Stocks of Verizon Communications Inc (NYSE:VZ) traded higher last session on Wall Street, down -2.86% to $39.80.
VZ stock price is now -1.99% away from the 50-day moving average and 1.23% away from the 200-day moving average. The market capitalization of the company currently stands at $167.54B.
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With the price target of $50, Goldman recently initiated with Buy rating for Verizon Communications Inc (NYSE: VZ). On March 22, 2024, Redburn Atlantic Upgraded its previous ‘Sell’ rating to ‘Neutral’ on the stock increasing its target price from $33 to quote $39, while ‘Barclays’ rates the stock as ‘Equal Weight’
In other news, Silliman Craig L., Former Officer bought 9,259 shares of the company’s stock on Aug 01 ’24. The stock was bought for $377,026 at an average price of $40.72. An SEC document containing details of the transaction can be found on the SEC’s website. On Feb 22 ’24, EVP and Group CEO-VZ Business Malady Kyle sold 24,000 shares of the business’s stock. A total of $979,200 was realized by selling the stock at an average price of $40.80. This leaves the insider owning 35,201 shares of the company worth $1.4 million. A total of 0.05% of the company’s stock is owned by insiders.
During the past 12 months, Verizon Communications Inc has had a low of $30.14 and a high of $43.42. As of last week, the company has a debt-to-equity ratio of 1.80, a current ratio of 0.58, and a quick ratio of 0.55. According to the stock market information, the enterprise value for the company is $349674045440, which is based on a 14.93 price-to-earnings ratio, a 18.20 price-to-earnings-growth ratio, and a beta of 0.40. The fifty day moving average price for VZ is $40.608 and a two-hundred day moving average price translates $39.35695 for the stock.
The latest earnings results from Verizon Communications Inc (NYSE: VZ) was released for 2024-06-30. The net profit margin was 8.38% and return on equity was 11.76% for VZ. The company reported revenue of $32.8 billion for the quarter, compared to $32.6 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 0.61 percent.
