Verizon Communications (NYSE:VZ) was downgraded by equities research analysts at Moffett Nathanson from a “buy” rating to a “neutral” rating in a research note issued on Tuesday.
A number of other research firms have also weighed in on VZ. Macquarie reaffirmed a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Sunday, October 22nd. SunTrust Banks reissued a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research report on Friday, October 20th. Wells Fargo & Co raised shares of Verizon Communications from a “market perform” rating to an “outperform” rating and set a $50.00 price target for the company in a research report on Monday, November 20th. Instinet increased their price target 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, Cowen reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, nineteen have assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus target price of $51.98.
Verizon Communications (VZ) traded down $0.25 during midday trading on Tuesday, hitting $51.86. 17,673,400 shares of the stock were exchanged, compared to its average volume of 14,982,733. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $211,850.00, a PE ratio of 13.30, a PEG ratio of 4.68 and a beta of 0.57. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $53.69.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. During the same period in the prior year, the firm earned $1.01 earnings per share. The firm’s revenue for the quarter was up 2.5% compared to the same quarter last year. research analysts forecast that Verizon Communications will post 3.77 earnings per share for the current year.
In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 5,989 shares in the company, valued at approximately $291,185.18. The sale was disclosed in a filing with the SEC, which is available through this link. 0.13% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the company. Atria Investments LLC grew its stake in Verizon Communications by 7.3% in the 4th quarter. Atria Investments LLC now owns 128,612 shares of the cell phone carrier’s stock valued at $6,807,000 after acquiring an additional 8,782 shares during the period. Nadler Financial Group Inc. grew its stake in Verizon Communications by 54.5% in the 4th quarter. Nadler Financial Group Inc. now owns 15,207 shares of the cell phone carrier’s stock valued at $805,000 after acquiring an additional 5,367 shares during the period. Bremer Trust National Association grew its stake in Verizon Communications by 4.5% in the 4th quarter. Bremer Trust National Association now owns 38,716 shares of the cell phone carrier’s stock valued at $2,050,000 after acquiring an additional 1,671 shares during the period. Benson Investment Management Company Inc. grew its stake in Verizon Communications by 33.9% in the 4th quarter. Benson Investment Management Company Inc. now owns 64,035 shares of the cell phone carrier’s stock valued at $3,389,000 after acquiring an additional 16,210 shares during the period. Finally, Bristol Advisors LLC acquired a new stake in Verizon Communications in the 4th quarter valued at $3,964,000. 63.22% of the stock is currently 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.
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