Moffett Nathanson Downgrades Verizon Communications (VZ) to Neutral
Verizon Communications (NYSE:VZ) was downgraded by equities researchers at Moffett Nathanson from a “buy” rating to a “neutral” rating in a note issued to investors on Tuesday.
Other equities research analysts have also issued reports about the stock. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 target price on the stock in a research report on Monday, November 20th. Instinet upped their target price on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their price objective for the company from $47.00 to $61.00 in a research note on Tuesday, December 12th. SunTrust Banks reaffirmed a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a research note on Friday, October 20th. Finally, Macquarie reissued a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Sunday, October 22nd. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $51.98.
Shares of Verizon Communications (NYSE VZ) traded down $0.25 during trading on Tuesday, reaching $51.86. 17,673,400 shares of the company were exchanged, compared to its average volume of 14,982,733. The stock has a market capitalization of $211,850.00, a P/E ratio of 13.30, a P/E/G ratio of 4.68 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications has a one year low of $42.80 and a one year high of $53.69.
Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the company posted $1.01 EPS. analysts predict that Verizon Communications will post 3.77 EPS for the current year.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was 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 directly 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 can be accessed through this link. 0.13% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in VZ. Guidant Wealth Advisors acquired a new position in Verizon Communications during the 3rd quarter worth about $107,000. Sunbelt Securities Inc. bought a new stake in Verizon Communications in the 4th quarter valued at about $115,000. Solaris Asset Management LLC bought a new stake in Verizon Communications in the 3rd quarter valued at about $125,000. Lowe fs LLC increased its position in Verizon Communications by 3.0% in the 3rd quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 70 shares in the last quarter. Finally, Taylor Wealth Management Partners increased its position in Verizon Communications by 15.2% in the 2nd quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock valued at $127,000 after buying an additional 300 shares in the last quarter. Institutional investors own 63.22% 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.
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