Verizon Communications (VZ) Lifted to Buy at Scotiabank

Verizon Communications (NYSE:VZ) was upgraded by Scotiabank from a “sector perform” rating to a “buy” rating in a note issued to investors on Monday.

A number of other analysts also recently commented on the stock. KeyCorp increased their price objective on shares of Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a report on Tuesday, January 2nd. HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and dropped their target price for the company from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Scotia Howard Weill upgraded shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday. Howard Weil raised shares of Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday. Finally, Moffett Nathanson cut shares of Verizon Communications from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 16th. Two investment analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $51.55.

Verizon Communications (NYSE VZ) traded up $0.36 during trading hours on Monday, reaching $51.91. 23,757,701 shares of the company’s stock traded hands, compared to its average volume of 16,490,424. Verizon Communications has a one year low of $42.80 and a one year high of $53.69. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. The stock has a market capitalization of $217,800.00, a price-to-earnings ratio of 13.31, a price-to-earnings-growth ratio of 3.49 and a beta of 0.57.

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

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications 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 sale, the executive vice president now directly owns 3,269 shares in the company, valued at approximately $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.13% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VZ. Legacy Advisors LLC acquired a new position in shares of Verizon Communications during the third quarter worth about $132,000. Shine Investment Advisory Services Inc. increased its stake in shares of Verizon Communications by 190.9% during the third quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock worth $134,000 after acquiring an additional 1,775 shares during the period. Private Vista LLC increased its stake in shares of Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after acquiring an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications during the second quarter worth about $156,000. Finally, Regal Wealth Group Inc. increased its stake in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the period. Institutional investors own 63.14% 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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