Verizon Communications (NYSE:VZ) Stock Price Up 1.4% – Time to Buy?

Verizon Communications Inc. (NYSE:VZ)’s share price traded up 1.4% on Monday . The company traded as high as $38.97 and last traded at $38.86. 23,987,092 shares traded hands during trading, an increase of 36% from the average session volume of 17,659,684 shares. The stock had previously closed at $38.34.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. KeyCorp lowered Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. UBS Group raised their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Citigroup lifted their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Finally, Tigress Financial upped their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $46.54.

Verizon Communications Stock Up 0.7 %

The stock’s fifty day simple moving average is $41.00 and its two-hundred day simple moving average is $41.68. 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 company has a market capitalization of $164.34 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 3.25 and a beta of 0.46.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same quarter in the prior year, the business earned $1.22 earnings per share. Verizon Communications’s quarterly revenue was up .9% on a year-over-year basis. On average, sell-side analysts predict that Verizon Communications Inc. will post 4.59 earnings per share for the current fiscal year.

Verizon Communications Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.94%. The ex-dividend date is Friday, January 10th. Verizon Communications’s payout ratio is 116.81%.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds have recently added to or reduced their stakes in the stock. Capital Performance Advisors LLP acquired a new position in Verizon Communications during the 3rd quarter worth $31,000. Legend Financial Advisors Inc. lifted its holdings in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares during the period. Accordant Advisory Group Inc grew its position in Verizon Communications by 137.6% in the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after buying an additional 450 shares in the last quarter. Cedar Mountain Advisors LLC increased its stake in Verizon Communications by 655.5% during the 4th quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares during the period. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications during the 3rd quarter worth about $44,000. 62.06% of the stock is currently 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).