Verizon Communications (VZ) Upgraded at Vetr

Verizon Communications (NYSE:VZ) was upgraded by stock analysts at Vetr from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday. The brokerage currently has a $54.80 price target on the cell phone carrier’s stock. Vetr‘s price objective suggests a potential upside of 14.26% from the stock’s current price.

A number of other equities analysts have also recently commented on the stock. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research note on Monday, November 20th. Instinet lifted their price target on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target for the company in a research note on Monday, January 22nd. Finally, Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 16th. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $53.48.

Verizon Communications (NYSE:VZ) opened at $47.96 on Tuesday. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77. The company has a market cap of $195,650.00, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 2.04 and a beta of 0.58. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the previous year, the business earned $0.86 earnings per share. The business’s quarterly revenue was up 2.2% on a year-over-year basis. sell-side analysts anticipate that Verizon Communications will post 4.54 earnings per share for the current fiscal year.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares in the company, valued at approximately $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The disclosure for this sale can be found here. Company insiders own 0.13% of the company’s stock.

Several large investors have recently bought and sold shares of VZ. Vantage Financial Partners Ltd. Inc. purchased a new position in shares of Verizon Communications in the 2nd quarter worth approximately $623,000. Earnest Partners LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $103,000. Exane Derivatives purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $103,000. Stelac Advisory Services LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $111,000. Finally, IFG Advisory LLC purchased a new position in shares of Verizon Communications in the 4th quarter worth approximately $2,055,000. Institutional investors and hedge funds own 64.21% of the company’s stock.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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