Verizon Communications Inc. (NYSE:VZ) was the recipient of a large increase in short interest in the month of February. As of February 28th, there was short interest totalling 46,356,655 shares, an increase of 26.7% from the February 15th total of 36,591,989 shares. Approximately 1.1% of the company’s shares are sold short. Based on an average daily trading volume, of 21,037,714 shares, the days-to-cover ratio is presently 2.2 days.
Verizon Communications (NYSE:VZ) opened at $48.65 on Wednesday. The company has a market cap of $198,470.00, a price-to-earnings ratio of 14.97, a price-to-earnings-growth ratio of 1.99 and a beta of 0.67. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.77.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.86 EPS. sell-side analysts forecast that Verizon Communications will post 4.55 EPS for the current year.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.13% of the stock is currently owned by insiders.
Several hedge funds have recently modified their holdings of VZ. Exane Derivatives acquired a new position in shares of Verizon Communications during the fourth quarter worth $103,000. Earnest Partners LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $103,000. Stelac Advisory Services LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $111,000. Wagner Wealth Management LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $129,000. Finally, Avestar Capital LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth $131,000. Hedge funds and other institutional investors own 64.37% of the company’s stock.
VZ has been the topic of a number of research analyst reports. Nomura boosted their target price on Verizon Communications from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Bank of America boosted their target price on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Instinet boosted their target price on Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Friday, December 1st. Finally, Scotiabank raised Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a research report on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $53.69.
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About Verizon Communications
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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