Verizon Communications (NYSE:VZ) Earns "Buy (B-)" Rating from Weiss Ratings

Key Points

• Verizon Communications received a reaffirmed "Buy (B-)" rating from Weiss Ratings amidst a mix of analyst opinions, with several other firms issuing varying ratings from "Strong Buy" to "Hold".
• The stock's current average price target is $47.63, with a consensus rating of "Moderate Buy" based on recent analyst assessments.
• Verizon reported $1.22 earnings per share in its latest quarterly earnings, exceeding analyst expectations, and indicated strong revenue growth with $34.50 billion for the quarter.

Verizon Communications (NYSE:VZ - Get Free Report)'s stock had its "buy (b-)" rating reiterated by Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

A number of other analysts have also recently weighed in on the stock. Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Wall Street Zen lowered shares of Verizon Communications from a "buy" rating to a "hold" rating in a report on Friday, September 26th. Bank of America upped their price objective on shares of Verizon Communications from $45.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Wells Fargo & Company boosted their target price on shares of Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research report on Thursday, July 10th. Finally, Scotiabank upped their price objective on shares of Verizon Communications from $50.00 to $50.50 and gave the stock a "sector perform" rating in a research report on Monday. Three analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $47.63.

Verizon Communications Trading Down 0.3%

Shares of VZ traded down $0.11 during trading hours on Wednesday, reaching $41.30. The stock had a trading volume of 24,345,214 shares, compared to its average volume of 21,223,465. The company has a quick ratio of 0.60, a current ratio of 0.64 and a debt-to-equity ratio of 1.19. Verizon Communications has a 52 week low of $37.58 and a 52 week high of $47.35. The firm has a 50-day moving average of $43.60 and a 200 day moving average of $43.32. The company has a market cap of $174.11 billion, a P/E ratio of 9.62, a P/E/G ratio of 3.20 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The company had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter last year, the company earned $1.15 EPS. Verizon Communications's revenue for the quarter was up 5.2% compared to the same quarter last year. Verizon Communications has set its FY 2025 guidance at 4.636-4.728 EPS. On average, sell-side analysts expect that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Bernard Wealth Management Corp. grew its stake in shares of Verizon Communications by 81.0% during the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after purchasing an additional 243 shares during the period. Bulwark Capital Corp bought a new position in shares of Verizon Communications during the second quarter worth $25,000. Cherry Tree Wealth Management LLC boosted its position in shares of Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after acquiring an additional 244 shares during the last quarter. Garde Capital Inc. bought a new position in shares of Verizon Communications during the first quarter worth $26,000. Finally, Advantage Trust Co lifted its position in Verizon Communications by 549.5% during the second quarter. Advantage Trust Co now owns 591 shares of the cell phone carrier's stock valued at $26,000 after purchasing an additional 500 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).

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