In the last trading session, 21.32 million shares of the Verizon Communications Inc. (NYSE:VZ) were traded, and its beta was 0.43. Most recently the company’s share price was $53.24, and it changed around -$0.66 or -1.22% from the last close, which brings the market valuation of the company to $223.15B. VZ currently trades at a discount to its 52-week high of $61.95, offering almost -16.36% off that amount. The share price’s 52-week low was $53.83, which indicates that the current value has fallen by an impressive -1.11% since then. We note from Verizon Communications Inc.’s average daily trading volume that its 10-day average is 18.46 million shares, with the 3-month average coming to 15.23 million.
Verizon Communications Inc. stock received a consensus recommendation rating of a Hold, based on a mean score of 2.70. If we narrow it down even further, the data shows that 1 out of 28 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 19 recommended VZ as a Hold, whereas 6 deemed it a Buy, and 1 rated it as Underweight. Verizon Communications Inc. is expected to report earnings per share of $1.36 for the current quarter.
Verizon Communications Inc. (NYSE:VZ) trade information
Instantly VZ has showed a red trend with a performance of -1.22% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of 54.85 on Friday, 10/08/21 increased the stock’s daily price by 2.94%. The company’s shares are currently down -9.38% year-to-date, but still down -1.95% over the last five days. On the other hand, Verizon Communications Inc. (NYSE:VZ) is -2.20% down in the 30-day period. We can see from the shorts that 50.28 million shares have been sold at a short interest cover period of 3.29 day(s).
The consensus price target as assigned by Wall Street analysts is $60.45, which translates to bulls needing to increase their stock price by 11.93% from its current value. Analyst projections state that VZ is forecast to be at a low of $52.00 and a high of $68.00. In order for the stock price to hit the forecast high, the stock would need to plunge -27.72% from its current level, while the stock would need to crash 2.33% from its current level to reach the projected low.
Verizon Communications Inc. (VZ) estimates and forecasts
Verizon Communications Inc. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have fallen -7.47 percent over the past six months and at a 8.37% annual growth rate that is well above the industry average of -9.40%. Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 8.80% in revenue this quarter, and will report an increase of 5.80% in the next quarter. The year-over-year growth rate is expected to be 5.40%, up from the previous year.
Consensus estimates provided by 19 financial analysts predict the company will bring in an average of $33.74 billion in revenue for the current quarter. 17 analysts expect Verizon Communications Inc. to make $35.06 billion in revenue for the quarter ending Dec 2021. The company’s sales for the same quarters a year ago were $31.59 billion and $34.69 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 6.80%. Forecasts for the next quarter put sales growth at 1.10%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -0.30%. Verizon Communications Inc. earnings are expected to increase by -7.60% in 2021, but the outlook is positive 3.63% per year for the next five years.
Verizon Communications Inc.’s next quarterly earnings report is expected to be released on October 20. The annual dividend yield of the stock is 4.71 percent and its annual dividend per share was 2.51. It is important to note, however, that the 4.71% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision. The average dividend yield for the past five years averaged 4.42 per year.
Verizon Communications Inc. (NYSE:VZ)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.02% of Verizon Communications Inc. shares, and 66.52% of them are in the hands of institutional investors. The stock currently has a share float of 66.53%. Verizon Communications Inc. stock is held by 3,472 institutions, with Vanguard Group, Inc. (The) being the largest institutional investor. By Mar 30, 2021, it held 7.75% of the shares, which is about 320.96 million shares worth $18.66 billion.
Blackrock Inc., with 7.38% or 305.37 million shares worth $17.76 billion as of Mar 30, 2021, holds the second largest percentage of outstanding shares.
Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund were the top two Mutual Funds as of Mar 30, 2021. The former held 110.85 million shares worth $6.45 billion, making up 2.68% of all outstanding shares. On the other hand, Vanguard 500 Index Fund held roughly 84.74 million shares worth around $4.93 billion, which represents about 2.05% of the total shares outstanding.