Verizon Communications (NYSE:VZ) had its target price upped by analysts at JPMorgan Chase & Co. from $52.00 to $58.00 in a note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the cell phone carrier’s stock. JPMorgan Chase & Co.’s price target indicates a potential upside of 5.99% from the company’s previous close.
A number of other equities analysts have also commented on VZ. Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a research report on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. SunTrust Banks restated a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a research report on Friday, October 20th. Finally, Bank of America set a $52.00 price objective on Verizon Communications and gave the company a “buy” rating in a research report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $53.13.
Shares of Verizon Communications (VZ) traded up $0.43 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 company has a debt-to-equity ratio of 2.54, a quick ratio of 1.02 and a current ratio of 0.91. The stock has a market capitalization of $223,230.00, a PE ratio of 7.43, a price-to-earnings-growth ratio of 2.21 and a beta of 0.57. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The business had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a return on equity of 214.12% and a net margin of 55.32%. The business’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS. equities research analysts forecast that Verizon Communications will post 4.53 EPS 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 stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Highland Private Wealth Management raised its stake in shares of Verizon Communications by 13.3% during the 4th quarter. Highland Private Wealth Management now owns 9,611 shares of the cell phone carrier’s stock valued at $509,000 after buying an additional 1,131 shares during the last quarter. Schaper Benz & Wise Investment Counsel Inc. WI raised its stake in shares of Verizon Communications by 35.2% during the 4th quarter. Schaper Benz & Wise Investment Counsel Inc. WI now owns 5,880 shares of the cell phone carrier’s stock valued at $311,000 after buying an additional 1,530 shares during the last quarter. Arthur M. Cohen & Associates LLC purchased a new position in shares of Verizon Communications during the 4th quarter valued at about $2,650,000. Advisor Partners LLC raised its stake in shares of Verizon Communications by 12.4% during the 4th quarter. Advisor Partners LLC now owns 71,204 shares of the cell phone carrier’s stock valued at $3,696,000 after buying an additional 7,841 shares during the last quarter. Finally, Nelson Roberts Investment Advisors LLC raised its stake in shares of Verizon Communications by 0.8% during the 4th quarter. Nelson Roberts Investment Advisors LLC now owns 176,514 shares of the cell phone carrier’s stock valued at $9,343,000 after buying an additional 1,351 shares during the last quarter. 63.14% of the stock is owned by 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.