Traders Buy Large Volume of Put Options on Verizon Communications (VZ)
Verizon Communications (NYSE:VZ) saw some unusual options trading activity on Thursday. Stock investors purchased 22,524 put options on the company, American Banking & Market News reports. This is an increase of 133% compared to the typical volume of 9,675 put options.
Several analysts have recently commented on the stock. Analysts at Deutsche Bank upgraded shares of Verizon Communications to a “buy” rating in a research note to investors on Friday. Finally, analysts at BMO Capital Markets cut their EPS estimates on shares of Verizon Communications in a research note on Tuesday. They now have an “outperform” rating and a $55.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.98.
Verizon Communications (NYSE:VZ) opened at 48.90 on Friday. Verizon Communications has a 52 week low of $40.51 and a 52 week high of $54.31. The stock has a 50-day moving average of $47.17 and a 200-day moving average of $49.6. The company has a market cap of $139.9 billion and a P/E ratio of 89.56.
Verizon Communications (NYSE:VZ) last released its earnings data on Thursday, October 17th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.02. The company had revenue of $30.28 billion for the quarter, compared to the consensus estimate of $30.17 billion. During the same quarter last year, the company posted $0.64 earnings per share. Verizon Communications’s revenue was up 4.4% compared to the same quarter last year. Analysts expect that Verizon Communications will post $2.75 EPS for the current fiscal year.
Verizon Communications Inc (NYSE:VZ) is a holding company.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.