Verizon Communications (NYSE:VZ) Stock Price Down 1.2% - Time to Sell?

Verizon Communications Inc. (NYSE:VZ - Get Free Report)'s stock price was down 1.2% during trading on Monday . The company traded as low as $39.41 and last traded at $39.45. Approximately 4,377,605 shares changed hands during trading, a decline of 76% from the average daily volume of 18,385,146 shares. The stock had previously closed at $39.92.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. KeyCorp lowered Verizon Communications from an "overweight" rating to a "sector weight" rating in a research note on Thursday, October 24th. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price target on the stock. UBS Group raised their price objective on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a report on Friday, December 20th. Citigroup increased their price target on Verizon Communications from $47.00 to $49.00 and gave the stock a "buy" rating in a research report on Wednesday, September 25th. Finally, Tigress Financial lifted their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a "buy" rating in a research report on Tuesday, October 1st. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, Verizon Communications has a consensus rating of "Hold" and an average price target of $46.51.

Verizon Communications Stock Down 0.8 %

The firm's 50-day moving average is $41.78 and its 200 day moving average is $41.86. The firm has a market capitalization of $166.70 billion, a P/E ratio of 17.07, a PEG ratio of 3.05 and a beta of 0.44. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping the consensus estimate of $1.18 by $0.01. The business had revenue of $33.30 billion during the quarter, compared to analysts' expectations of $33.42 billion. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm's revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.22 earnings per share. As a group, equities research analysts predict that Verizon Communications Inc. will post 4.61 EPS for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.84%. The ex-dividend date is Friday, January 10th. Verizon Communications's dividend payout ratio is currently 116.81%.

Hedge Funds Weigh In On Verizon Communications

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