Verizon Communications (NYSE:VZ) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of Verizon Communications (NYSE:VZ) from a strong-buy rating to a buy rating in a research note issued to investors on Saturday.

A number of other analysts have also weighed in on VZ. Bank of America upped their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. Citigroup upped their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. UBS Group lifted their price target on Verizon Communications from $43.00 to $44.00 and gave the company a “neutral” rating in a research report on Wednesday, October 23rd. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Finally, Raymond James lifted their target price on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Nine equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $46.37.

Verizon Communications Stock Performance

Shares of NYSE VZ opened at $44.34 on Friday. Verizon Communications has a 12-month low of $36.46 and a 12-month high of $45.36. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The company has a market cap of $186.65 billion, a PE ratio of 19.11, a P/E/G ratio of 3.22 and a beta of 0.43. The stock has a 50 day simple moving average of $42.91 and a 200-day simple moving average of $41.69.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The company had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the prior year, the business posted $1.22 earnings per share. The company’s revenue for the quarter was up .9% compared to the same quarter last year. On average, equities research analysts forecast that Verizon Communications will post 4.61 EPS for the current year.

Verizon Communications Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were given a $0.678 dividend. This represents a $2.71 annualized dividend and a dividend yield of 6.12%. The ex-dividend date was Thursday, October 10th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.67. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new position in shares of Verizon Communications during the 3rd quarter valued at $31,000. Accordant Advisory Group Inc grew its stake in 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 in the last quarter. Mizuho Securities Co. Ltd. acquired a new position in Verizon Communications in the 2nd quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 2nd quarter worth about $33,000. Finally, MidAtlantic Capital Management Inc. acquired a new stake in shares of Verizon Communications during the 3rd quarter valued at about $44,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).