Vetr Upgrades Verizon Communications (VZ) to Strong-Buy

Vetr upgraded shares of Verizon Communications (NYSE:VZ) from a buy rating to a strong-buy rating in a research note issued to investors on Tuesday morning. They currently have $54.80 price objective on the cell phone carrier’s stock.

Other equities analysts have also issued reports about the company. SunTrust Banks boosted their price target on Verizon Communications to $58.00 and gave the stock a hold rating in a research report on Wednesday, January 24th. Bank of America boosted their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price target on Verizon Communications from $52.00 to $58.00 and gave the stock a neutral rating in a research report on Wednesday, January 24th. Nomura boosted their price target on Verizon Communications from $61.00 to $63.00 and gave the stock a buy rating in a research report on Wednesday, January 24th. Finally, Howard Weil raised Verizon Communications from a sector perform rating to a sector outperform rating in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. Verizon Communications has an average rating of Hold and a consensus price target of $53.51.

Shares of Verizon Communications (VZ) opened at $48.92 on Tuesday. 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 has a fifty-two week low of $42.80 and a fifty-two week high of $54.77. The stock has a market capitalization of $199,570.00, a PE ratio of 15.01, a PEG ratio of 2.04 and a beta of 0.58.

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

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.82%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s payout ratio is 72.39%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total value of $346,956.60. Following the completion of the transaction, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The disclosure for this sale can be found here. Corporate insiders own 0.13% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of VZ. Dumont & Blake Investment Advisors LLC increased its holdings in shares of Verizon Communications by 1.7% in the 2nd quarter. Dumont & Blake Investment Advisors LLC now owns 15,800 shares of the cell phone carrier’s stock valued at $706,000 after acquiring an additional 265 shares during the last quarter. Hartford Financial Management Inc. increased its holdings in shares of Verizon Communications by 7.1% in the 2nd quarter. Hartford Financial Management Inc. now owns 20,401 shares of the cell phone carrier’s stock valued at $911,000 after acquiring an additional 1,350 shares during the last quarter. Enterprise Financial Services Corp increased its holdings in shares of Verizon Communications by 1.7% in the 2nd quarter. Enterprise Financial Services Corp now owns 28,774 shares of the cell phone carrier’s stock valued at $1,285,000 after acquiring an additional 469 shares during the last quarter. First Manhattan Co. increased its holdings in shares of Verizon Communications by 4.4% in the 2nd quarter. First Manhattan Co. now owns 648,876 shares of the cell phone carrier’s stock valued at $28,978,000 after acquiring an additional 27,078 shares during the last quarter. Finally, Washington Capital Management Inc. increased its holdings in shares of Verizon Communications by 1.9% in the 2nd quarter. Washington Capital Management Inc. now owns 34,496 shares of the cell phone carrier’s stock valued at $1,541,000 after acquiring an additional 650 shares during the last quarter. Institutional investors and hedge funds own 64.21% of the company’s stock.

TRADEMARK VIOLATION WARNING: This piece of content was originally posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this piece of content on another website, it was copied illegally and republished in violation of international copyright and trademark legislation. The original version of this piece of content can be accessed at https://stocknewstimes.com/2018/02/21/vetr-upgrades-verizon-communications-vz-to-strong-buy.html.

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.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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.

Latest News

Leave a Reply