Verizon Communications (NYSE:VZ) Shares Down 0.5% – What’s Next?

Verizon Communications Inc. (NYSE:VZ) shares traded down 0.5% during trading on Monday . The company traded as low as $43.82 and last traded at $43.98. 2,119,953 shares were traded during mid-day trading, a decline of 89% from the average session volume of 18,675,916 shares. The stock had previously closed at $44.18.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VZ shares. TD Cowen increased their price objective on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. JPMorgan Chase & Co. cut their target price on Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 23rd. Citigroup boosted their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday, September 25th. Raymond James lifted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Bank of America raised their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $46.26.

Verizon Communications Price Performance

The stock has a market capitalization of $185.25 billion, a PE ratio of 16.42, a price-to-earnings-growth ratio of 4.03 and a beta of 0.42. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The firm has a 50 day moving average price of $42.44 and a 200 day moving average price of $41.18.

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

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be given a $0.678 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.16%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio is presently 101.12%.

Institutional Investors Weigh In On Verizon Communications

Institutional investors have recently bought and sold shares of the business. Swedbank AB bought a new position in shares of Verizon Communications during the first quarter worth $250,312,000. Third Point LLC bought a new position in shares of Verizon Communications during the 4th quarter valued at about $173,325,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its position in shares of Verizon Communications by 419.8% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 5,141,257 shares of the cell phone carrier’s stock valued at $193,825,000 after purchasing an additional 4,152,099 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Verizon Communications by 112.6% in the first quarter. DekaBank Deutsche Girozentrale now owns 6,574,910 shares of the cell phone carrier’s stock worth $273,507,000 after purchasing an additional 3,481,936 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of Verizon Communications by 18.6% in the second quarter. Bank of Montreal Can now owns 13,016,271 shares of the cell phone carrier’s stock worth $536,791,000 after buying an additional 2,040,247 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).