Verizon Communications (NYSE:VZ) Stock Price Expected to Rise, Scotiabank Analyst Says

Verizon Communications (NYSE:VZ - Get Free Report) had its price target boosted by stock analysts at Scotiabank from $47.50 to $48.00 in a research note issued on Monday,Benzinga reports. The firm currently has a "sector perform" rating on the cell phone carrier's stock. Scotiabank's price objective points to a potential upside of 8.46% from the company's previous close.

A number of other research analysts have also recently issued reports on VZ. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a "market perform" rating and a $48.00 price objective on the stock. UBS Group lifted their price target on Verizon Communications from $44.00 to $45.00 and gave the company a "neutral" rating in a research note on Friday, December 20th. Wolfe Research upped their price objective on Verizon Communications from $50.00 to $51.00 and gave the stock an "overweight" rating in a research report on Friday, January 24th. Deutsche Bank Aktiengesellschaft lifted their target price on Verizon Communications from $40.00 to $42.00 and gave the company a "hold" rating in a research report on Friday, January 24th. Finally, StockNews.com downgraded shares of Verizon Communications from a "strong-buy" rating to a "buy" rating in a research note on Monday, December 16th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and three have assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of "Moderate Buy" and an average price target of $46.11.

Verizon Communications Price Performance

NYSE:VZ traded up $1.42 during trading hours on Monday, reaching $44.26. 22,795,873 shares of the company were exchanged, compared to its average volume of 17,738,851. The company has a market capitalization of $186.30 billion, a P/E ratio of 10.69, a P/E/G ratio of 4.45 and a beta of 0.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The business has a 50 day moving average of $40.40 and a 200 day moving average of $41.77. Verizon Communications has a 1-year low of $37.59 and a 1-year high of $45.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing analysts' consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same period in the prior year, the firm posted $1.08 earnings per share. Research analysts forecast that Verizon Communications will post 4.69 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Kyle Malady sold 11,085 shares of the firm's stock in a transaction that occurred on Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now owns 14,590 shares of the company's stock, valued at $596,439.20. This trade represents a 43.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vandana Venkatesh sold 10,000 shares of the business's stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares in the company, valued at $633,159.61. The trade was a 40.88 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 49,085 shares of company stock worth $2,020,895. Company insiders own 0.02% of the company's stock.

Institutional Trading of Verizon Communications

Large investors have recently made changes to their positions in the company. Birmingham Capital Management Co. Inc. AL increased its stake in Verizon Communications by 9.5% during the 4th quarter. Birmingham Capital Management Co. Inc. AL now owns 24,252 shares of the cell phone carrier's stock valued at $970,000 after purchasing an additional 2,100 shares in the last quarter. BridgePort Financial Solutions LLC bought a new stake in shares of Verizon Communications during the fourth quarter worth about $381,000. Park Square Financial Group LLC bought a new position in Verizon Communications in the 4th quarter valued at about $192,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Verizon Communications during the 4th quarter valued at about $128,434,000. Finally, Brucke Financial Inc. acquired a new position in Verizon Communications during the 4th quarter valued at about $439,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

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).