Verizon Communications (NYSE:VZ)‘s stock had its “neutral” rating restated by research analysts at Moffett Nathanson in a note issued to investors on Tuesday, Marketbeat Ratings reports. They currently have a $56.00 price target on the cell phone carrier’s stock. Moffett Nathanson’s price objective points to a potential upside of 4.05% from the stock’s previous close.
VZ has been the subject of several other research reports. Zacks Investment Research lowered Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, July 30th. Deutsche Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $49.00 price objective for the company in a report on Tuesday, June 19th. Barclays lowered Verizon Communications from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $56.00 to $50.00 in a report on Tuesday. Robert W. Baird lifted their price objective on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a report on Wednesday, July 25th. Finally, Jefferies Financial Group started coverage on Verizon Communications in a report on Thursday, June 7th. They issued a “hold” rating and a $52.00 price objective for the company. Seven research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. Verizon Communications presently has an average rating of “Buy” and an average price target of $55.17.
Verizon Communications stock opened at $53.82 on Tuesday. The firm has a market capitalization of $224.44 billion, a price-to-earnings ratio of 14.36, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69. Verizon Communications has a 12 month low of $43.97 and a 12 month high of $55.21. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.96 and a quick ratio of 0.92.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, July 24th. The cell phone carrier reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.06. The business had revenue of $32.20 billion during the quarter, compared to analyst estimates of $31.78 billion. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. equities research analysts forecast that Verizon Communications will post 4.66 earnings per share for the current year.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Mackenzie Financial Corp lifted its position in Verizon Communications by 2,886.8% during the fourth quarter. Mackenzie Financial Corp now owns 11,717,907 shares of the cell phone carrier’s stock valued at $620,229,000 after purchasing an additional 11,325,589 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Verizon Communications during the second quarter valued at $353,508,000. Bank of New York Mellon Corp lifted its position in Verizon Communications by 14.1% during the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after purchasing an additional 6,007,544 shares in the last quarter. Boston Partners lifted its position in Verizon Communications by 133.5% during the second quarter. Boston Partners now owns 10,503,382 shares of the cell phone carrier’s stock valued at $528,426,000 after purchasing an additional 6,005,801 shares in the last quarter. Finally, FMR LLC lifted its position in Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after purchasing an additional 5,481,532 shares in the last quarter. Institutional investors own 64.22% of the company’s stock.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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