Hudson Square Research reiterated their hold rating on shares of Verizon Communications (NYSE:VZ) in a research report released on Tuesday morning, AnalystRatings.Net reports.
“After several days / years of speculation, Verizon and Vodafone made it official yesterday, announcing a deal for Verizon to acquire Vodafone’s 45% stake in Verizon Wireless for $130B. While the transaction will be accretive to Verizon, it is not enough to change our opinion on the stock and we maintain our Hold rating. We also question Verizon’s decision to double down on the US wireless industry at a time when smartphone penetration is maturing and competition is heating up.,” Hudson Square Research’s analyst commented.
VZ has been the subject of a number of other recent research reports. Analysts at Nomura reiterated a buy rating on shares of Verizon Communications (NYSE:VZ) in a research note to investors on Tuesday. They now have a $130.00 price target on the stock, up previously from $55.00. Separately, analysts at Oppenheimer raised their price target on shares of Verizon Communications (NYSE:VZ) from $55.00 to $56.00 in a research note to investors on Tuesday. They now have an outperform rating on the stock. Finally, analysts at RBC Capital upgraded shares of Verizon Communications (NYSE:VZ) from a sector perform rating to an outperform rating in a research note to investors on Tuesday.
Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and a consensus price target of $54.45.
Shares of Verizon Communications (NYSE:VZ) traded down 0.62% on Tuesday, hitting $46.49. The stock had a trading volume of 7,191,470 shares. Verizon Communications has a 1-year low of $40.51 and a 1-year high of $54.31. The stock has a 50-day moving average of $48.96 and a 200-day moving average of $49.77. The company has a market cap of $133.0 billion and a price-to-earnings ratio of 85.68. Verizon Communications also saw some unusual options trading activity on Monday. Investors purchased 25,162 call options on the stock. This is an increase of 157% compared to the typical daily volume of 9,780 call options.
The company also recently announced a quarterly dividend, which is scheduled for Friday, November 1st. Stockholders of record on Thursday, October 10th will be paid a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a dividend yield of 4.53%. The ex-dividend date is Tuesday, October 8th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.52.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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