Verizon Communications (NYSE:VZ) was downgraded by research analysts at HSBC from a “buy” rating to a “hold” rating in a note issued to investors on Thursday, Marketbeat reports. They presently have a $42.80 price target on the cell phone carrier’s stock, down from their previous price target of $54.83. HSBC’s target price indicates a potential downside of 18.23% from the company’s previous close. The analysts noted that the move was a valuation call.

A number of other brokerages have also issued reports on VZ. Instinet increased their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research report on Tuesday. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $61.00 in a research report on Tuesday. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Robert W. Baird restated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, October 4th. Finally, Macquarie restated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Sunday, October 22nd. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average price target of $51.99.

Shares of Verizon Communications (NYSE:VZ) traded down $0.55 on Thursday, reaching $52.34. 18,772,903 shares of the company were exchanged, compared to its average volume of 15,666,652. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.83. The firm has a market cap of $217,060.94, a price-to-earnings ratio of 14.19, a P/E/G ratio of 5.00 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the prior year, the business earned $1.01 EPS. Verizon Communications’s quarterly revenue was up 2.5% on a year-over-year basis. analysts anticipate that Verizon Communications will post 3.77 earnings per share for the current year.

In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,830 shares of company stock valued at $88,609 in the last ninety days. Insiders own 0.13% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of VZ. Legacy Advisors LLC acquired a new stake in Verizon Communications in the third quarter worth $132,000. Shine Investment Advisory Services Inc. grew its holdings in Verizon Communications by 190.9% in the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after purchasing an additional 1,775 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications in the first quarter worth $136,000. Proficio Capital Partners LLC grew its holdings in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after purchasing an additional 1,841 shares during the period. Finally, Private Vista LLC grew its holdings in Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after purchasing an additional 378,225 shares during the period. Institutional investors own 63.37% of the company’s stock.

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About Verizon Communications

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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