Verizon Communications Inc (NYSE:VZ) has a beta value of 0.42 and has seen 14.76 million shares traded in the last trading session. The company, currently valued at $169.69B, closed the last trade at $41.06 per share which meant it lost -$0.3 on the day or -0.73% during that session. The VZ stock price is -10.47% off its 52-week high price of $45.36 and 14.0% above the 52-week low of $35.31. If we look at the company’s 10-day average daily trading volume, we find that it stood at 22.45 million shares traded. The 3-month trading volume is 17.93 million shares.
The consensus among analysts is that Verizon Communications Inc (VZ) is Buy stock at the moment, with a recommendation rating of 2.30. 0 analysts rate the stock as a Sell, while 0 rate it as Overweight. 6 out of 18 have rated it as a Hold, with 12 advising it as a Buy. 0 have rated the stock as Underweight. The expected earnings per share for the stock is 1.11.
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Verizon Communications Inc (NYSE:VZ) trade information
Sporting -0.73% in the red in last session, the stock has traded in the red over the last five days, with the highest price hit on recent trading when the VZ stock price touched $41.06 or saw a rise of 3.73%. Year-to-date, Verizon Communications Inc shares have moved 8.91%, while the 5-day performance has seen it change -1.35%. Over the past 30 days, the shares of Verizon Communications Inc (NYSE:VZ) have changed -7.06%. Short interest in the company has seen 48.59 million shares shorted with days to cover at 2.83.
Wall Street analysts have a consensus price target for the stock at $47, which means that the shares’ value could jump 12.64% from current levels. The projected low price target is $40.0 while the price target rests at a high of $68.0. In that case, then, we find that the current price level is -65.61% off the targeted high while a plunge would see the stock lose 2.58% from current levels.
Verizon Communications Inc (VZ) estimates and forecasts
Figures show that Verizon Communications Inc shares have underperformed across the wider relevant industry. The company’s shares have gained 4.40% over the past 6 months, with this year growth rate of -2.12%, compared to 7.60% for the industry. Revenue growth from the last financial year stood is estimated to be 0.50%.
15 analysts offering their estimates for the company have set an average revenue estimate of 35.49B for the current quarter. 8 have an estimated revenue figure of 33.63B for the next ending quarter. Year-ago sales stood 35.13B and 33.24B respectively for this quarter and the next, and analysts expect sales will grow by 1.00% for the current quarter and 0.50% for the next.
If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was -6.03% over the past 5 years. Earnings growth for 2024 is a modest -2.66% while over the next 5 years, the company’s earnings are expected to increase by 3.00%.
VZ Dividends
Verizon Communications Inc is expected to release its next earnings report in December this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 2.67 at a share yield of 6.51%. The company’s dividend yield has gone up over the past 12 months, with a 5 Year Average Dividend Yield of 5.52%.
Verizon Communications Inc (NYSE:VZ)’s Major holders
Insiders own 0.04% of the company shares, while shares held by institutions stand at 64.66% with a share float percentage of 64.68%. Investors are also buoyed by the number of investors in a company, with Verizon Communications Inc having a total of 3524.0 institutions that hold shares in the company. The top two institutional holders are VANGUARD GROUP INC with over 354.04 million shares worth more than $14.6 billion. As of 2024-06-30, VANGUARD GROUP INC held 8.3995% of shares outstanding.
The other major institutional holder is BLACKROCK INC., with the holding of over 348.87 million shares as of 2024-06-30. The firm’s total holdings are worth over $14.39 billion and represent 8.2769% of shares outstanding.
