Verizon Communications Now Covered by Analysts at Barclays (VZ)
Equities research analysts at Barclays began coverage on shares of Verizon Communications (NYSE:VZ) in a research note issued to investors on Monday, Analyst Ratings Network.com reports. The firm set an “overweight” rating and a $55.00 price target on the stock. Barclays’ price objective points to a potential upside of 16.35% from the stock’s previous close. The analysts noted that the move was a valuation call.
A number of other firms have also recently commented on VZ. Analysts at Bank of America upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating in a research note on Monday. They now have a $55.00 price target on the stock. Separately, analysts at TheStreet reiterated a “buy” rating on shares of Verizon Communications in a research note on Tuesday, February 18th. Finally, analysts at Drexel Hamilton initiated coverage on shares of Verizon Communications in a research note on Tuesday, February 11th. They set a “hold” rating on the stock. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $55.13.
Shares of Verizon Communications (NYSE:VZ) traded down 2.20% on Monday, hitting $46.23. 501,261,600 shares of the company’s stock traded hands. Verizon Communications has a one year low of $45.08 and a one year high of $54.31. The stock has a 50-day moving average of $47.49 and a 200-day moving average of $48.34. The company has a market cap of $132.3 billion and a price-to-earnings ratio of 11.82.
Verizon Communications (NYSE:VZ) last released its 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 last year, the company posted $0.38 earnings per share. Verizon Communications’s revenue was up 3.4% compared to the same quarter last year. Analysts expect that Verizon Communications will post $3.50 EPS for the current fiscal year.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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