Verizon Communications (NYSE:VZ) Price Target Raised to $47.00 at Wells Fargo & Company

Key Points

• Wells Fargo raised Verizon’s price target from $43 to $47 while maintaining an “equal weight” rating, implying approximately 1.84% upside from the reported share price.
• Analyst sentiment remains cautious: Verizon has an overall “Hold” consensus rating and a consensus price target of $50.37, based on nine Buy and eleven Hold ratings.
• Verizon exceeded quarterly earnings expectations with EPS of $1.30 versus the $1.27 consensus, 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 objective boosted by research analysts at Wells Fargo & Company from $43.00 to $47.00 in a report released on Monday,Benzinga reports. The brokerage presently has an "equal weight" rating on the cell phone carrier's stock. Wells Fargo & Company's price objective suggests a potential upside of 1.84% from the company's current price.

A number of other research analysts have also weighed in on VZ. Erste Group Bank reissued a "hold" rating on shares of Verizon Communications in a report on Tuesday, May 5th. Dbs Bank cut shares of Verizon Communications from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Morgan Stanley lifted their price target on Verizon Communications from $49.00 to $50.00 and gave the stock an "equal weight" rating in a research report on Tuesday, April 28th. Weiss Ratings restated a "buy (b)" rating on shares of Verizon Communications in a research report on Friday, May 29th. Finally, Royal Bank Of Canada dropped their target price on Verizon Communications from $48.00 to $46.00 and set a "sector perform" rating for the company in a report on Monday, July 20th. Nine analysts have rated the stock with a Buy rating and eleven have assigned a Hold rating to the company's stock. According to data from MarketBeat, Verizon Communications has an average rating of "Hold" and a consensus price target of $50.37.

Verizon Communications Price Performance

Shares of NYSE:VZ opened at $46.15 on Monday. The company has a debt-to-equity ratio of 1.36, a quick ratio of 0.57 and a current ratio of 0.60. The firm has a market cap of $192.70 billion, a price-to-earnings ratio of 12.02, a P/E/G ratio of 1.13 and a beta of 0.26. The firm has a fifty day moving average price of $45.39 and a 200 day moving average price of $46.24. Verizon Communications has a fifty-two week low of $38.39 and a fifty-two week high of $51.68.

Verizon Communications (NYSE:VZ - Get Free Report) last issued its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.30 earnings per share for the quarter, beating analysts' consensus estimates of $1.27 by $0.03. The firm had revenue of $34.25 billion during the quarter, compared to analyst estimates of $35.16 billion. Verizon Communications had a return on equity of 19.48% and a net margin of 11.64%.The business's quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.990-5.040 EPS. As a group, sell-side analysts expect that Verizon Communications will post 5 earnings per share for the current fiscal year.

Institutional Trading of Verizon Communications

Several institutional investors and hedge funds have recently made changes to their positions in the business. Strengthening Families & Communities LLC boosted its position in 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 buying an additional 539 shares during the period. Robinswood Financial LLC purchased a new position in shares of Verizon Communications during the first quarter worth approximately $27,000. Lam Group Inc. bought a new stake in shares of Verizon Communications during the first quarter valued at approximately $28,000. EQ Wealth Advisors LLC bought a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $29,000. Finally, Sarver Vrooman Wealth Advisors boosted its holdings in shares of Verizon Communications by 173.0% in the fourth 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 during the period. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Company Profile

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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