Baird's William Power says yields are "more likely to rise than not, which creates a headwind", and reiterates the firm's Neutral stance while cutting price target to $52, implying just 7.9% upside.
More notable recent Verizon Communications Inc.
Aside from the company's lower-than-expected revenue, VZ stock shareholders were also not pleased with its subscriber growth.
Verizon Communications Inc. (NYSE:VZ)'s stock had its "hold" rating restated by analysts at Jefferies Group in a research report issued to clients and shareholders on Sunday. (NYSE:VZ) showed continued strong profitability and customer loyalty at Verizon Wireless, and renewed customer growth for Fios fiber-optic services, reported on October 20, 2016.
07/06/2016 - Verizon Communications Inc. had its "neutral" rating reiterated by analysts at Macquarie. Morgan Stanley cut shares of Verizon Communications from an "overweight" rating to an "equal weight" rating in a report on Tuesday, July 26th. Both the RSI indicator and target price of 67.56 and $67.18 respectively, lead us to believe that it should be put on hold over the coming weeks. The stock presently has an average rating of "Hold" and a consensus price target of $54.63. Legal & General Group Plc increased its stake in shares of Nuance Communications by 0.9% in the first quarter.
Verizon Communications Inc. has a 50 day moving average of 51.49 and a 200 day moving average of 52.52. The 52-week range of the stock is $43.79-$56.95. The stock has a market capitalization of $196.48 billion, a P/E ratio of 13.62 and a beta of 0.30. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of US and global copyright law. On 2016-10-20 for the quarter that ended on 2016-09-30, the Verizon Communications Inc. reported earnings per share of $1.01.
Despite the net loss of wireless phone subscribers, the company still gained 442,000 wireless postpaid subscribers during the quarter, thanks to rapid growth from its Hum-branded telematics auto service and tablet users. Navellier & Assoc has 24,734 shares for 0.21% of their U.S. portfolio.
Revenue for the third quarter came in at $30.94 billion, down 6.7 percent from $33.16 billion in the year-earlier quarter. On average, analysts expect First Bancorp to post $1.23 EPS for the current fiscal year... The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.10%.
In related news, EVP Craig L. Silliman sold 672 shares of the business's stock in a transaction dated Wednesday, July 27th. They now have a United States dollars 54 price target on the stock. They now own 2.54 billion shares or 1.12% less from 2.57 billion shares in 2016Q1. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. AMP Capital Investors Ltd now owns 250,812 shares of the company's stock valued at $4,625,000 after buying an additional 38,374 shares during the period.
Several hedge funds have recently modified their holdings of VZ. Verizon Communications makes up approx 1.41% of Capital City Trust Cofl's portfolio. Dividends and share buy-backs don't change the value of a company's shares. Taylor Wealth Management Partners increased its position in shares of Verizon Communications by 15.2% in the second quarter. Verizon's feature phone customers are a relatively small percentage of its base; however, Verizon should be fairly aggressive in targeting these customers to move into a new postpaid device or into its prepaid business, in our view. State Farm Mutual Automobile Insurance Co. now owns 11,321,427 shares of the cell phone carrier's stock valued at $612,263,000 after buying an additional 115,883 shares during the period. Renaissance Technologies LLC increased its stake in shares of Nuance Communications by 2.1% in the first quarter.
Todd Asset Management LLC reduced its stake in Nuance Communications Inc. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Wireline's voice data and video communications products and services include broadband video and data corporate networking solutions data center and cloud services security and managed network services and local and long distance voice services. Verizon Communications Inc. (NYSE:VZ) marked 52-week highest price level of $55.75 on 07/05/16 and 52-week lowest price level of $42.27 on 01/20/16.