Verizon Communications (NYSE:VZ) Coverage Initiated by Analysts at Barclays

Barclays began coverage on shares of Verizon Communications (NYSE:VZ) in a research note issued to investors on Thursday, MarketBeat.com reports. The firm issued an equal weight rating and a $43.00 price target on the cell phone carrier’s stock.

Other analysts have also issued reports about the company. Sanford C. Bernstein cut their price objective on Verizon Communications from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Friday, January 16th. Weiss Ratings lowered Verizon Communications from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, October 24th. Morgan Stanley cut their price target on Verizon Communications from $48.00 to $47.00 and set an “equal weight” rating for the company in a research note on Wednesday, December 10th. Royal Bank Of Canada reduced their price target on Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating for the company in a report on Thursday, October 30th. Finally, Scotiabank boosted their price target on Verizon Communications from $50.50 to $51.00 and gave the company a “sector perform” rating in a research note on Thursday, October 30th. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and twelve have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.00.

Verizon Communications Stock Performance

Shares of VZ opened at $39.49 on Thursday. The company’s 50 day moving average price is $40.40 and its 200 day moving average price is $41.65. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $47.35. The company has a market capitalization of $166.51 billion, a PE ratio of 8.44, a PEG ratio of 3.74 and a beta of 0.34. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.69 and a current ratio of 0.74.

Verizon Communications (NYSE:VZ) last released its earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.19 by $0.02. The company had revenue of $33.82 billion during the quarter, compared to the consensus estimate of $34.19 billion. Verizon Communications had a net margin of 14.43% and a return on equity of 19.31%. The company’s revenue was up 1.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.19 EPS. Research analysts expect that Verizon Communications will post 4.69 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Monday, January 12th will be issued a $0.69 dividend. The ex-dividend date of this dividend is Monday, January 12th. This represents a $2.76 dividend on an annualized basis and a yield of 7.0%. Verizon Communications’s dividend payout ratio is 58.97%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Advantage Trust Co grew its holdings in Verizon Communications by 549.5% during the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock worth $26,000 after acquiring an additional 500 shares in the last quarter. TruNorth Capital Management LLC lifted its position in shares of Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock worth $27,000 after purchasing an additional 305 shares during the last quarter. Holos Integrated Wealth LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in Verizon Communications in the third quarter valued at $29,000. Finally, RMG Wealth Management LLC purchased a new position in Verizon Communications in the second quarter valued at $30,000. Institutional investors own 62.06% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.