Verizon Communications Given Consensus Rating of “Buy” by Brokerages (NYSE:VZ)
Verizon Communications (NYSE:VZ) has earned a consensus recommendation of “Buy” from the thirty-one ratings firms that are presently covering the stock, AnalystRatingsNetwork.com reports. Six analysts have rated the stock with a hold recommendation and twenty-two have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $53.23.
Several analysts have recently commented on the stock. Analysts at Macquarie downgraded shares of Verizon Communications from an “outperform” rating to a “neutral” rating in a research note on Wednesday, July 30th. They now have a $53.00 price target on the stock, up previously from $52.00. They noted that the move was a valuation call. Separately, analysts at FBR Capital Markets upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating in a research note on Thursday, July 24th. They now have a $57.00 price target on the stock, up previously from $55.00. Finally, analysts at Raymond James reiterated an “outperform” rating on shares of Verizon Communications in a research note on Wednesday, July 23rd. They now have a $55.00 price target on the stock, up previously from $54.00.
Shares of Verizon Communications (NYSE:VZ) opened at 48.70 on Wednesday. Verizon Communications has a 52 week low of $45.08 and a 52 week high of $53.66. The stock has a 50-day moving average of $50.02 and a 200-day moving average of $48.31. The company has a market cap of $201.9 billion and a price-to-earnings ratio of 10.49.
Verizon Communications (NYSE:VZ) last issued its earnings data on Tuesday, July 22nd. The company reported $0.91 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.90 by $0.01. The company had revenue of $31.50 billion for the quarter, compared to the consensus estimate of $31.10 billion. During the same quarter last year, the company posted $0.73 earnings per share. Verizon Communications’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Verizon Communications will post $3.55 earnings per share for the current fiscal year.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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