Verizon Results Miss Wall Street Estimates as It Loses Subscribers
Apr 21 2017 by Johnny Bowman
Verizon Communications Inc. (VZ) closed -1.65% below its 200-day moving average and is 0.97% above another chart threshold, its 50-day moving average. (NYSE:VZ) has declined 6.37% since September 12, 2016 and is downtrending. Community Bank N.A. now owns 138,955 shares of the cell phone carrier's stock worth $7,221,000 after buying an additional 4,166 shares in the last quarter. In terms of recent volatility, the average for the month is 1.08% and 1.14% for the past week. The company had a trading volume of 6,439,887 shares.
Verizon Communications Inc.'s (VZ) witnessed a gain of 0.39% in recent trading period with closing price of $ 48.81. Clean Yield Group Inc invested in 57,272 shares.
When investing geniuses David and Tom Gardner have a stock tip, it can pay to listen. As per Wednesday, January 25, the company rating was downgraded by RBC Capital Markets.
ATR value of company was 0.53. (NYSE:VZ) has "Buy" rating given on Tuesday, January 3 by Citigroup.
The stock's price switched up -0.02% 20-Days Simple Moving Average, added 0.17% from 50-Days Simple Moving Average and fell -2.51% from 200 Days Simple Moving Average. The stock has a market capitalization of $198.21 billion, a PE ratio of 15.15 and a beta of 0.43. Verizon Communications Inc. has a 12-month low of $46.01 and a 12-month high of $56.95.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 24th. The carrier reported a 57% year-over-year growth in LTE traffic. Verizon Communications had a net margin of 10.42% and a return on equity of 72.75%.
Total operating revenue fell to $29.81 billion from $32.17 billion a year earlier.
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Notably, Verizon reported a net loss of 307,000 retail postpaid connections - those that pay for service on a monthly contract - including 289,000 phone losses. Analysts predict that Verizon Communications will post $3.81 earnings per share for the current fiscal year. Stockholders of record on Monday, April 10th will be paid a dividend of $0.5775 per share. The ex-dividend date is Thursday, April 6th. Verizon Communications's dividend payout ratio (DPR) is now 71.74%.
TRADEMARK VIOLATION NOTICE: This news story was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. The legal version of this report can be accessed at [[permalink]]. Finally, Moffett Nathanson raised Verizon Communications from a "neutral" rating to a "buy" rating and increased their price objective for the stock from $53.00 to $54.00 in a research note on Tuesday, February 21st. Baldwin Inv Mgmt Ltd Company holds 0.25% or 11,668 shares. (NYSE:VZ) had their rating indicated by analysts at Barclays Capital. Vetr cut Verizon Communications from a buy rating to a hold rating and set a $52.38 price target for the company.in a report on Monday, January 2nd. SILLIMAN CRAIG L. had sold 610 shares worth $30,799 on Monday, February 27. Hedeker Wealth Limited Liability Company stated it has 45,345 shares or 1.99% of all its holdings. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The stock was sold at an average price of $48.27, for a total value of $603,133.65.
The stock now has its Annual Dividend of $2.31 and an annual Dividend Yield of 4.69 Percent. The disclosure for this sale can be found here. Metropolitan Life Insur Company New York holds 2.13 million shares.
Relative strength index (RSI-14) for Verizon Communications Inc.
Verizon Communications Inc., through its subsidiaries, provides communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The Company's divisions include Wireless and Wireline. This segment also provides data security, voice and data, cloud and IT, business communications, IoT, and mobility services; and data, voice, local dial tone, and broadband services primarily to local, long distance, wireless, and other carriers.
A number of other hedge funds and other institutional investors have also recently modified their holdings of VZ.