Verizon Communications Research Coverage Started at Goldman Sachs (VZ)
A number of other firms have also recently commented on VZ. Analysts at Zacks reiterated a “neutral” rating on shares of Verizon Communications in a research note on Friday. They now have a $52.00 price target on the stock. Separately, analysts at Morgan Stanley reiterated an “overweight” rating on shares of Verizon Communications in a research note on Tuesday, August 26th. They now have a $54.00 price target on the stock. Finally, 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. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $53.24.
Shares of Verizon Communications (NYSE:VZ) traded down 0.11% on Tuesday, hitting $49.765. The stock had a trading volume of 3,227,425 shares. Verizon Communications has a 1-year low of $45.08 and a 1-year high of $53.66. The stock has a 50-day moving average of $49.87 and a 200-day moving average of $48.5. The company has a market cap of $206.3 billion and a price-to-earnings ratio of 10.75.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 22nd. The company reported $0.91 EPS for the quarter, beating the Thomson Reuters 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 in the prior year, the company posted $0.73 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Verizon Communications will post $3.55 EPS for the current fiscal year.
In other Verizon Communications news, EVP Randal S. Milch unloaded 2,966 shares of Verizon Communications stock on the open market in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $48.92, for a total value of $145,096.72. 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.
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