Shares of Verizon Communications Inc. (NYSE:VZ) have earned an average recommendation of “Buy” from the twenty-six analysts that are presently covering the firm, Marketbeat Ratings reports. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating on the company. The average 12 month price objective among brokerages that have covered the stock in the last year is $55.67.
Several equities analysts have recently issued reports on the stock. Scotiabank set a $62.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Bank of America reissued a “buy” rating and issued a $58.00 price target on shares of Verizon Communications in a report on Monday, October 22nd. Finally, Robert W. Baird boosted their price target on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th.
VZ opened at $58.46 on Friday. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93. Verizon Communications has a 52 week low of $43.97 and a 52 week high of $59.20. The firm has a market cap of $237.98 billion, a price-to-earnings ratio of 15.63, a price-to-earnings-growth ratio of 2.51 and a beta of 0.46.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 1st. Investors of record on Wednesday, October 10th were given a $0.6025 dividend. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 annualized dividend and a yield of 4.12%. The ex-dividend date was Tuesday, October 9th. Verizon Communications’s payout ratio is currently 64.44%.
A number of institutional investors and hedge funds have recently bought and sold shares of VZ. Catalyst Capital Advisors LLC bought a new stake in Verizon Communications during the 2nd quarter worth about $103,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Verizon Communications in the 3rd quarter valued at about $107,000. Financial Gravity Wealth Inc. bought a new stake in shares of Verizon Communications in the 1st quarter valued at about $128,000. Barnett & Company Inc. raised its holdings in shares of Verizon Communications by 152.3% in the 3rd quarter. Barnett & Company Inc. now owns 2,445 shares of the cell phone carrier’s stock valued at $131,000 after purchasing an additional 1,476 shares during the period. Finally, Rainier Group Investment Advisory LLC bought a new stake in shares of Verizon Communications in the 1st quarter valued at about $134,000. 64.34% of the stock is currently owned by institutional investors and hedge funds.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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