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Is Verizon Communications Inc. (NYSE: VZ) Worth What Its Shareholders Think It Is?

During the last session, Verizon Communications Inc. (NYSE:VZ)’s traded shares were 31.84 million, with the beta value of the company hitting 0.35. At the end of the trading day, the stock’s price was $34.82, reflecting an intraday loss of -2.93% or -$1.05. The 52-week high for the VZ share is $52.18, that puts it down -49.86 from that peak though still a striking 0.78% gain since the share price plummeted to a 52-week low of $34.55. The company’s market capitalization is $146.71B, and the average intraday trading volume over the past 10 days was 19.19 million shares, and the average trade volume was 18.81 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 27 analysts who have looked at this stock. 19 analyst(s) recommend to Hold the stock while 1 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 $1.17.

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Verizon Communications Inc. (NYSE:VZ) trade information

Verizon Communications Inc. (VZ) registered a -2.93% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -2.93% in intraday trading to $34.82 this Thursday, 05/25/23, hitting a weekly high. The stock’s 5-day price performance is -3.63%, and it has moved by -5.69% in 30 days. Based on these gigs, the overall price performance for the year is -31.29%. The short interest in Verizon Communications Inc. (NYSE:VZ) is 43.68 million shares and it means that shorts have 2.35 day(s) to cover.

The consensus price target of analysts on Wall Street is $41.98, which implies an increase of 17.06% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $37.00 and $51.00 respectively. As a result, VZ is trading at a discount of -46.47% off the target high and -6.26% off the low.

Verizon Communications Inc. (VZ) estimates and forecasts

Statistics show that Verizon Communications Inc. has underperformed its competitors in share price, compared to the industry in which it operates. Verizon Communications Inc. (VZ) shares have gone down -11.17% during the last six months, with a year-to-date growth rate less than the industry average at -9.65% against -2.40. Yet analysts are ramping up their growth forecast for the fiscal year 2023. Revenue is predicted to shrink -10.70% this quarter and then drop -9.80% in the quarter after that. In the rating firms’ projections, revenue will decrease -0.90% compared to the previous financial year.

Revenue for the current quarter is expected to be $33.67 billion as predicted by 15 analyst(s). Meanwhile, a consensus of 14 analyst(s) estimates revenue growth to $34.05 billion by the end of Sep 2023. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled $33.79 billion and $33.78 billion respectively. In this case, analysts expect current quarter sales to shrink by -0.40% and then jump by 0.80% 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 9.20%. While earnings are projected to return -4.90% in 2023, the next five years will return -0.26% per annum.

VZ Dividends

Verizon Communications Inc. is due to release its next quarterly earnings on July 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 2.61, with the dividend yield indicating at 7.50 percent, continuing the trend of increasing dividends in recent years.

Verizon Communications Inc. (NYSE:VZ)’s Major holders

Verizon Communications Inc. insiders own 0.03% of total outstanding shares while institutional holders control 64.24%, with the float percentage being 64.26%. Vanguard Group, Inc. (The) is the largest shareholder of the company, while 3,523 institutions own stock in it. As of Mar 30, 2023, the company held over 348.8 million shares (or 8.30% of all shares), a total value of $13.56 billion in shares.

The next largest institutional holding, with 333.1 million shares, is of Blackrock Inc.’s that is approximately 7.93% of outstanding shares. At the market price on Mar 30, 2023, these shares were valued at $12.95 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, 2022 indicates that Vanguard Total Stock Market Index Fund owns about 121.3 million shares. This amounts to just over 2.89 percent of the company’s overall shares, with a $4.78 billion market value. The same data shows that the other fund manager holds slightly less at 97.09 million, or about 2.31% of the stock, which is worth about $3.83 billion.

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