Verizon Communications Inc. (VZ) Stock Performance and Analyst Outlook

As of October 22, 2024, Verizon Communications Inc. (VZ) stock has been stable, trading at around $43.77 per share. The stock experienced a slight decline of 0.3% on October 21, trading as low as $43.83 and closing at $43.88.

The company’s recent quarterly earnings, reported on July 22, showed an EPS of $1.15, meeting the consensus estimate. However, the revenue of $32.80 billion was slightly below analysts’ expectations of $33.05 billion. Despite this, Verizon’s revenue saw a 0.6% increase on a year-over-year basis.

Analysts have maintained a positive outlook on Verizon. Raymond James recently increased their price target from $44.00 to $48.00 and gave the stock an “outperform” rating. This move reflects optimism in the company’s future performance.

Verizon’s financial health is also highlighted by its market capitalization of $183.82 billion, a price-to-earnings ratio of 16.37, and a debt-to-equity ratio of 1.29. The company’s dividend yield stands at 6.20%, which is attractive to income-focused investors.

Institutional investors continue to show confidence in Verizon, with 62.06% of the stock owned by these entities. Recent increases in holdings by firms such as Pittenger & Anderson Inc. and Financial Synergies Wealth Advisors Inc. further indicate investor confidence).