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 Trading Up 0.5 %

Shares of Verizon Communications stock opened at $45.80 on Wednesday. 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 52 week low of $43.76 and a 52 week high of $56.20. The stock has a 50 day moving average price of $48.53 and a two-hundred day moving average price of $50.63. The stock has a market capitalization of $192.35 billion, a PE ratio of 9.18, a price-to-earnings-growth ratio of 2.15 and a beta of 0.33.

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

Verizon Communications Announces Dividend

The business also recently announced 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. The ex-dividend date of this dividend was Thursday, July 7th. This represents a $2.56 annualized dividend and a dividend yield of 5.59%. Verizon Communications's payout ratio is 51.30%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. William Blair reaffirmed a "market perform" rating on shares of Verizon Communications in a report on Monday, April 25th. JPMorgan Chase & Co. reissued a "hold" rating and set a $57.00 target price on shares of Verizon Communications in a report on Friday, June 24th. Royal Bank of Canada reduced their target price on Verizon Communications from $57.00 to $54.00 and set a "sector perform" rating on the stock in a report on Wednesday, June 22nd. Wells Fargo & Company reduced their target price on Verizon Communications from $58.00 to $52.00 and set an "equal weight" rating on the stock in a report on Friday, July 8th. Finally, Credit Suisse Group reduced 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 investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Hold" and an average price target of $56.50.

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction that occurred on Monday, May 23rd. The stock was sold at an average price of $50.00, for a total transaction of $77,900.00. Following the transaction, 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 legal filing with the SEC, which can be accessed through this link. Insiders have sold a total of 4,674 shares of company stock valued at $237,377 over the last 90 days. Insiders own 0.02% of the company's stock.