Verizon (NYSE: VZ) was downgraded by analysts at Goldman Sachs from an “outperform” rating to an “in-line” rating in a research report issued to clients and investors on Wednesday.
A number of other analysts have also recently weighed in on VZ. Analysts at Argus reiterated a “buy” rating on shares of Verizon in a research note to investors on Wednesday. They now have a $54.00 price target on the stock, up previously from $6.00. Separately, analysts at Macquarie raised their price target on shares of Verizon from $49.00 to $51.00 in a research note to investors on Wednesday, March 6th. They now have an “outperform” rating on the stock. Finally, analysts at Nomura reiterated a “buy” rating on shares of Verizon in a research note to investors on Wednesday, March 6th. They now have a $49.00 price target on the stock.
Thirteen research analysts have rated the stock with a buy rating, four have assigned an overweight rating, and seventeen have given a hold rating to the stock. Verizon has an average rating of “overweight” and an average price target of $48.08.
Verizon traded down 0.87% on Wednesday, hitting $47.94. Verizon has a 52-week low of $36.80 and a 52-week high of $48.77. The stock’s 50-day moving average is currently $45.10. The company has a market cap of $137.0 billion and a price-to-earnings ratio of 157.52.
Verizon last announced its earnings results on Tuesday, January 22nd. The company reported $0.38 earnings per share for the quarter, missing the analysts’ consensus estimate of $0.52 by $0.14. The company had revenue of $30.05 billion for the quarter, compared to the consensus estimate of $29.75 billion. During the same quarter last year, the company posted $0.52 earnings per share. Verizon’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Verizon will post $2.77 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.52 per share. This represents a $2.06 dividend on an annualized basis and a yield of 4.26%. The ex-dividend date of this dividend is Monday, April 8th.
Verizon Communications Inc. (Verizon) is a holding company. The Company is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.
