Verizon Communications Inc. (VZ) to Issue Quarterly Dividend of $0.67 on August 1st (2024)

Posted by Defense World Staff on Jul 8th, 2024

Verizon Communications Inc. (VZ) to Issue Quarterly Dividend of $0.67 on August 1st (1)Verizon Communications Inc. (NYSE:VZGet Free Report) announced a quarterly dividend on Wednesday, June 5th, RTT News reports. Stockholders of record on Wednesday, July 10th will be paid a dividend of 0.665 per share by the cell phone carrier on Thursday, August 1st. This represents a $2.66 annualized dividend and a dividend yield of 6.45%. The ex-dividend date is Wednesday, July 10th.

Verizon Communications has raised its dividend by an average of 2.0% per year over the last three years and has raised its dividend annually for the last 19 consecutive years. Verizon Communications has a dividend payout ratio of 56.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Verizon Communications to earn $4.71 per share next year, which means the company should continue to be able to cover its $2.66 annual dividend with an expected future payout ratio of 56.5%.

Verizon Communications Price Performance

VZ stock opened at $41.27 on Monday. The stock’s 50 day moving average is $40.27 and its two-hundred day moving average is $40.19. Verizon Communications has a 52-week low of $30.14 and a 52-week high of $43.42. The company has a market capitalization of $173.72 billion, a PE ratio of 15.40, a P/E/G ratio of 3.75 and a beta of 0.41. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business had revenue of $33 billion during the quarter, compared to analyst estimates of $33.23 billion. During the same quarter in the previous year, the firm earned $1.20 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Analysts predict that Verizon Communications will post 4.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

VZ has been the subject of a number of research reports. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Royal Bank of Canada boosted their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. The Goldman Sachs Group started coverage on shares of Verizon Communications in a research report on Monday, July 1st. They issued a “buy” rating and a $50.00 price target on the stock. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Saturday, May 4th. Finally, Tigress Financial raised their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Six analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Moderate Buy” and a consensus target price of $45.14.

View Our Latest Research Report on VZ

About Verizon Communications

(Get Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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Verizon Communications Inc. (VZ) to Issue Quarterly Dividend of $0.67 on August 1st (2)

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Verizon Communications Inc. (VZ) to Issue Quarterly Dividend of $0.67 on  August 1st (2024)
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