During the last session, Verizon Communications Inc (NYSE:VZ)’s traded shares were 16.36 million, with the beta value of the company hitting 0.41. At the end of the trading day, the stock’s price was $41.28, reflecting an intraday loss of -0.12% or -$0.05. The 52-week high for the VZ share is $45.36, that puts it down -9.88 from that peak though still a striking 18.02% gain since the share price plummeted to a 52-week low of $33.84. The company’s market capitalization is $173.77B, and the average intraday trading volume over the past 10 days was 20.03 million shares, and the average trade volume was 17.83 million shares over the past three months.
Verizon Communications Inc (VZ) received a consensus recommendation of Buy from analysts. That translates to a mean rating of 2.30. VZ has a Sell rating from 0 analyst(s) out of 18 analysts who have looked at this stock. 6 analyst(s) recommend to Hold the stock while 0 suggest Overweight, and 12 recommend a Buy rating for it. 0 analyst(s) has rated the stock Underweight. Company’s earnings per share (EPS) for the current quarter are expected to be 1.11.
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Verizon Communications Inc (NYSE:VZ) trade information
Verizon Communications Inc (VZ) registered a -0.12% downside in the last session and has traded in the red over the past 5 sessions. The stock plummet -0.12% in intraday trading to $41.28, hitting a weekly high. The stock’s 5-day price performance is -3.69%, and it has moved by -8.69% in 30 days. Based on these gigs, the overall price performance for the year is 19.24%. The short interest in Verizon Communications Inc (NYSE:VZ) is 48.59 million shares and it means that shorts have 2.83 day(s) to cover.
The consensus price target of analysts on Wall Street is $47, which implies an increase of 12.17% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $40 and $68 respectively. As a result, VZ is trading at a discount of -64.73% off the target high and 3.1% 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 up 5.31% during the last six months, with a year-to-date growth rate less than the industry average at -2.12% against 5.20. Yet analysts are ramping up their growth forecast for the fiscal year 2024. Revenue is predicted to grow 2.80% this quarter and then jump 0.90% in the quarter after that. In the rating firms’ projections, revenue will increase 0.50% compared to the previous financial year.
As companies strive to predict their financial trajectories, we turn our attention to the forthcoming financial quarter. Here are the insights gathered from industry analysts. Revenue for the current quarter is expected to be 35.47B as predicted by 14 analyst(s). Meanwhile, a consensus of 7 analyst(s) estimates revenue growth to 33.65B by the end of current fiscal year. As per earnings report from last fiscal year’s results, sales for the corresponding quarters totaled 35.13B and 33.24B respectively. In this case, analysts expect current quarter sales to grow by 1.00% and then jump by 1.20% in the coming quarter.
An analysis of the company’s performance over the past 5 years shows that the company’s earnings shrunk an estimated -6.03%. While earnings are projected to return -2.66% in 2024, the next five years will return 3.00% per annum.
VZ Dividends
Verizon Communications Inc is due to release its next quarterly earnings on 2025-Jan-24. 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 2.67, with the dividend yield indicating at 6.47 percent, continuing the trend of increasing dividends in recent years. The average dividend yield of the company for the last 5 years is 5.48%.
Verizon Communications Inc (NYSE:VZ)’s Major holders
Verizon Communications Inc insiders own 0.04% of total outstanding shares while institutional holders control 64.56%, with the float percentage being 64.59%. VANGUARD GROUP INC is the largest shareholder of the company, while 3517.0 institutions own stock in it. As of 2024-06-30, the company held over 354.04 million shares (or 8.3995% of all shares), a total value of $14.6 billion in shares.
The next largest institutional holding, with 348.87 million shares, is of BLACKROCK INC.’s that is approximately 8.2769% of outstanding shares. At the market price on 2024-06-30, these shares were valued at $14.39 billion.
