News headlines about Verizon Communications (NYSE:VZ) have trended somewhat positive on Monday, according to Accern. The research firm identifies negative and positive news coverage by monitoring more than 20 million news and blog sources in real time. Accern ranks coverage of public companies on a scale of negative one to one, with scores nearest to one being the most favorable. Verizon Communications earned a media sentiment score of 0.11 on Accern’s scale. Accern also gave media stories about the cell phone carrier an impact score of 79 out of 100, meaning that recent news coverage is likely to have an impact on the stock’s share price in the near term.
These are some of the news articles that may have impacted Accern’s scoring:
- A Look at T-Mobile’s Valuation Parameters (finance.yahoo.com)
- Verizon Communications Inc. (VZ) Upgraded by Vetr Inc. to Strong-Buy (americanbankingnews.com)
- Royal Bank Of Canada Reaffirms Hold Rating for Verizon Communications Inc. (NYSE:VZ) (americanbankingnews.com)
- Verizon Communications Inc. (NYSE:VZ) Shares on the Go mid-Session (eleganthomesinla.com)
- Here’s Why You Should Hold on to Verizon (VZ) Amid Risks (nasdaq.com)
Several equities analysts have recently weighed in on the company. Vetr downgraded Verizon Communications from a “buy” rating to a “hold” rating and set a $51.51 target price on the stock. in a research report on Monday, March 20th. SunTrust Banks, Inc. assumed coverage on Verizon Communications in a research report on Tuesday, April 18th. They set a “hold” rating and a $50.00 target price on the stock. Zacks Investment Research downgraded Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Barclays PLC cut their target price on Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $51.00 target price on shares of Verizon Communications in a research report on Friday, April 7th. Twenty-six research analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $53.72.
Shares of Verizon Communications (NYSE:VZ) traded down 0.64% on Monday, reaching $43.20. The company had a trading volume of 11,782,126 shares. Verizon Communications has a 52 week low of $43.18 and a 52 week high of $56.25. The company has a market capitalization of $176.23 billion, a P/E ratio of 14.45 and a beta of 0.54. The company has a 50 day moving average of $45.84 and a 200-day moving average of $48.85.
Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, April 20th. The cell phone carrier reported $0.95 EPS for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.03. Verizon Communications had a return on equity of 66.99% and a net margin of 9.92%. The firm had revenue of $29.81 billion for the quarter, compared to analyst estimates of $30.41 billion. During the same quarter last year, the firm posted $1.06 EPS. The firm’s revenue for the quarter was down 7.3% on a year-over-year basis. Analysts predict that Verizon Communications will post $3.74 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Stockholders of record on Monday, July 10th will be given a dividend of $0.5775 per share. This represents a $2.31 dividend on an annualized basis and a dividend yield of 5.33%. The ex-dividend date of this dividend is Thursday, July 6th. Verizon Communications’s dividend payout ratio (DPR) is currently 77.00%.
In other news, EVP Marni M. Walden sold 16,362 shares of Verizon Communications stock in a transaction dated Monday, May 1st. The stock was sold at an average price of $46.08, for a total transaction of $753,960.96. Following the sale, the executive vice president now owns 11,797 shares in the company, valued at $543,605.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $45.00, for a total value of $27,450.00. Following the sale, the executive vice president now owns 8,429 shares in the company, valued at approximately $379,305. The disclosure for this sale can be found here. Insiders have sold 18,192 shares of company stock worth $837,958 in the last quarter. Insiders own 0.13% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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