Verizon Communications (VZ) Lifted to “Buy” at Vetr

Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at Vetr from a “hold” rating to a “buy” rating in a report issued on Monday. The firm currently has a $54.80 price objective on the cell phone carrier’s stock. Vetr‘s price objective suggests a potential upside of 8.51% from the company’s current price.

VZ has been the subject of several other research reports. KeyCorp raised their target price on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research note on Tuesday, January 2nd. Macquarie reissued a “hold” rating and set a $54.00 target price on shares of Verizon Communications in a research note on Wednesday, January 24th. SunTrust Banks raised their target price on Verizon Communications to $58.00 and gave the stock a “hold” rating in a research note on Wednesday, January 24th. Bank of America raised their target price on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, January 24th. Finally, JPMorgan Chase & Co. raised their target price on Verizon Communications from $52.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and a consensus price target of $53.37.

Verizon Communications (NYSE VZ) traded down $2.48 during trading hours on Monday, hitting $50.50. The company had a trading volume of 22,026,709 shares, compared to its average volume of 16,070,000. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market capitalization of $206,010.00, a PE ratio of 6.86, a PEG ratio of 2.16 and a beta of 0.58.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same period in the prior year, the business posted $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% compared to the same quarter last year. sell-side analysts forecast that Verizon Communications will post 4.54 EPS for the current year.

In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications 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 directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.13% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of the company. Regal Wealth Group Inc. boosted its holdings 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 purchasing an additional 24 shares during the period. Glassman Wealth Services boosted its holdings in Verizon Communications by 0.4% in the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after purchasing an additional 31 shares during the period. Nottingham Advisors Inc. boosted its holdings in Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after purchasing an additional 35 shares during the period. Camden National Bank boosted its holdings in Verizon Communications by 0.7% in the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock valued at $222,000 after purchasing an additional 37 shares during the period. Finally, DF Dent & Co. Inc. boosted its holdings in Verizon Communications by 0.6% in the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock valued at $380,000 after purchasing an additional 50 shares during the period. 63.26% of the stock is owned by institutional investors and hedge funds.

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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.

To view Vetr’s full report, visit Vetr’s official website.

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