Verizon Communications (NYSE:VZ) was upgraded by Howard Weil from a “sector perform” rating to a “sector outperform” rating in a report issued on Monday.
Other equities research analysts have also issued reports about the company. Moffett Nathanson reaffirmed a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Scotia Howard Weill raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research note on Monday. Robert W. Baird reaffirmed a “hold” rating and issued a $49.00 price objective on shares of Verizon Communications in a research note on Wednesday, October 4th. Instinet raised their price objective on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Finally, Wells Fargo & Co raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective for the company in a research note on Monday, November 20th. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $51.55.
Verizon Communications (NYSE VZ) opened at $52.49 on Monday. The firm has a market capitalization of $214,130.00, a P/E ratio of 13.46, a price-to-earnings-growth ratio of 3.49 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 has a 1-year low of $42.80 and a 1-year high of $53.69.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.01 EPS. equities research analysts expect that Verizon Communications will post 3.77 earnings per share for the current fiscal year.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on 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 sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Verizon Communications by 2.1% in the 2nd quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after acquiring an additional 5,837,702 shares during the period. Capital Research Global Investors increased its holdings in shares of Verizon Communications by 15.1% in the 2nd quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after acquiring an additional 20,070,391 shares during the period. FMR LLC increased its holdings in shares of Verizon Communications by 15.0% in the 2nd quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after acquiring an additional 8,077,275 shares during the period. Legal & General Group Plc increased its holdings in shares of Verizon Communications by 2.7% in the 3rd quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock valued at $1,212,227,000 after acquiring an additional 636,014 shares during the period. Finally, Franklin Resources Inc. increased its holdings in shares of Verizon Communications by 19.9% in the 2nd quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after acquiring an additional 3,623,182 shares during the period. Institutional investors own 63.14% of the company’s stock.
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Verizon Communications Company Profile
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.