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Verizon Communications Inc. (NYSE:VZ – Get Rating) – KeyCorp released its 2024 EPS estimate for Verizon Communications’ stock in a research report issued to clients and investors on Tuesday, Jan. 24. KeyCorp analyst B. Nispel expects the mobile carrier to post his earnings per share of $4.48 for the year. Verizon Communications’ current consensus estimate for annual earnings is $4.70 per share.
Many other equity research analysts have also published reports on VZ. Cowen lowered his price target on Verizon Communications stock to $55.00 from his $64.00, setting an “outperform” rating in a report on Monday, Oct. 24. StockNews.com upgraded Verizon Communications’ stock from a ‘hold’ rating to a ‘buy’ rating in a research note on Thursday, October 13. Citigroup raised its price target on Verizon Communications stock to $42.00 from $39.00 and gave the company a “neutral” rating in Thursday’s research notes. Cowen lowered his price target on Verizon Communications stock to $49.00 from $55.00 and gave it an “outperform” rating in Wednesday’s research notes. Finally, in his Monday, Dec. 19 research notes, Moffett Nathanson upgraded Verizon Communications’ stock from an “underperforming” rating to a “market his performing” rating and set a price target of $41.00. . One analyst rated the stock with a sell rating, 13 analysts issued a hold rating, and six analysts gave the company’s stock a buy rating. According to MarketBeat.com, the company’s consensus rating is “hold” and the consensus price target is $47.63.
Verizon Communications Price Performance
Verizon Communications shares opened at $40.27 on Friday. The company has a market capitalization of $169.13 billion, a PE ratio of 7.96, a price/earnings ratio of 2.07 and a beta of 0.37. Verizon Communications has a 12-month low of $32.76 and a 12-month high of $55.51. The company has a quick ratio of 0.69, a current ratio of 0.75 and a debt to equity ratio of 1.52. The company’s 50-day simple moving average is $39.13 and its 200-day simple moving average is $40.72.
Verizon Communications (NYSE:VZ – Get Rating) last reported earnings on Tuesday, Jan. 24. Mobile carriers reported EPS of $1.19 for the quarter, missing the consensus estimate of $1.20 ($0.01). Verizon Communications had a net profit margin of 15.53% and a return on equity of 24.60%. The business generated $35.3 billion in revenue for the quarter, compared to consensus estimates of $35.14 billion. It posted an EPS of $1.31 in the year-ago quarter. Verizon Communications’ quarterly revenue increased 3.5% year-over-year.
Institutional investors value Verizon Communications
A number of hedge funds have recently bought and sold shares in this business. Vanguard Group Inc. upped his Verizon Communications stake by 1.1% in the third quarter. Vanguard Group Inc. now owns 349,590,768 shares of the mobile phone carrier worth $13,273,960,000 after he purchased an additional 3,857,646 shares last quarter. BlackRock Inc. raised his Verizon Communications stake by 1.0% in the third quarter. BlackRock Inc. now owns 319,233,100 of 12,121,282,000 shares in the mobile operator after purchasing an additional 3,133,547 of his shares last quarter. State Street Corp increased its Verizon Communications stock by 0.8% in the third quarter. State Street Corp now owns 165,028,281 shares of mobile phone company stock valued at $6,266,124,000 after purchasing an additional 1,298,454 shares last quarter. Charles Schwab Investment Management Inc. increased his stake in Verizon Communications by 5.2% in the first quarter. After acquiring an additional 2,934,928 shares during this period, Charles Schwab Investment Management Inc. now owns 59,782,122 shares of the mobile phone company’s stock valued at $3,045,303,000. Finally, FMR LLC increased its stake in Verizon Communications by 15.1% in the second quarter. After acquiring an additional 6,042,854 shares during this period, FMR LLC now owns 46,131,882 shares of mobile phone carrier stock valued at $2,341,192,000. Hedge funds and other institutional investors own 60.96% of the company’s shares.
Verizon Communications Announces Dividend
The business recently announced a quarterly dividend payable on Wednesday, February 1st. Dividends of $0.6525 will be issued to shareholders of record on Tuesday, January 10. This represents his $2.61 dividend and his 6.48% dividend yield on an annualized basis. The ex-dividend date for this dividend is January 9 (Monday). Verizon Communications’ dividend payout ratio (DPR) is currently 51.58%.
Verizon Communications Company Profile
(get rating)
Verizon Communications Inc, through its subsidiaries, provides communications, technology, information and entertainment products and services to consumers, businesses and governments around the world. Its consumer segment offers postpaid and prepaid service plans. Internet access on laptops and tablets. Wireless devices including smartphones and other handsets. Wireless-enabled internet devices such as tablets and other wireless-enabled connected devices including smart watches.
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