Scotiabank Forecasts Strong Price Appreciation for Verizon Communications (NYSE:VZ) Stock

Key Points

• Scotiabank raised Verizon’s price target from $51.50 to $52.50 and maintained a “sector outperform” rating, implying 11.46% upside from the prior close.
• Verizon shares rose 1.6% to $47.10, while the broader analyst consensus remained “Hold,” with an average price target of $50.43.
• Verizon exceeded quarterly EPS expectations, reporting $1.30 versus the $1.27 consensus estimate, though revenue of $34.25 billion fell short of estimates and declined 0.6% year over year.

Verizon Communications (NYSE:VZ - Get Free Report) had its price target boosted by analysts at Scotiabank from $51.50 to $52.50 in a research report issued on Monday,Benzinga reports. The firm presently has a "sector outperform" rating on the cell phone carrier's stock. Scotiabank's price target would suggest a potential upside of 11.46% from the company's previous close.

VZ has been the topic of a number of other research reports. Dbs Bank lowered Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Barclays raised their price target on Verizon Communications from $45.00 to $46.00 and gave the stock an "equal weight" rating in a research report on Monday. Weiss Ratings reiterated a "buy (b)" rating on shares of Verizon Communications in a report on Friday, May 29th. JPMorgan Chase & Co. increased their target price on Verizon Communications from $49.00 to $52.00 and gave the stock a "neutral" rating in a research note on Thursday, April 30th. Finally, BNP Paribas Exane lowered their target price on Verizon Communications from $46.00 to $44.00 and set a "neutral" rating for the company in a report on Tuesday, July 14th. Nine analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company. Based on data from MarketBeat.com, Verizon Communications has an average rating of "Hold" and an average price target of $50.43.

Verizon Communications Trading Up 1.6%

Shares of VZ traded up $0.72 during trading on Monday, reaching $47.10. 4,133,172 shares of the company traded hands, compared to its average volume of 29,003,684. Verizon Communications has a twelve month low of $38.39 and a twelve month high of $51.68. The stock has a market cap of $196.67 billion, a PE ratio of 12.27, a price-to-earnings-growth ratio of 1.13 and a beta of 0.26. The stock has a 50-day simple moving average of $45.39 and a 200-day simple moving average of $46.24. The company has a quick ratio of 0.57, a current ratio of 0.60 and a debt-to-equity ratio of 1.36.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $34.25 billion for the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a net margin of 11.64% and a return on equity of 19.48%. The business's revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.22 EPS. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. On average, analysts anticipate that Verizon Communications will post 5 earnings per share for the current year.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds have recently bought and sold shares of VZ. Robinswood Financial LLC acquired a new stake in Verizon Communications in the first quarter valued at approximately $27,000. Lam Group Inc. acquired a new position in Verizon Communications during the 1st quarter worth approximately $28,000. Strengthening Families & Communities LLC increased its position in shares of Verizon Communications by 490.0% in the 4th quarter. Strengthening Families & Communities LLC now owns 649 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 539 shares during the last quarter. EQ Wealth Advisors LLC purchased a new stake in shares of Verizon Communications in the 4th quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors raised its holdings in shares of Verizon Communications by 173.0% in the 4th quarter. Sarver Vrooman Wealth Advisors now owns 707 shares of the cell phone carrier's stock valued at $29,000 after purchasing an additional 448 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company's stock.

About Verizon Communications

Verizon Communications Inc NYSE: VZ is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company's consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.

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