Verizon Communications (NYSE:VZ) Price Target Raised to $42.00 at Deutsche Bank Aktiengesellschaft

Verizon Communications (NYSE:VZ) had its target price lifted by Deutsche Bank Aktiengesellschaft from $40.00 to $42.00 in a research note issued to investors on Friday morning. The firm currently has a hold rating on the cell phone carrier’s stock.

Other equities research analysts have also issued research reports about the stock. StockNews.com lowered shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. UBS Group increased their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, December 20th. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 price target for the company. Royal Bank of Canada dropped their price objective on Verizon Communications from $46.00 to $42.00 in a research report on Friday. Finally, Wolfe Research increased their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research report on Friday. Eleven analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $46.29.

Verizon Communications Stock Performance

NYSE:VZ opened at $39.54 on Friday. The firm has a market capitalization of $166.43 billion, a PE ratio of 17.04, a PEG ratio of 3.27 and a beta of 0.46. The stock’s fifty day moving average is $40.89 and its 200 day moving average is $41.63. Verizon Communications has a fifty-two week low of $37.58 and a fifty-two week high of $45.36. 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) last released its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the previous year, the firm earned $1.08 earnings per share. On average, sell-side analysts anticipate that Verizon Communications will post 4.59 earnings per share for the current year.

Verizon Communications Cuts Dividend

The company 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. The ex-dividend date is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.85%. Verizon Communications’s payout ratio is 116.81%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fermata Advisors LLC grew its holdings in Verizon Communications by 4.5% in the third quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock valued at $253,000 after purchasing an additional 243 shares during the period. Austin Private Wealth LLC grew its stake in Verizon Communications by 3.0% in the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock valued at $379,000 after acquiring an additional 243 shares during the period. Cary Street Partners Asset Management LLC grew its stake in Verizon Communications by 3.4% in the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after acquiring an additional 249 shares during the period. Wynn Capital LLC increased its holdings in Verizon Communications by 4.4% in the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock worth $267,000 after acquiring an additional 250 shares in the last quarter. Finally, Western Financial Corp CA raised its position in Verizon Communications by 1.5% during the third quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock worth $786,000 after acquiring an additional 250 shares during the period. Hedge funds and other institutional investors 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).