Verizon Communications (NYSE:VZ) Trading Down 1.9% – Here’s What Happened

Shares of Verizon Communications Inc. (NYSE:VZ) were down 1.9% during trading on Wednesday . The company traded as low as $45.23 and last traded at $45.8610. Approximately 33,095,564 shares were traded during mid-day trading, an increase of 17% from the average daily volume of 28,190,027 shares. The stock had previously closed at $46.73.

Key Verizon Communications News

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Verizon unveiled customer-friendly moves aimed at improving retention and attracting subscribers, including simpler wireless plans, a new loyalty program, and the removal of activation and upgrade fees. The company says the program will offer 3% back on bills plus perks with brands like Sephora, Hilton, Marriott, and Starbucks. Article: Verizon targets wireless customers with new simpler plans, drops some fees
• Neutral Sentiment: Verizon also announced the final results of its private exchange offers and tender offers for multiple series of notes, part of an ongoing effort to manage its debt structure and simplify certain subsidiary obligations. Article: Verizon announces expiration and final results of its private exchange offers and consent solicitations for 11 series of notes
• Neutral Sentiment: The company separately reported final results for tender offers and consent solicitations covering 20 series of Verizon and subsidiary notes, another balance-sheet and refinancing update that is unlikely to move the stock on its own but reinforces capital-management efforts. Article: Verizon announces expiration and final results of its tender offers and consent solicitations for 20 series of Verizon and certain of its subsidiaries’ notes

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Dbs Bank cut shares of Verizon Communications from a “moderate buy” rating to a “hold” rating in a research note on Tuesday, April 7th. Morgan Stanley upped their price objective on shares of Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a research note on Tuesday, April 28th. JPMorgan Chase & Co. upped their price objective on shares of Verizon Communications from $49.00 to $52.00 and gave the company a “neutral” rating in a research note on Thursday, April 30th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating and upped their price objective for the company from $50.25 to $54.50 in a research note on Monday, March 9th. Finally, Oppenheimer upped their price objective on shares of Verizon Communications from $50.00 to $56.00 and gave the company an “outperform” rating in a research note on Wednesday, March 11th. One analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $50.59.

Verizon Communications Stock Down 1.9%

The stock’s fifty day moving average is $47.10 and its 200 day moving average is $45.59. The company has a current ratio of 0.64, a quick ratio of 0.61 and a debt-to-equity ratio of 1.38. The company has a market capitalization of $191.50 billion, a P/E ratio of 11.19, a price-to-earnings-growth ratio of 1.15 and a beta of 0.24.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Monday, April 27th. The cell phone carrier reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.21 by $0.07. Verizon Communications had a net margin of 12.46% and a return on equity of 19.25%. The company had revenue of $34.44 billion during the quarter, compared to analyst estimates of $34.82 billion. During the same period in the prior year, the business posted $1.19 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.950-4.990 EPS. Research analysts predict that Verizon Communications Inc. will post 4.97 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Friday, July 10th will be issued a $0.7075 dividend. The ex-dividend date is Friday, July 10th. This represents a $2.83 annualized dividend and a yield of 6.2%. Verizon Communications’s payout ratio is 69.02%.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors and hedge funds have recently modified their holdings of VZ. Norges Bank purchased a new stake in shares of Verizon Communications in the 4th quarter worth about $2,357,158,000. Bank of America Corp DE lifted its position in shares of Verizon Communications by 15.4% in the 1st quarter. Bank of America Corp DE now owns 62,101,021 shares of the cell phone carrier’s stock worth $3,117,471,000 after purchasing an additional 8,289,877 shares during the period. Bank of New York Mellon Corp lifted its position in shares of Verizon Communications by 31.2% in the 4th quarter. Bank of New York Mellon Corp now owns 31,584,162 shares of the cell phone carrier’s stock worth $1,286,423,000 after purchasing an additional 7,509,055 shares during the period. State Street Corp lifted its position in shares of Verizon Communications by 3.5% in the 4th quarter. State Street Corp now owns 222,951,399 shares of the cell phone carrier’s stock worth $9,080,810,000 after purchasing an additional 7,461,335 shares during the period. Finally, Charles Schwab Investment Management Inc. lifted its position in shares of Verizon Communications by 5.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 116,570,816 shares of the cell phone carrier’s stock worth $4,747,930,000 after purchasing an additional 5,851,715 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.