Verizon Communications (VZ) Rating Increased to Overweight at Barclays

Barclays upgraded shares of Verizon Communications (NYSE:VZ) from an equal weight rating to an overweight rating in a report published on Monday, MarketBeat Ratings reports. They currently have $56.00 price objective on the cell phone carrier’s stock.

Several other research firms also recently issued reports on VZ. Scotiabank upgraded Verizon Communications from a sector perform rating to a buy rating and set a $60.00 price target for the company in a research note on Monday, January 22nd. Zacks Investment Research upgraded Verizon Communications from a hold rating to a buy rating and set a $56.00 price target for the company in a research note on Tuesday, February 13th. Scotia Howard Weill upgraded Verizon Communications from a sector perform rating to a sector outperform rating in a research note on Monday, January 22nd. Vetr downgraded Verizon Communications from a strong-buy rating to a buy rating and set a $52.49 price target for the company. in a research note on Tuesday, April 3rd. Finally, Moffett Nathanson downgraded Verizon Communications from a buy rating to a neutral rating in a research note on Tuesday, January 16th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $54.75.

VZ opened at $50.10 on Monday. The firm has a market capitalization of $200,866.72, a P/E ratio of 13.40, a PEG ratio of 1.97 and a beta of 0.64. Verizon Communications has a 1 year low of $42.80 and a 1 year high of $54.77. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.06. The business had revenue of $31.77 billion during the quarter, compared to the consensus estimate of $31.25 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. research analysts expect that Verizon Communications will post 4.54 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.71%. Verizon Communications’s payout ratio is 63.10%.

In other news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.09% of the company’s stock.

Several institutional investors have recently bought and sold shares of VZ. Beach Investment Management LLC. acquired a new position in shares of Verizon Communications during the 2nd quarter worth $4,320,000. QCI Asset Management Inc. NY raised its holdings in shares of Verizon Communications by 3.1% during the 2nd quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock worth $13,974,000 after buying an additional 9,366 shares in the last quarter. Evergreen Capital Management LLC raised its holdings in shares of Verizon Communications by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock worth $2,586,000 after buying an additional 3,250 shares in the last quarter. Homrich & Berg raised its holdings in shares of Verizon Communications by 11.5% during the 2nd quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock worth $2,097,000 after buying an additional 4,848 shares in the last quarter. Finally, Motco increased its holdings in Verizon Communications by 3.1% in the 2nd quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock worth $3,764,000 after purchasing an additional 2,514 shares in the last quarter. 64.04% of the stock is owned by institutional investors.

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Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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