Verizon Communications (NYSE:VZ) Coverage Initiated by Analysts at Barclays

Equities researchers at Barclays assumed coverage on shares of Verizon Communications (NYSE:VZ) in a report issued on Thursday, Marketbeat reports. The brokerage set an “equal weight” rating and a $43.00 price target on the cell phone carrier’s stock. Barclays‘s target price points to a potential upside of 9.25% from the company’s previous close.

VZ has been the topic of a number of other research reports. Royal Bank Of Canada decreased their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “sector perform” rating on the stock in a research note on Thursday, October 30th. Sanford C. Bernstein dropped their target price on shares of Verizon Communications from $46.00 to $44.00 and set a “market perform” rating for the company in a report on Friday, January 16th. BNP Paribas Exane cut Verizon Communications from an “outperform” rating to a “neutral” rating and set a $44.00 price target on the stock. in a report on Tuesday, October 21st. Morgan Stanley cut their target price on Verizon Communications from $48.00 to $47.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 10th. Finally, TD Cowen lowered their target price on shares of Verizon Communications from $56.00 to $51.00 and set a “buy” rating on the stock in a report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and twelve have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $47.00.

Verizon Communications Trading Up 0.3%

NYSE:VZ opened at $39.36 on Thursday. Verizon Communications has a 52 week low of $38.39 and a 52 week high of $47.35. The stock has a market cap of $165.95 billion, a price-to-earnings ratio of 8.41, a PEG ratio of 3.73 and a beta of 0.34. The company’s 50 day moving average price is $40.44 and its 200-day moving average price is $41.67. The company has a quick ratio of 0.69, a current ratio of 0.74 and a debt-to-equity ratio of 1.19.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Wednesday, October 29th. The cell phone carrier reported $1.21 earnings per share for the quarter, topping the consensus estimate of $1.19 by $0.02. The firm had revenue of $33.82 billion during the quarter, compared to analysts’ expectations of $34.19 billion. Verizon Communications had a return on equity of 19.31% and a net margin of 14.43%.The company’s revenue was up 1.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.19 earnings per share. On average, equities research analysts forecast that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Institutional Trading of Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of VZ. Advantage Trust Co boosted its holdings in shares of Verizon Communications by 549.5% in the 2nd quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier’s stock valued at $26,000 after acquiring an additional 500 shares during the last quarter. TruNorth Capital Management LLC raised its stake in shares of Verizon Communications by 95.3% during the 3rd quarter. TruNorth Capital Management LLC now owns 625 shares of the cell phone carrier’s stock valued at $27,000 after buying an additional 305 shares during the last quarter. Holos Integrated Wealth LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $28,000. Foster Dykema Cabot & Partners LLC purchased a new position in shares of Verizon Communications during the 3rd quarter valued at approximately $29,000. Finally, Global Wealth Strategies & Associates lifted its stake in shares of Verizon Communications by 739.5% in the 3rd quarter. Global Wealth Strategies & Associates now owns 680 shares of the cell phone carrier’s stock valued at $30,000 after purchasing an additional 599 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.