Verizon Communications (NYSE:VZ) had its price objective boosted by equities research analysts at Bank of America from $55.00 to $58.00 in a report issued on Wednesday. The brokerage currently has a “buy” rating on the cell phone carrier’s stock. Bank of America’s price target indicates a potential upside of 5.99% from the stock’s previous close.
A number of other analysts have also issued reports on VZ. Macquarie reissued a “hold” rating and issued a $54.00 target price on shares of Verizon Communications in a research report on Wednesday. SunTrust Banks boosted their target price on Verizon Communications to $58.00 and gave the company a “hold” rating in a research report on Wednesday. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Finally, Scotia Howard Weill raised Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, January 22nd. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $53.13.
Shares of Verizon Communications (NYSE VZ) traded up $0.43 during midday trading on Wednesday, reaching $54.72. The company’s stock had a trading volume of 13,080,000 shares, compared to its average volume of 16,440,000. The stock has a market capitalization of $223,230.00, a price-to-earnings ratio of 7.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.57. The company has a current ratio of 0.91, a quick ratio of 1.02 and a debt-to-equity ratio of 2.54. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 55.32% and a return on equity of 214.12%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.86 EPS. analysts predict that Verizon Communications will post 4.53 EPS for the current fiscal year.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
A number of large investors have recently bought and sold shares of VZ. Legacy Advisors LLC acquired a new position in Verizon Communications in the third quarter valued at $132,000. Shine Investment Advisory Services Inc. boosted its stake 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 valued at $134,000 after acquiring an additional 1,775 shares in the last quarter. Private Vista LLC boosted its stake 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 valued at $143,000 after acquiring an additional 378,225 shares in the last quarter. Mountain Capital Investment Advisors Inc acquired a new position in Verizon Communications in the second quarter valued at $156,000. Finally, Regal Wealth Group Inc. boosted its stake in Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares in the last quarter. 63.14% of the stock is currently owned by hedge funds and other institutional investors.
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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.