Verizon Communications Inc. (NYSE:VZ) Receives Average Rating of "Hold" from Brokerages

Shares of Verizon Communications Inc. (NYSE:VZ - Get Free Report) have been assigned an average rating of "Hold" from the eighteen brokerages that are covering the stock, MarketBeat reports. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $46.51.

A number of brokerages recently weighed in on VZ. Citigroup boosted their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Sanford C. Bernstein started coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 target price for the company. Tigress Financial lifted their price target on Verizon Communications from $52.00 to $55.00 and gave the stock a "buy" rating in a report on Tuesday, October 1st. StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a report on Monday, December 16th. Finally, Scotiabank upped their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a "sector perform" rating in a report on Friday, October 18th.

Verizon Communications Stock Performance

Shares of Verizon Communications stock opened at $39.93 on Friday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62. The firm has a market cap of $168.09 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 3.05 and a beta of 0.44. The stock's 50-day moving average is $42.17 and its 200-day moving average is $41.87. Verizon Communications has a one year low of $37.15 and a one year high of $45.36.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The company had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same period last year, the company earned $1.22 earnings per share. The firm's revenue was up .9% compared to the same quarter last year. Equities analysts predict that Verizon Communications will post 4.61 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.79%. The ex-dividend date is Friday, January 10th. Verizon Communications's payout ratio is 116.81%.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications during the third quarter worth approximately $31,000. Mizuho Securities Co. Ltd. bought a new stake in Verizon Communications during the 2nd quarter valued at $32,000. Accordant Advisory Group Inc raised its holdings in Verizon Communications by 137.6% during the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier's stock worth $35,000 after buying an additional 450 shares during the last quarter. MidAtlantic Capital Management Inc. bought a new position in shares of Verizon Communications in the third quarter valued at $44,000. Finally, Denver PWM LLC acquired a new position in shares of Verizon Communications during the second quarter valued at about $46,000. 62.06% of the stock is owned by institutional investors.

About Verizon Communications

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).