Verizon Communications (NYSE:VZ) Given New $46.00 Price Target at Barclays

Verizon Communications (NYSE:VZ) had its price objective lifted by stock analysts at Barclays from $45.00 to $46.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an “equal weight” rating on the cell phone carrier’s stock. Barclays‘s price objective indicates a potential downside of 0.72% from the company’s previous close.

A number of other research firms have also commented on VZ. Freedom Capital raised shares of Verizon Communications to a “hold” rating in a research note on Friday, June 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Verizon Communications in a research report on Friday, May 29th. Morgan Stanley increased their target price on Verizon Communications from $49.00 to $50.00 and gave the company an “equal weight” rating in a report on Tuesday, April 28th. BNP Paribas Exane reduced their price objective on Verizon Communications from $46.00 to $44.00 and set a “neutral” rating for the company in a research note on Tuesday, July 14th. Finally, Wells Fargo & Company assumed coverage on Verizon Communications in a report on Wednesday, July 8th. They issued an “equal weight” rating and a $43.00 target price on the stock. Nine investment analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and a consensus price target of $50.10.

Verizon Communications Price Performance

NYSE VZ opened at $46.34 on Monday. The stock has a market capitalization of $193.47 billion, a P/E ratio of 12.07, a P/E/G ratio of 1.13 and a beta of 0.26. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The business’s fifty day moving average is $45.39 and its two-hundred day moving average is $46.24. Verizon Communications has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ) last issued its earnings results on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business had revenue of $34.25 billion for the quarter, compared to analysts’ expectations of $35.16 billion. During the same period in the previous year, the firm posted $1.22 EPS. The company’s quarterly revenue was down .6% on a year-over-year basis. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, research analysts forecast that Verizon Communications will post 5 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently modified their holdings of the company. Robinswood Financial LLC bought a new position in shares of Verizon Communications in the first quarter worth about $27,000. Lam Group Inc. bought a new position in shares of Verizon Communications during the 1st quarter worth about $28,000. Strengthening Families & Communities LLC lifted its stake in shares of Verizon Communications by 490.0% in the fourth quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier’s stock valued at $26,000 after buying an additional 539 shares during the period. EQ Wealth Advisors LLC acquired a new position in Verizon Communications in the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors lifted its position in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier’s stock worth $29,000 after acquiring an additional 448 shares during the period. Institutional investors own 62.06% of the company’s stock.

Verizon Communications Company Profile

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.