Verizon Communications Inc. (NYSE:VZ) announced a quarterly dividend on Thursday, December 6th, RTT News reports. Shareholders of record on Thursday, January 10th will be given a dividend of 0.6025 per share by the cell phone carrier on Friday, February 1st. This represents a $2.41 annualized dividend and a yield of 4.21%.
Verizon Communications has raised its dividend payment by an average of 2.8% annually over the last three years and has increased its dividend annually for the last 11 consecutive years. Verizon Communications has a dividend payout ratio of 51.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Verizon Communications to earn $4.73 per share next year, which means the company should continue to be able to cover its $2.41 annual dividend with an expected future payout ratio of 51.0%.
NYSE VZ traded down $0.87 during trading on Thursday, hitting $57.23. 12,133,904 shares of the company’s stock traded hands, compared to its average volume of 16,618,637. The company has a market cap of $239.79 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 2.53 and a beta of 0.49. Verizon Communications has a 12-month low of $46.08 and a 12-month high of $61.58. The company has a quick ratio of 0.93, a current ratio of 0.97 and a debt-to-equity ratio of 1.90.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The firm had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $32.45 billion. During the same period in the prior year, the business posted $0.98 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. As a group, equities research analysts anticipate that Verizon Communications will post 4.68 EPS for the current year.
VZ has been the topic of several research analyst reports. Bank of America restated a “buy” rating and issued a $58.00 price objective on shares of Verizon Communications in a research report on Monday, October 22nd. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Scotiabank set a $62.00 price target on shares of Verizon Communications and gave the company a “buy” rating in a research report on Wednesday, October 24th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, November 1st. Finally, JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $59.00 to $62.00 and gave the company an “overweight” rating in a research report on Wednesday, October 24th. Eight equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $56.22.
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Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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