Analysts at Oppenheimer began coverage on shares of Verizon Communications (NYSE:VZ) in a research report issued on Tuesday, TipRanks reports. The firm set a “buy” rating and a $70.00 price target on the cell phone carrier’s stock. Oppenheimer’s price objective would indicate a potential upside of 15.95% from the stock’s previous close.
VZ has been the subject of several other reports. Moffett Nathanson reissued a “hold” rating and set a $62.00 price target on shares of Verizon Communications in a research report on Friday, July 24th. Royal Bank of Canada reaffirmed a “hold” rating and issued a $57.00 price objective on shares of Verizon Communications in a research report on Wednesday, September 9th. UBS Group raised their price objective on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Scotiabank raised their price objective on Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Finally, Raymond James raised their price objective on Verizon Communications from $61.00 to $64.00 and gave the company an “outperform” rating in a research report on Monday, July 27th. One analyst has rated the stock with a sell rating, sixteen have given a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and an average target price of $62.27.
Shares of NYSE VZ opened at $60.37 on Tuesday. The stock has a 50 day moving average price of $59.04 and a 200 day moving average price of $56.49. Verizon Communications has a 52 week low of $48.84 and a 52 week high of $62.22. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market capitalization of $249.81 billion, a PE ratio of 13.10, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the consensus estimate of $1.15 by $0.03. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The firm had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. During the same period in the prior year, the firm posted $1.23 earnings per share. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. As a group, research analysts forecast that Verizon Communications will post 4.78 EPS for the current year.
Institutional investors have recently bought and sold shares of the business. LFA Lugano Financial Advisors SA bought a new position in Verizon Communications during the 2nd quarter worth $27,000. Toth Financial Advisory Corp bought a new position in shares of Verizon Communications in the 2nd quarter valued at $34,000. HighMark Wealth Management LLC increased its stake in shares of Verizon Communications by 52.1% in the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock valued at $43,000 after purchasing an additional 270 shares during the last quarter. Evolution Wealth Advisors LLC increased its stake in shares of Verizon Communications by 166.7% in the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock valued at $44,000 after purchasing an additional 500 shares during the last quarter. Finally, JJJ Advisors Inc. increased its stake in shares of Verizon Communications by 192.9% in the 2nd quarter. JJJ Advisors Inc. now owns 1,025 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 675 shares during the last quarter. Hedge funds and other institutional investors own 64.85% of the company’s stock.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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