Verizon Communications Inc. (NYSE:VZ – Get Free Report) traded up 2.1% on Wednesday. The company traded as high as $46.55 and last traded at $46.2050. 25,173,728 shares traded hands during trading, a decline of 8% from the average daily volume of 27,383,225 shares. The stock had previously closed at $45.24.
Verizon Communications News Summary
Here are the key news stories impacting Verizon Communications this week:
- Positive Sentiment: Verizon is expanding its NFL partnership with 5G and private wireless technology for stadium operations, official communications and fan connectivity. The initiative could showcase its network and support future business opportunities, though near-term financial benefits were not specified. Can Verizon’s 5G Expansion in the 2026 NFL Season Drive Future Growth?
- Neutral Sentiment: Verizon raised the caps on its tender offers and accepted about $664 million of notes across five series, above the original $500 million aggregate target. Buying back notes may help manage liabilities, but requires cash and is not by itself a major change to the company’s growth outlook. Verizon announces cap increases and expiration and results of its tender offers for five series of notes
- Neutral Sentiment: Verizon launched holiday discounts on devices and customer rewards. Promotions may help attract or retain subscribers, though their effect on customer growth and margins is unclear. Verizon Makes the Holidays Simple with Our Best Deals and Rewards Just for Being a Customer
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Sanford C. Bernstein reduced their target price on Verizon Communications from $47.00 to $45.00 in a research note on Tuesday, October 13th. Daiwa Securities Group reduced their price objective on shares of Verizon Communications from $55.00 to $52.00 and set a “buy” rating for the company in a research report on Tuesday, October 27th. Weiss Ratings reissued a “buy (b)” rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Arete Research cut their target price on shares of Verizon Communications from $71.00 to $62.00 and set a “buy” rating for the company in a research note on Thursday, October 1st. Finally, Wells Fargo & Company lifted their target price on shares of Verizon Communications from $43.00 to $47.00 and gave the stock an “equal weight” rating in a report on Monday, July 27th. Thirteen equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $51.05.
View Our Latest Research Report on Verizon Communications
Verizon Communications Price Performance
The firm has a market cap of $189.74 billion, a P/E ratio of 11.68, a price-to-earnings-growth ratio of 1.87 and a beta of 0.28. The business has a 50-day moving average of $46.62 and a two-hundred day moving average of $46.90. The company has a current ratio of 0.63, a quick ratio of 0.58 and a debt-to-equity ratio of 1.33.
Verizon Communications (NYSE:VZ – Get Free Report) last posted its quarterly earnings data on Monday, October 26th. The cell phone carrier reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.27 by $0.04. The company had revenue of $34.31 billion for the quarter, compared to analyst estimates of $34.77 billion. Verizon Communications had a return on equity of 19.75% and a net margin of 11.78%. The firm’s quarterly revenue was up 1.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.21 earnings per share. On average, sell-side analysts anticipate that Verizon Communications Inc. will post 5.08 earnings per share for the current fiscal year.
Verizon Communications Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Friday, October 9th were given a dividend of $0.7075 per share. The ex-dividend date of this dividend was Friday, October 9th. This represents a $2.83 annualized dividend and a dividend yield of 6.2%. Verizon Communications’s dividend payout ratio (DPR) is currently 72.19%.
Insider Buying and Selling at Verizon Communications
In other news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction that occurred on Tuesday, October 27th. The stock was sold at an average price of $43.00, for a total value of $47,300.00. Following the completion of the transaction, the chief executive officer directly owned 98,866 shares of the company’s stock, valued at $4,251,238. This represents a 1.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 11,000 shares of company stock valued at $516,373. 0.03% of the stock is owned by insiders.
Hedge Funds Weigh In On Verizon Communications
Several hedge funds have recently made changes to their positions in the stock. Robinswood Financial LLC purchased a new stake in Verizon Communications in the 1st quarter worth $27,000. Gill Capital Partners LLC boosted its stake in shares of Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 265 shares during the period. Balance Wealth Partners LLC bought a new position in shares of Verizon Communications in the third quarter worth about $37,000. Bare Financial Services Inc grew its position in shares of Verizon Communications by 37.4% during the second quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 229 shares in the last quarter. Finally, Frazier Financial Advisors LLC boosted its stake in Verizon Communications by 32.7% in the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock worth $45,000 after purchasing an additional 219 shares during the period. 62.06% of the stock is currently owned by hedge funds and other institutional investors.
About Verizon Communications
Verizon Communications Inc is a telecommunications company that provides wireless and wireline communications services in the United States. Its offerings include mobile voice and data plans, smartphones and other connected devices, broadband internet, and related services for consumers, businesses, and government customers.
The company operates a nationwide wireless network and provides home internet through fiber-optic service, including Fios, and fixed wireless access. For business and public-sector customers, Verizon offers connectivity, networking, security, and Internet of Things services.
Verizon was formed in 2000 through the merger of Bell Atlantic and GTE.
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