tuesday. 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 business's 50 day moving average is $49.26 and its two-hundred day moving average is $50.92. Verizon Communications has a 12-month low of $43.76 and a 12-month high of $56.20. The stock has a market capitalization of $187.06 billion, a price-to-earnings ratio of 8.93, a PEG ratio of 2.14 and a beta of 0.33.

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

Verizon Communications Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 1st. Shareholders 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 5.75%. The ex-dividend date of this dividend was Thursday, July 7th. Verizon Communications's payout ratio is 51.30%.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Scotiabank downgraded Verizon Communications from a "sector outperform" rating to a "sector perform" rating in a report on Friday, July 22nd. Raymond James reiterated an "outperform" rating and set a $64.00 target price on shares of Verizon Communications in a research report on Thursday, July 7th. Deutsche Bank Aktiengesellschaft cut their target price on Verizon Communications from $59.00 to $58.00 in a research report on Tuesday, July 19th. Barclays cut Verizon Communications from an "overweight" rating to an "equal weight" rating in a research report on Friday, July 22nd. Finally, William Blair reiterated a "market perform" rating on shares of Verizon Communications in a research report on Monday, April 25th. One equities research analyst has rated the stock with a sell rating, fifteen have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $56.50.

Insiders Place Their Bets

In other 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 sale, the executive vice president now owns 33,403 shares of the company's stock, valued at approximately $1,717,582.26. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In the last 90 days, insiders have sold 4,674 shares of company stock worth $237,377. Company insiders own 0.02% of the company's stock.