Verizon Communications (NYSE:VZ) Trading Down 2.1% – What’s Next?

Verizon Communications Inc. (NYSE:VZ)’s share price fell 2.1% during trading on Monday . The stock traded as low as $42.94 and last traded at $43.45. 11,339,179 shares changed hands during trading, a decline of 46% from the average session volume of 21,065,186 shares. The stock had previously closed at $44.38.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on VZ. JPMorgan Chase & Co. increased their price target on Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a research report on Tuesday, July 22nd. Arete Research raised Verizon Communications to a “strong-buy” rating in a report on Tuesday, July 8th. Morgan Stanley increased their price target on shares of Verizon Communications from $47.00 to $48.00 and gave the company an “equal weight” rating in a report on Tuesday, July 22nd. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a report on Tuesday, September 2nd. They set a “buy” rating and a $49.00 price objective on the stock. Finally, Royal Bank Of Canada boosted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company a “sector perform” rating in a research report on Tuesday, July 22nd. Three analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and eleven have given a Hold rating to the company. Based on data from MarketBeat, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $47.65.

Verizon Communications Stock Down 2.4%

The company has a market capitalization of $182.70 billion, a price-to-earnings ratio of 10.08, a PEG ratio of 3.42 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.60. The stock’s fifty day simple moving average is $43.20 and its two-hundred day simple moving average is $43.37.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03. Verizon Communications had a net margin of 13.28% and a return on equity of 19.61%. The business had revenue of $34.50 billion for the quarter, compared to the consensus estimate of $33.47 billion. During the same quarter last year, the company posted $1.15 earnings per share. Verizon Communications’s quarterly revenue was up 5.2% on a year-over-year basis. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.69 earnings per share for the current fiscal year.

Verizon Communications Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 10th will be paid a $0.69 dividend. This represents a $2.76 dividend on an annualized basis and a yield of 6.4%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.68. Verizon Communications’s dividend payout ratio is 63.17%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Brighton Jones LLC raised its position in Verizon Communications by 61.2% during the fourth quarter. Brighton Jones LLC now owns 43,986 shares of the cell phone carrier’s stock valued at $1,759,000 after purchasing an additional 16,704 shares during the period. Focus Partners Wealth increased its position in shares of Verizon Communications by 25.9% during the fourth quarter. Focus Partners Wealth now owns 759,869 shares of the cell phone carrier’s stock worth $31,402,000 after acquiring an additional 156,485 shares during the period. Guardian Wealth Advisors LLC NC grew its holdings in shares of Verizon Communications by 13.2% during the fourth quarter. Guardian Wealth Advisors LLC NC now owns 12,430 shares of the cell phone carrier’s stock worth $497,000 after buying an additional 1,452 shares during the last quarter. Humankind Investments LLC lifted its position in shares of Verizon Communications by 2.5% during the 4th quarter. Humankind Investments LLC now owns 32,908 shares of the cell phone carrier’s stock valued at $1,316,000 after acquiring an additional 787 shares during the period. Finally, Hudson Bay Capital Management LP purchased a new stake in Verizon Communications in the 4th quarter worth approximately $9,422,000. 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).