Oppenheimer Reaffirms “Outperform” Rating for Verizon Communications (NYSE:VZ)

Verizon Communications (NYSE:VZGet Free Report)‘s stock had its “outperform” rating reiterated by investment analysts at Oppenheimer in a research note issued to investors on Wednesday, Benzinga reports. They presently have a $48.00 price objective on the cell phone carrier’s stock. Oppenheimer’s target price would suggest a potential upside of 12.44% from the stock’s current price.

VZ has been the subject of several other reports. Barclays upped their price objective on Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Friday, January 26th. StockNews.com cut Verizon Communications from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. KeyCorp upped their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Redburn Atlantic raised Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the company from $33.00 to $39.00 in a research report on Friday, March 22nd. Finally, Wells Fargo & Company increased their price target on Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 24th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average target price of $44.50.

View Our Latest Analysis on VZ

Verizon Communications Trading Up 0.4 %

NYSE VZ traded up $0.15 on Wednesday, reaching $42.69. The company had a trading volume of 2,540,003 shares, compared to its average volume of 19,932,098. The stock’s 50 day moving average is $40.74 and its 200-day moving average is $37.60. The stock has a market cap of $179.48 billion, a price-to-earnings ratio of 15.46, a PEG ratio of 3.43 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. Verizon Communications has a 52 week low of $30.14 and a 52 week high of $43.21.

Verizon Communications (NYSE:VZGet Free Report) last released its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting analysts’ consensus estimates of $1.08. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. The business had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter in the prior year, the company posted $1.19 earnings per share. The firm’s revenue was down .6% on a year-over-year basis. Equities analysts predict that Verizon Communications will post 4.61 earnings per share for the current year.

Insider Buying and Selling at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the completion of the transaction, the chief executive officer now directly owns 59,201 shares of the company’s stock, valued at approximately $2,387,576.33. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.03% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Portland Investment Counsel Inc. increased its position in Verizon Communications by 173.7% in the 3rd quarter. Portland Investment Counsel Inc. now owns 652,169 shares of the cell phone carrier’s stock valued at $21,137,000 after buying an additional 413,869 shares in the last quarter. Dynamic Advisor Solutions LLC boosted its stake in shares of Verizon Communications by 1.3% in the 4th quarter. Dynamic Advisor Solutions LLC now owns 127,632 shares of the cell phone carrier’s stock worth $5,131,000 after buying an additional 1,616 shares during the last quarter. 180 Wealth Advisors LLC boosted its stake in shares of Verizon Communications by 6.2% in the 3rd quarter. 180 Wealth Advisors LLC now owns 51,757 shares of the cell phone carrier’s stock worth $1,677,000 after buying an additional 3,020 shares during the last quarter. Fidelity D & D Bancorp Inc. purchased a new position in shares of Verizon Communications in the 3rd quarter worth approximately $306,000. Finally, Regal Investment Advisors LLC raised its holdings in shares of Verizon Communications by 24.1% in the 3rd quarter. Regal Investment Advisors LLC now owns 183,615 shares of the cell phone carrier’s stock worth $5,951,000 after purchasing an additional 35,675 shares during the period. 62.06% of the stock is owned by institutional investors.

About Verizon Communications

(Get Free Report)

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).

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