Verizon Communications Given “Buy” Rating at TheStreet (VZ)
Verizon Communications (NYSE:VZ)‘s stock had its “buy” rating restated by research analysts at TheStreet in a report released on Tuesday, AnalystRatingsNetwork.com reports.
The analysts wrote, “Verizon Communications (VZ) has been reiterated by TheStreet Ratings as a buy with a ratings score of B. The company’s strengths can be seen in multiple areas, such as its revenue growth, notable return on equity, expanding profit margins, good cash flow from operations and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated.”
A number of other firms have also recently commented on VZ. Analysts at Pacific Crest downgraded shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research note to investors on Wednesday, January 22nd. They now have a $16.50 price target on the stock, down previously from $17.00. Separately, analysts at Jefferies Group initiated coverage on shares of Verizon Communications in a research note to investors on Thursday, December 19th. They set a “buy” rating and a $55.00 price target on the stock. Finally, analysts at Macquarie upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating in a research note to investors on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $54.71.
Shares of Verizon Communications (NYSE:VZ) opened at 47.56 on Tuesday. Verizon Communications has a 1-year low of $42.72 and a 1-year high of $54.31. The stock’s 50-day moving average is $48.34 and its 200-day moving average is $48.77. The company has a market cap of $136.1 billion and a price-to-earnings ratio of 62.10.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 21st. The company reported $0.66 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.65 by $0.01. The company had revenue of $31.07 billion for the quarter, compared to the consensus estimate of $31.02 billion. During the same quarter in the previous year, the company posted $0.38 earnings per share. The company’s revenue for the quarter was up 3.4% on a year-over-year basis. Analysts expect that Verizon Communications will post $2.83 EPS for the current fiscal year.
In other Verizon Communications news, EVP Randal Milch unloaded 2,823 shares of Verizon Communications stock on the open market in a transaction that occurred on Wednesday, January 22nd. The stock was sold at an average price of $47.47, for a total transaction of $134,007.81. Following the transaction, the executive vice president now directly owns 11,850 shares in the company, valued at approximately $562,520. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
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.