During the recent session, Verizon Communications Inc. (NYSE:VZ)’s traded shares were 3.44 million, with the beta value of the company hitting 0.40. At the last check today, the stock’s price was $51.30, reflecting an intraday gain of 1.00% or $0.51. The 52-week high for the VZ share is $56.85, that puts it down -10.82 from that peak though still a striking 11.21% gain since the share price plummeted to a 52-week low of $45.55. The company’s market capitalization is $212.47B, and the average intraday trading volume over the past 10 days was 22.76 million shares, and the average trade volume was 23.73 million shares over the past three months.
Verizon Communications Inc. (VZ) received a consensus recommendation of a Hold from analysts. That translates to a mean rating of 2.80. VZ has a Sell rating from 1 analyst(s) out of 29 analysts who have looked at this stock. 20 analyst(s) recommend to Hold the stock while 2 suggest Overweight, and 5 recommend a Buy rating for it. 1 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be $1.35.
Verizon Communications Inc. (NYSE:VZ) trade information
Verizon Communications Inc. (VZ) registered a 1.00% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.00% in intraday trading to $51.30 this Wednesday, 06/22/22, hitting a weekly high. The stock’s 5-day price performance is 3.32%, and it has moved by 2.54% in 30 days. Based on these gigs, the overall price performance for the year is -9.90%. The short interest in Verizon Communications Inc. (NYSE:VZ) is 45.11 million shares and it means that shorts have 1.63 day(s) to cover.
The consensus price target of analysts on Wall Street is $57.70, which implies an increase of 11.09% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $49.30 and $71.00 respectively. As a result, VZ is trading at a discount of -38.4% off the target high and 3.9% off the low.
Verizon Communications Inc. (VZ) estimates and forecasts
Statistics show that Verizon Communications Inc. has outperformed its competitors in share price, compared to the industry in which it operates. Verizon Communications Inc. (VZ) shares have gone down -4.33% during the last six months, with a year-to-date growth rate more than the industry average at 0.19% against -13.70. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to shrink -1.50% this quarter and then drop -2.10% in the quarter after that. In the rating firms’ projections, revenue will increase 2.40% compared to the previous financial year.
Revenue for the current quarter is expected to be $33.78 billion as predicted by 15 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $34 billion by the end of Sep 2022. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $32.74 billion and $33.2 billion respectively. In this case, analysts expect current quarter sales to grow by 3.20% and then jump by 2.40% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 10.60%. While earnings are projected to return 23.70% in 2022, the next five years will return 3.59% per annum.
Verizon Communications Inc. is due to release its next quarterly earnings between April 19 and April 25. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for Verizon Communications Inc. is 2.56, with the dividend yield indicating at 5.04 percent, continuing the trend of increasing dividends in recent years.
Verizon Communications Inc. (NYSE:VZ)’s Major holders
Verizon Communications Inc. insiders own 0.06% of total outstanding shares while institutional holders control 67.20%, with the float percentage being 67.23%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 3,649 institutions own stock in it. As of Dec 30, 2021, the company held over 321.65 million shares (or 7.66% of all shares), a total value of $16.71 billion in shares.
The next largest institutional holding, with 321.65 million shares, is of Vanguard Group, Inc. (The)’s that is approximately 7.66% of outstanding shares. At the market price on Dec 30, 2021, these shares were valued at $16.71 billion.
Also, the Mutual Funds coming in first place with the largest holdings of Verizon Communications Inc. (VZ) shares are Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund. Data provided on Dec 30, 2021 indicates that Vanguard Total Stock Market Index Fund owns about 107.36 million shares. This amounts to just over 2.56 percent of the company’s overall shares, with a $5.58 billion market value. The same data shows that the other fund manager holds slightly less at 87.68 million, or about 2.09% of the stock, which is worth about $4.56 billion.