Verizon Communications (NYSE:VZ)‘s stock had its “neutral” rating reaffirmed by analysts at Moffett Nathanson in a note issued to investors on Monday, Benzinga reports.
VZ has been the subject of several other reports. Oppenheimer restated a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, March 3rd. Bank of America restated a “buy” rating and set a $64.00 price objective on shares of Verizon Communications in a research report on Thursday, March 11th. Credit Suisse Group cut their price objective on shares of Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a research report on Tuesday, January 19th. Scotiabank downgraded shares of Verizon Communications from an “outperform” rating to a “sector perform” rating in a research report on Thursday, February 25th. Finally, Tigress Financial raised shares of Verizon Communications from a “neutral” rating to a “buy” rating in a report on Tuesday, March 30th. Seven analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and an average price target of $62.50.
Shares of NYSE:VZ opened at $58.60 on Monday. Verizon Communications has a 52-week low of $52.85 and a 52-week high of $61.95. The company has a market capitalization of $242.61 billion, a P/E ratio of 12.71, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. The company has a 50-day simple moving average of $57.56 and a 200 day simple moving average of $57.82. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, April 20th. The cell phone carrier reported $1.31 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.29 by $0.02. The business had revenue of $32.87 billion during the quarter, compared to the consensus estimate of $32.47 billion. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. Verizon Communications’s revenue was up 4.0% on a year-over-year basis. During the same period last year, the business posted $1.26 EPS. As a group, equities analysts forecast that Verizon Communications will post 4.77 earnings per share for the current year.
In related news, EVP Craig L. Silliman sold 1,555 shares of Verizon Communications stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $58.53, for a total value of $91,014.15. Following the transaction, the executive vice president now directly owns 36,242 shares of the company’s stock, valued at $2,121,244.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.07% of the company’s stock.
Institutional investors have recently modified their holdings of the business. Liberty One Investment Management LLC boosted its position in Verizon Communications by 2.7% in the first quarter. Liberty One Investment Management LLC now owns 185,979 shares of the cell phone carrier’s stock valued at $10,815,000 after buying an additional 4,917 shares in the last quarter. SevenBridge Financial Group LLC lifted its holdings in shares of Verizon Communications by 4.4% during the first quarter. SevenBridge Financial Group LLC now owns 70,552 shares of the cell phone carrier’s stock worth $4,103,000 after purchasing an additional 2,985 shares during the period. Nexus Investment Management ULC lifted its holdings in shares of Verizon Communications by 20.9% during the first quarter. Nexus Investment Management ULC now owns 34,700 shares of the cell phone carrier’s stock worth $2,018,000 after purchasing an additional 6,000 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Verizon Communications by 1.1% during the first quarter. Robeco Institutional Asset Management B.V. now owns 7,183,697 shares of the cell phone carrier’s stock worth $417,732,000 after purchasing an additional 78,472 shares during the period. Finally, Heron Financial Group LLC lifted its holdings in shares of Verizon Communications by 7.3% during the first quarter. Heron Financial Group LLC now owns 26,427 shares of the cell phone carrier’s stock worth $1,541,000 after purchasing an additional 1,808 shares during the period. Hedge funds and other institutional investors own 64.85% of the company’s stock.
About Verizon Communications
Verizon Communications Inc offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices, such as smart watches.
Featured Article: Why are analyst ratings important in trading stocks?
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.