Verizon Communications (NYSE:VZ) Coverage Initiated by Analysts at The Goldman Sachs Group

The Goldman Sachs Group started coverage on shares of Verizon Communications (NYSE:VZ) in a research note published on Monday, Marketbeat reports. The firm issued a buy rating and a $50.00 price target on the cell phone carrier’s stock.

Several other analysts also recently issued reports on the stock. Tigress Financial increased their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the company a buy rating in a research report on Friday, May 17th. Wells Fargo & Company lowered their price target on shares of Verizon Communications from $44.00 to $40.00 and set an equal weight rating for the company in a report on Tuesday, April 23rd. Oppenheimer reiterated an outperform rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Royal Bank of Canada raised their target price on Verizon Communications from $36.00 to $40.00 and gave the company a sector perform rating in a research note on Tuesday, April 2nd. Finally, Redburn Atlantic raised Verizon Communications from a sell rating to a neutral rating and lifted their target price for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Six investment analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $45.14.

Verizon Communications Stock Performance

NYSE:VZ opened at $41.73 on Monday. The firm’s fifty day simple moving average is $40.07 and its 200 day simple moving average is $40.06. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42. The firm has a market capitalization of $175.65 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 3.75 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same quarter in the previous year, the firm posted $1.20 earnings per share. The firm’s quarterly revenue was up .3% on a year-over-year basis. As a group, equities research analysts expect that Verizon Communications will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.37%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is presently 99.25%.

Hedge Funds Weigh In On Verizon Communications

Several institutional investors have recently made changes to their positions in VZ. LFA Lugano Financial Advisors SA lifted its stake in Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after buying an additional 565 shares during the last quarter. Criterion Capital Advisors LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $25,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications in the first quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $29,000. Finally, Morton Brown Family Wealth LLC boosted its position in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after buying an additional 488 shares during the period. 62.06% of the stock is owned by institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).