Verizon Communications Inc. (VZ) Lowered by ValuEngine

Verizon Communications Inc. (VZ) Lowered by ValuEngine

Verizon Communications Inc. (NYSE:VZ) was downgraded by equities researchers at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

A number of other equities analysts also recently issued reports on the stock. BTIG Research reaffirmed a “neutral” rating on shares of Verizon Communications in a report on Tuesday. Moffett Nathanson raised shares of Verizon Communications from a “sell” rating to a “neutral” rating in a report on Tuesday. Vetr downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $46.15 price objective on the stock. in a report on Thursday, May 25th. Royal Bank of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a report on Thursday, May 25th. Finally, Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, May 12th. Twenty-seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $53.54.

Shares of Verizon Communications (NYSE VZ) traded down 0.15% on Friday, reaching $46.44. 18,544,772 shares of the company traded hands. Verizon Communications has a one year low of $44.46 and a one year high of $56.95. The firm has a 50-day moving average price of $46.42 and a 200 day moving average price of $49.36. The company has a market capitalization of $189.45 billion, a PE ratio of 15.53 and a beta of 0.43. Verizon Communications also was the target of some unusual options trading activity on Tuesday. Traders purchased 1,028 put options on the stock. This is an increase of approximately 139% compared to the typical volume of 431 put options.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.98 by $0.03. The firm had revenue of $29.81 billion for the quarter, compared to analysts’ expectations of $30.41 billion. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. Verizon Communications’s revenue was down 7.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.06 earnings per share. Equities analysts forecast that Verizon Communications will post $3.75 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be paid a $0.5775 dividend. This represents a $2.31 annualized dividend and a yield of 4.97%. Verizon Communications’s dividend payout ratio is currently 71.74%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Monday, March 27th. The stock was sold at an average price of $49.66, for a total value of $30,292.60. Following the completion of the sale, the executive vice president now owns 10,259 shares of the company’s stock, valued at $509,461.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Marni M. Walden sold 16,362 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $46.08, for a total value of $753,960.96. Following the completion of the sale, the executive vice president now directly owns 11,797 shares of the company’s stock, valued at approximately $543,605.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,192 shares of company stock valued at $840,801. 0.10% of the stock is owned by insiders.

A number of hedge funds have recently modified their holdings of VZ. Concentric Wealth Management LLC purchased a new stake in shares of Verizon Communications during the fourth quarter valued at about $1,752,000. Amtrust Financial Services Inc. bought a new stake in Verizon Communications during the fourth quarter worth $1,095,000. Mcmillion Capital Management Inc. raised its stake in Verizon Communications by 3.8% in the third quarter. Mcmillion Capital Management Inc. now owns 82,604 shares of the cell phone carrier’s stock worth $4,294,000 after buying an additional 3,048 shares during the period. AlphaOne Investment Services LLC raised its stake in Verizon Communications by 1.8% in the fourth quarter. AlphaOne Investment Services LLC now owns 11,530 shares of the cell phone carrier’s stock worth $615,000 after buying an additional 200 shares during the period. Finally, Huff W R Asset Management Co. LLC DE raised its stake in Verizon Communications by 17.5% in the fourth quarter. Huff W R Asset Management Co. LLC DE now owns 86,642 shares of the cell phone carrier’s stock worth $4,625,000 after buying an additional 12,918 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “VZ”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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