Scotiabank Cuts Verizon Communications (NYSE:VZ) Price Target to $51.50

Verizon Communications (NYSE:VZ) had its price objective trimmed by Scotiabank from $52.50 to $51.50 in a research report released on Friday,Benzinga reports. The brokerage currently has a sector outperform rating on the cell phone carrier’s stock.

A number of other brokerages have also commented on VZ. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a report on Wednesday, August 26th. Freedom Capital upgraded Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Barclays raised their target price on Verizon Communications from $45.00 to $46.00 and gave the company an “equal weight” rating in a research report on Monday, July 27th. BNP Paribas Exane lowered their target price on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. Finally, Royal Bank Of Canada boosted their price target on shares of Verizon Communications from $46.00 to $47.00 and gave the stock a “sector perform” rating in a report on Monday, July 27th. Eight research analysts have rated the stock with a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $50.90.

Verizon Communications Price Performance

Verizon Communications stock opened at $45.91 on Friday. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $51.68. The company’s 50 day moving average price is $48.39 and its two-hundred day moving average price is $47.22. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36. The stock has a market cap of $190.75 billion, a P/E ratio of 11.96, a P/E/G ratio of 1.56 and a beta of 0.26.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion for the quarter, compared to the consensus estimate of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The company’s revenue was down .7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, equities analysts predict that Verizon Communications will post 5.03 earnings per share for the current year.

Verizon Communications Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Shareholders of record on Friday, October 9th will be given a $0.7075 dividend. This represents a $2.83 dividend on an annualized basis and a yield of 6.2%. The ex-dividend date of this dividend is Friday, October 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 73.70%.

Insider Activity

In other news, CEO Kyle Malady sold 1,100 shares of the company’s stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $46.40, for a total transaction of $51,040.00. Following the transaction, the chief executive officer owned 103,266 shares of the company’s stock, valued at $4,791,542.40. This represents a 1.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,600 shares of company stock valued at $322,597 in the last 90 days. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Several large investors have recently added to or reduced their stakes in VZ. Gill Capital Partners LLC increased its stake in shares of Verizon Communications by 74.6% in the second quarter. Gill Capital Partners LLC now owns 620 shares of the cell phone carrier’s stock worth $26,000 after purchasing an additional 265 shares in the last quarter. Robinswood Financial LLC bought a new stake in shares of Verizon Communications in the first quarter valued at approximately $27,000. Lam Group Inc. purchased a new stake in shares of Verizon Communications during the 1st quarter valued at approximately $28,000. Bare Financial Services Inc lifted its stake in shares of Verizon Communications by 37.4% during the 2nd quarter. Bare Financial Services Inc now owns 841 shares of the cell phone carrier’s stock valued at $36,000 after buying an additional 229 shares in the last quarter. Finally, Frazier Financial Advisors LLC lifted its stake in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier’s stock valued at $45,000 after buying an additional 219 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Trending Headlines about Verizon Communications

Here are the key news stories impacting Verizon Communications this week:

• Positive Sentiment: Multi-year Versant renewal: Verizon reached a long-term distribution agreement with Versant, keeping channels including USA Network, CNBC, Golf Channel, E!, SYFY and Oxygen True Crime available to Fios customers. The agreement reduces near-term programming disruption risk and supports customer retention. Versant Reaches Multi-Year Distribution Renewal Agreement With Verizon
• Positive Sentiment: Analyst still sees upside: Scotiabank maintained its “sector outperform” rating, although it reduced its price target to $51.50 from $52.50. The revised target remains meaningfully above the recent trading level, suggesting the bank continues to view Verizon as undervalued. Scotiabank Verizon Price Target Update
• Positive Sentiment: Income appeal remains intact: Verizon’s quarterly dividend is $0.7075 per share, or $2.83 annualized, representing a yield of roughly 6%. Its low valuation and history of earnings surprises may provide support for income-oriented investors, although the payout ratio is elevated.
• Neutral Sentiment: Dead-zone partnership: Verizon, AT&T and T-Mobile formed a joint venture aimed at improving wireless coverage in underserved areas. The initiative could strengthen service quality and reduce customer frustration, but it may also require additional investment and does not immediately change earnings expectations. AT&T, T-Mobile and Verizon Form Joint Venture
• Negative Sentiment: Fios lost Starz programming: Starz confirmed that Verizon Fios customers have lost access to its channels, on-demand content and app amid failed negotiations. The dispute could increase churn or lead to higher content costs if Verizon restores the service. Verizon Fios Customers Lose Access to Starz
• Negative Sentiment: Legacy-network regulatory risk: The FCC’s pause on Verizon’s planned copper-service shutdown in parts of New Jersey could delay modernization and prolong operating costs.

Verizon Communications Company Profile

Verizon Communications Inc is a telecommunications company headquartered in New York City and listed on the New York Stock Exchange under the symbol VZ. The company was formed in 2000 through the merger of Bell Atlantic and GTE and has developed into one of the largest communications providers in the United States.

Verizon’s consumer business provides wireless voice and data services, smartphones and other connected devices, home internet, broadband, and related communications products.