Verizon Communications (NYSE:VZ) Receives Outperform Rating from Oppenheimer

Verizon Communications (NYSE:VZ - Get Free Report)'s stock had its "outperform" rating restated by equities research analysts at Oppenheimer in a report released on Tuesday, Benzinga reports. They currently have a $48.00 price objective on the cell phone carrier's stock. Oppenheimer's price target would indicate a potential upside of 20.95% from the company's current price.

VZ has been the subject of a number of other research reports. Tigress Financial lifted their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a "buy" rating in a report on Thursday, January 25th. Raymond James lifted their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the company an "outperform" rating in a report on Wednesday, January 24th. Wells Fargo & Company lifted their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the company an "equal weight" rating in a report on Wednesday, January 24th. Redburn Atlantic upgraded shares of Verizon Communications from a "sell" rating to a "neutral" rating and lifted their price objective for the company from $33.00 to $39.00 in a report on Friday, March 22nd. Finally, UBS Group lifted their price objective on shares of Verizon Communications from $37.00 to $43.00 and gave the company a "neutral" rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $44.21.

Verizon Communications Trading Up 2.8 %

Shares of Verizon Communications stock traded up $1.09 on Tuesday, reaching $39.69. The company had a trading volume of 25,970,800 shares, compared to its average volume of 20,270,385. The firm's 50 day moving average price is $40.53 and its two-hundred day moving average price is $38.38. The firm has a market cap of $166.85 billion, a PE ratio of 14.42, a PEG ratio of 3.30 and a beta of 0.41. Verizon Communications has a 52-week low of $30.14 and a 52-week high of $43.42. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business's revenue was up .3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.20 EPS. Sell-side analysts predict that Verizon Communications will post 4.58 earnings per share for the current fiscal year.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of the stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $40.33, for a total value of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares of the company's stock, valued at approximately $2,387,576.33. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds have recently modified their holdings of VZ. LFA Lugano Financial Advisors SA boosted its stake in shares of Verizon Communications by 627.8% during the 4th quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier's stock worth $25,000 after purchasing an additional 565 shares during the last quarter. Criterion Capital Advisors LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth about $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in shares of Verizon Communications during the 4th quarter worth about $29,000. Morton Brown Family Wealth LLC lifted its holdings in shares of Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier's stock worth $33,000 after acquiring an additional 488 shares during the period. Finally, HBC Financial Services PLLC lifted its holdings in shares of Verizon Communications by 320.0% during the 3rd quarter. HBC Financial Services PLLC now owns 1,050 shares of the cell phone carrier's stock worth $34,000 after acquiring an additional 800 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Company Profile

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).