Verizon Communications Inc (NYSE:VZ)’s traded shares stood at 1.0 million during the latest session, with the company’s beta value hitting 0.41. At the last check today, the stock’s price was $42.11, to imply an increase of 0.59% or $0.25 in intraday trading. The VZ share’s 52-week high remains $45.36, putting it -7.72% down since that peak but still an impressive 20.83% since price per share fell to its 52-week low of $33.34. The company has a valuation of $177.25B, with an average of 18.11 million shares in intraday trading volume over the past 10 days and average of 17.84 million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for Verizon Communications Inc (VZ), translating to a mean rating of 2.30. Of 18 analyst(s) looking at the stock, 0 analyst(s) give VZ a Sell rating. 0 of those analysts rate the stock as Overweight while 6 advise Hold as 12 recommend it as a Buy. 0 analyst(s) have given it an Underweight rating. Estimates put the company’s current-quarter earnings per share at 1.1.
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Verizon Communications Inc (NYSE:VZ) trade information
After registering a 0.59% upside in the latest session, Verizon Communications Inc (VZ) has traded red over the past five days. The 5-day price performance for the stock is -4.28%, and -5.63% over 30 days. With these gigs, the year-to-date price performance is 11.69%. Short interest in Verizon Communications Inc (NYSE:VZ) saw shorts transact 51.3 million shares and set a 2.23 days time to cover.
The extremes give us $40 and $68 for target low and target high price respectively. As such, VZ has been trading -61.48% off suggested target high and 5.01% from its likely low.
Verizon Communications Inc (VZ) estimates and forecasts
Looking at statistics comparing Verizon Communications Inc share performance against respective industry, we note that the company has underperformed competitors. Verizon Communications Inc (VZ) shares are 6.12% up over the last 6 months, with its year-to-date growth rate lower than industry average at -2.34% against 4.80%. Revenue is forecast to grow 1.90% this quarter before jumping 0.90% for the next one. The rating firms project that company’s revenue will grow 0.50% compared to the previous financial year.
Revenue forecast for the current quarter as set by 16 analysts is 35.42B. Meanwhile, for the current quarter, a total of 9 analyst(s) estimate revenue growth to 33.67B.Earnings reports from the last fiscal year show that sales brought in 35.13B and 33.24B respectively in the corresponding quarters. In this case, analysts estimate current quarter sales to rise 0.80% before jumping 1.30% in the following quarter.
An assessment of the company’s 5-year growth patterns shows that annual earnings shrunk an estimated -6.03% for the past 5-year period. While 2024 is set for a -2.64% return in earnings, projections for the next 5 years are at 0.89% annually.
VZ Dividends
Verizon Communications Inc has its next earnings report out on 2025-Jan-24. However, it is important to take into account that this dividend yield ratio is just an indicator to only serve the purpose of guidance. Investors interested to invest in the stock should ponder company’s other fundamental and operations related aspects too. Verizon Communications Inc has a forward dividend ratio of 2.67, with the share yield ticking at 6.35% to continue the rising pattern observed over the past year. The company’s average dividend yield trailing the past 5-year period is 5.48%.
Verizon Communications Inc (NYSE:VZ)’s Major holders
Verizon Communications Inc insiders hold 0.04% of total outstanding shares, with institutional holders owning 64.59% of the shares at 64.61% float percentage. In total, 64.59% institutions holds shares in the company, led by VANGUARD GROUP INC. As of 2024-06-30, the company held over 354.04 million shares (or 8.3995% of shares), all amounting to roughly $14.6 billion.
The next major institution holding the largest number of shares is BLACKROCK INC. with 348.87 million shares, or about 8.2769% of shares outstanding. As of the market price on 2024-06-30, these shares were worth $14.39 billion.
We also have Vanguard Total Stock Market Index Fund and Vanguard 500 Index Fund as the top two Mutual Funds with the largest holdings of the Verizon Communications Inc (VZ) shares. Going by data provided on Jun 30, 2024, Vanguard Total Stock Market Index Fund holds roughly 119.74 shares. This is just over 2.84% of the total shares, with a market valuation of $5.05 billion. Data from the same date shows that the other fund manager holds a little less at 108.03, or 2.57% of the shares, all valued at about 4.55 billion.
