Verizon Communications (VZ) Upgraded at ValuEngine

ValuEngine upgraded shares of Verizon Communications (NYSE:VZ) from a hold rating to a buy rating in a research note released on Friday.

A number of other brokerages have also recently weighed in on VZ. Macquarie reaffirmed a hold rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday, October 22nd. SunTrust Banks reissued a hold rating and set a $50.00 target price on shares of Verizon Communications in a research report on Friday, October 20th. Moffett Nathanson reissued a buy rating on shares of Verizon Communications in a research report on Thursday, October 12th. Wells Fargo & Company raised shares of Verizon Communications from a market perform rating to an outperform rating and set a $50.00 target price on the stock in a research report on Monday, November 20th. Finally, Cowen reissued a hold rating and set a $52.00 target price on shares of Verizon Communications in a research report on Tuesday, September 19th. Two analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus target price of $51.25.

Verizon Communications (NYSE:VZ) opened at $51.25 on Friday. The firm has a market cap of $209,071.34, a P/E ratio of 13.67, a price-to-earnings-growth ratio of 4.81 and a beta of 0.57. The company has a debt-to-equity ratio of 4.05, a quick ratio of 1.02 and a current ratio of 1.07. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.83.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. Verizon Communications’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company posted $1.01 earnings per share. equities research analysts predict that Verizon Communications will post 3.77 EPS for the current year.

In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total value of $29,658.20. Following the completion of the sale, the executive vice president now owns 5,989 shares in the company, valued at $291,185.18. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In the last 90 days, insiders sold 1,830 shares of company stock valued at $88,609. Insiders own 0.13% of the company’s stock.

Several large investors have recently modified their holdings of VZ. Oakmont Partners LLC grew its position in shares of Verizon Communications by 0.3% during the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock worth $285,000 after acquiring an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. grew its position in shares of Verizon Communications by 0.5% during the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock worth $224,000 after acquiring an additional 23 shares during the last quarter. Regal Wealth Group Inc. grew its position in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the last quarter. Glassman Wealth Services grew its position in shares of Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after acquiring an additional 31 shares during the last quarter. Finally, Nottingham Advisors Inc. grew its position in shares of Verizon Communications by 0.5% during the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after acquiring an additional 35 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

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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 ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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