Brokerages Set Verizon Communications Inc. (NYSE:VZ) PT at $44.77

Verizon Communications Inc. (NYSE:VZ - Get Free Report) has received a consensus recommendation of "Moderate Buy" from the fourteen analysts that are covering the stock, MarketBeat reports. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $44.77.

Several equities analysts recently weighed in on the stock. Tigress Financial increased their price target on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a "buy" rating in a report on Friday, May 17th. StockNews.com upgraded shares of Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, May 4th. Redburn Atlantic upgraded shares of Verizon Communications from a "sell" rating to a "neutral" rating and increased their price target for the stock from $33.00 to $39.00 in a report on Friday, March 22nd. Royal Bank of Canada increased their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 2nd. Finally, Wells Fargo & Company cut their price target on shares of Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 23rd.

Verizon Communications Stock Up 1.0 %

Shares of VZ traded up $0.42 during mid-day trading on Friday, hitting $41.24. 27,639,192 shares of the company traded hands, compared to its average volume of 16,795,164. Verizon Communications has a 1-year low of $30.14 and a 1-year high of $43.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The company has a market capitalization of $173.59 billion, a PE ratio of 15.39, a price-to-earnings-growth ratio of 3.71 and a beta of 0.42. The business has a 50 day moving average of $40.07 and a 200 day moving average of $40.04.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. During the same quarter in the prior year, the company posted $1.20 earnings per share. The company's revenue for the quarter was up .3% compared to the same quarter last year. Equities research analysts anticipate that Verizon Communications will post 4.59 EPS for the current year.

Verizon Communications Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.665 dividend. The ex-dividend date is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.45%. Verizon Communications's payout ratio is currently 99.25%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Koesten Hirschmann & Crabtree INC. purchased a new position in shares of Verizon Communications during the 1st quarter worth $25,000. LFA Lugano Financial Advisors SA raised its holdings in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier's stock worth $25,000 after acquiring an additional 565 shares during the period. Criterion Capital Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth $29,000. Finally, Morton Brown Family Wealth LLC increased its position in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier's stock worth $33,000 after purchasing an additional 488 shares during 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).