Verizon Communications Inc. (NYSE:VZ)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a note issued to investors on Wednesday.
A number of other equities research analysts have also issued reports on the stock. Vetr upgraded shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target on the stock in a report on Wednesday, July 5th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Sunday, July 9th. Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, twenty-two have assigned a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $52.86.
Shares of Verizon Communications (NYSE:VZ) traded down 1.156% on Wednesday, reaching $48.295. 9,617,493 shares of the company’s stock were exchanged. The stock’s 50-day moving average price is $48.48 and its 200-day moving average price is $47.04. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a market capitalization of $197.01 billion, a P/E ratio of 12.415 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The business had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. During the same quarter in the previous year, the business earned $0.94 earnings per share. The firm’s revenue was up .1% compared to the same quarter last year. Analysts anticipate that Verizon Communications will post $3.76 EPS for the current fiscal year.
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In other news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the transaction, the executive vice president now owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 1,830 shares of company stock worth $88,828 in the last ninety days. Insiders own 0.13% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Verizon Communications in the 1st quarter valued at about $136,000. American Beacon Advisors Inc. bought a new position in shares of Verizon Communications in the 1st quarter valued at about $140,000. Proficio Capital Partners LLC boosted its stake in shares of Verizon Communications by 139.8% in the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares during the last quarter. Private Vista LLC boosted its stake in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications in the 2nd quarter valued at about $156,000. 62.24% of the stock is currently owned by institutional investors.
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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