Verizon Communications (NYSE:VZ) Stock Price Up 0.3% – Still a Buy?

Verizon Communications Inc. (NYSE:VZ) was up 0.3% during trading on Tuesday . The company traded as high as $44.14 and last traded at $43.97. Approximately 1,814,969 shares traded hands during trading, a decline of 90% from the average daily volume of 18,644,494 shares. The stock had previously closed at $43.84.

Analyst Ratings Changes

Several equities research analysts have issued reports on VZ shares. Royal Bank of Canada boosted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research note on Monday, September 23rd. JPMorgan Chase & Co. cut their price objective on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. The Goldman Sachs Group began coverage on Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 target price for the company. Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Finally, Scotiabank lifted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $46.26.

Verizon Communications Trading Up 0.3 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The business’s 50 day moving average price is $42.51 and its 200-day moving average price is $41.20. The firm has a market cap of $185.75 billion, a price-to-earnings ratio of 16.47, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.15. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same quarter in the prior year, the firm posted $1.21 earnings per share. Verizon Communications’s revenue for the quarter was up .6% compared to the same quarter last year. Equities analysts expect that Verizon Communications Inc. will post 4.58 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be paid a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. The ex-dividend date is Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.15%. Verizon Communications’s payout ratio is presently 101.12%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of VZ. Koesten Hirschmann & Crabtree INC. bought a new position in Verizon Communications during the 1st quarter worth $25,000. Mizuho Securities Co. Ltd. acquired a new stake in shares of Verizon Communications in the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC bought a new stake in Verizon Communications in the 2nd quarter valued at about $33,000. Vima LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $36,000. Finally, Pittenger & Anderson Inc. grew its position in Verizon Communications by 50.4% in the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock worth $37,000 after purchasing an additional 296 shares during the last quarter. 62.06% of the stock is currently 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).