Vetr Upgrades Verizon Communications (VZ) to “Strong-Buy”

Verizon Communications (NYSE:VZ) was upgraded by Vetr from a “buy” rating to a “strong-buy” rating in a report released on Tuesday. The firm currently has a $54.80 price objective on the cell phone carrier’s stock. Vetr‘s target price would indicate a potential upside of 14.26% from the company’s current price.

A number of other research analysts also recently weighed in on VZ. ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research report on Monday, October 23rd. Wells Fargo & Co upgraded shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price objective on the stock in a research report on Monday, November 20th. Nomura upgraded shares of Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $47.00 to $61.00 in a research report on Tuesday, December 12th. Instinet increased their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Finally, HSBC downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from $54.83 to $42.80 in a research report on Thursday, December 14th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $53.48.

Verizon Communications (NYSE:VZ) opened at $47.96 on Tuesday. The firm has a market cap of $195,650.00, a P/E ratio of 14.71, a P/E/G ratio of 2.04 and a beta of 0.58. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.77. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same quarter last year, the company earned $0.86 EPS. equities analysts expect that Verizon Communications will post 4.54 EPS for the current year.

In other news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares in the company, valued at approximately $799,738.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the company. Regal Wealth Group Inc. grew its stake in 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 valued at $164,000 after acquiring an additional 24 shares in the last quarter. Glassman Wealth Services grew its stake in Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after acquiring an additional 31 shares in the last quarter. Camden National Bank grew its stake in Verizon Communications by 0.7% during the second quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock valued at $222,000 after acquiring an additional 37 shares in the last quarter. DF Dent & Co. Inc. grew its stake in Verizon Communications by 0.6% during the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock valued at $380,000 after acquiring an additional 50 shares in the last quarter. Finally, Aureus Asset Management LLC grew its stake in Verizon Communications by 0.6% during the second quarter. Aureus Asset Management LLC now owns 11,190 shares of the cell phone carrier’s stock valued at $500,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 64.21% 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.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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