Verizon Communications (NYSE:VZ) Price Target Cut to $51.50 by Analysts at Scotiabank

Key Points

• Scotiabank cut Verizon’s price target to $51.50 from $52.50 but maintained a “sector outperform” rating, implying approximately 12.16% upside from the prior close.
• Analyst sentiment remains mixed: eight analysts rate Verizon a Buy and twelve rate it a Hold, producing a consensus “Hold” rating and $50.90 price target.
• Verizon’s latest quarterly results exceeded EPS expectations at $1.30 versus $1.27, though revenue of $34.25 billion fell short of estimates and declined 0.7% year over year.

Verizon Communications (NYSE:VZ - Get Free Report) had its price objective decreased by research analysts at Scotiabank from $52.50 to $51.50 in a research report issued on Friday, Benzinga reports. The brokerage currently has a "sector outperform" rating on the cell phone carrier's stock. Scotiabank's price target points to a potential upside of 12.16% from the stock's previous close.

A number of other equities research analysts also recently commented on the company. Freedom Capital upgraded Verizon Communications to a "hold" rating in a research report on Friday, June 12th. BNP Paribas Exane cut their price target on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Barclays lifted their price objective on Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research note on Monday, July 27th. TD Cowen upped their price objective on Verizon Communications from $54.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, July 27th. Finally, Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a research report on Wednesday, August 26th. Eight research analysts have rated the stock with a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $50.90.

Verizon Communications Price Performance

VZ traded down $0.06 during trading on Friday, hitting $45.92. 3,641,264 shares of the company traded hands, compared to its average volume of 26,997,148. The company has a current ratio of 0.60, a quick ratio of 0.57 and a debt-to-equity ratio of 1.36. The company has a market cap of $190.78 billion, a PE ratio of 11.97, a P/E/G ratio of 1.56 and a beta of 0.27. The stock's 50-day simple moving average is $48.40 and its two-hundred day simple moving average is $47.25. Verizon Communications has a 1 year low of $38.39 and a 1 year high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.30 EPS for the quarter, topping the consensus estimate of $1.27 by $0.03. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business had revenue of $34.25 billion for the quarter, compared to analysts' expectations of $35.16 billion. During the same quarter in the previous year, the company earned $1.22 EPS. The business's quarterly revenue was down .7% compared to the same quarter last year. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts anticipate that Verizon Communications will post 5.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 1,100 shares of the firm's stock in a transaction on Tuesday, September 29th. The stock was sold at an average price of $46.40, for a total value of $51,040.00. Following the completion of the sale, the chief executive officer directly owned 103,266 shares in the company, valued at $4,791,542.40. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 6,600 shares of company stock worth $322,597. Corporate insiders own 0.03% of the company's stock.

Hedge Funds Weigh In On Verizon Communications

A number of large investors have recently made changes to their positions in VZ. Cornerstone Financial Management LLC boosted its position in shares of Verizon Communications by 6.2% during the 2nd quarter. Cornerstone Financial Management LLC now owns 3,568 shares of the cell phone carrier's stock valued at $151,000 after acquiring an additional 207 shares during the last quarter. RKL Wealth Management LLC boosted its holdings in Verizon Communications by 4.3% in the 1st quarter. RKL Wealth Management LLC now owns 5,338 shares of the cell phone carrier's stock valued at $268,000 after purchasing an additional 218 shares during the last quarter. Manchester Financial Inc. grew its stake in shares of Verizon Communications by 0.6% in the 2nd quarter. Manchester Financial Inc. now owns 34,924 shares of the cell phone carrier's stock valued at $1,479,000 after buying an additional 218 shares during the period. Strategic Investment Solutions Inc. IL increased its holdings in shares of Verizon Communications by 8.6% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 2,765 shares of the cell phone carrier's stock worth $113,000 after buying an additional 219 shares during the last quarter. Finally, Frazier Financial Advisors LLC raised its position in shares of Verizon Communications by 32.7% during the 1st quarter. Frazier Financial Advisors LLC now owns 888 shares of the cell phone carrier's stock valued at $45,000 after buying an additional 219 shares during the period. 62.06% of the stock is owned by hedge funds and other institutional investors.

About Verizon Communications

Verizon Communications Inc is a telecommunications company headquartered in New York City and listed on the New York Stock Exchange under the symbol VZ. The company was formed in 2000 through the merger of Bell Atlantic and GTE and has developed into one of the largest communications providers in the United States.

Verizon's consumer business provides wireless voice and data services, smartphones and other connected devices, home internet, broadband, and related communications products.

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