In recent trading session, Verizon Communications Inc (NYSE:VZ) saw 3.74 million shares changing hands at last check today with its beta currently measuring 0.40. Company’s recent per share price level of $40.33 trading at -$0.57 or -1.41% at last check today assigns it a market valuation of $169.75B. That most recent trading price of VZ’s stock is at a discount of -7.66% from its 52-week high price of $43.42 and is indicating a premium of 25.27% from its 52-week low price of $30.14. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 16.39 million shares which gives us an average trading volume of 17.44 million if we extend that period to 3-months.
For Verizon Communications Inc (VZ), analysts’ consensus is at an average recommendation of Buy while assigning it a mean rating of 2.22. Splitting up the data highlights that, out of 18 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 6 suggested the stock as a Hold whereas 12 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of 1.18 in the current quarter.
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Verizon Communications Inc (NYSE:VZ) trade information
Upright in the red during last session for losing -1.41%, in the last five days VZ remained trading in the red while hitting it’s week-highest on Wednesday, 08/14/24 when the stock touched $40.33 price level, adding 1.87% to its value on the day. Verizon Communications Inc’s shares saw a change of 6.96% in year-to-date performance and have moved -0.48% in past 5-day. Verizon Communications Inc (NYSE:VZ) showed a performance of -4.06% in past 30-days. Number of shares sold short was 47.99 million shares which calculate 2.56 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of 47.5 to the stock, which implies a rise of 15.09% to its recent value today. Analysts have been projecting 40 as a low price target for the stock while placing it at a high target of 68. It follows that stock’s current price would jump 0.82% in reaching the projected high whereas dropping to the targeted low would mean a gain of 0.82% for stock’s current value.
Verizon Communications Inc (VZ) estimates and forecasts
Statistics highlight that Verizon Communications Inc is scoring comparatively lower than the scores of other players of the relevant industry. The company added 0.44% of value to its shares in past 6 months, showing an annual growth rate of -2.97% while that of industry is 8.10. Apart from that, the company came lowering its revenue forecast for fiscal year 2024. This year revenue growth is estimated to rise 0.90% from the last financial year’s standing.
16 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of 33.75B for the same. And 15 analysts are in estimates of company making revenue of 35.63B in the next quarter. Company posted 30.48B and 35.13B of sales in current and next quarters respectively a year earlier.
Weighing up company’s earnings over the past 5-year and in the next 5-year periods, we find the company posting an annual earnings growth rate of -6.03% during past 5 years. In 2024, company’s earnings growth rate is likely to be around -2.81% while estimates for its earnings growth in next 5 years are of 0.82%.
VZ Dividends
Verizon Communications Inc is more likely to be releasing its next quarterly report on 2024-Oct-22 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt. With an annual yield of 6.60%, the share has a forward dividend of 2.66 which implies that company’s dividend yield remained growing in trailing twelve months while having a 5 year average dividend yield of 5.41%.
Verizon Communications Inc (NYSE:VZ)’s Major holders
Insiders are in possession of 0.04% of company’s total shares while institution are holding 64.48 percent of that, with stock having share float percentage of 64.50%. Investors also watch the number of corporate investors in a company very closely, which is 64.48% institutions for Verizon Communications Inc that are currently holding shares of the company. VANGUARD GROUP INC is the top institutional holder at VZ for having 351.27 million shares of worth $14.74 billion. And as of 2024-03-31, it was holding 8.3337 of the company’s outstanding shares.
The second largest institutional holder is BLACKROCK INC., which was holding about 341.46 million shares on 2024-03-31. The number of shares represents firm’s hold over 8.1011 of outstanding shares, having a total worth of $14.33 billion.
On the other hand, Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund are the top two Mutual Funds which own company’s shares. As of Mar 31, 2024, the former fund manager was holding 118.97 shares of worth $4.79 billion or 2.83% of the total outstanding shares. The later fund manager was in possession of 105.95 shares on Mar 31, 2024, making its stake of worth around $4.27 billion in the company or a holder of 2.52% of company’s stock.
