Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at Barclays from an “equal weight” rating to an “overweight” rating in a research report issued to clients and investors on Monday, The Fly reports.
Several other research firms have also issued reports on VZ. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, January 22nd. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Tuesday, February 13th. Scotia Howard Weill upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday, January 22nd. Vetr lowered Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective on the stock. in a research note on Tuesday, April 3rd. Finally, Moffett Nathanson lowered Verizon Communications from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and thirteen have issued a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $54.24.
VZ opened at $47.90 on Monday. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.77. The stock has a market cap of $197,729.47, a P/E ratio of 12.81, a P/E/G ratio of 1.94 and a beta of 0.64. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91.
Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The company had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. During the same quarter in the previous year, the company posted $0.86 EPS. The business’s revenue was up 2.2% on a year-over-year basis. equities research analysts predict that Verizon Communications will post 4.54 EPS for the current year.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the transaction, the senior vice president now owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.09% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VZ. Delphi Private Advisors LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $141,000. Capital Investment Advisory Services LLC grew its position in Verizon Communications by 12.1% during the fourth quarter. Capital Investment Advisory Services LLC now owns 23,549 shares of the cell phone carrier’s stock worth $1,246,000 after buying an additional 2,550 shares in the last quarter. Resources Investment Advisors Inc. grew its position in Verizon Communications by 56.0% during the fourth quarter. Resources Investment Advisors Inc. now owns 22,490 shares of the cell phone carrier’s stock worth $1,191,000 after buying an additional 8,072 shares in the last quarter. E&G Advisors LP grew its position in Verizon Communications by 18.2% during the third quarter. E&G Advisors LP now owns 24,735 shares of the cell phone carrier’s stock worth $1,224,000 after buying an additional 3,803 shares in the last quarter. Finally, Bristol Advisors LLC acquired a new stake in Verizon Communications during the fourth quarter worth approximately $3,964,000. Institutional investors own 64.04% of the company’s stock.
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Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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