Verizon Communications (NYSE:VZ) Rating Increased to Buy at Wall Street Zen

Verizon Communications (NYSE:VZ - Get Free Report) was upgraded by Wall Street Zen from a "hold" rating to a "buy" rating in a research note issued on Saturday.

Other analysts have also issued research reports about the company. Scotiabank lifted their price objective on Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Tigress Financial lifted their price target on shares of Verizon Communications from $55.00 to $56.00 and gave the stock a "buy" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a "neutral" rating in a report on Tuesday. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $48.00 and gave the stock an "equal weight" rating in a report on Tuesday. Finally, Arete Research raised shares of Verizon Communications to a "strong-buy" rating in a research note on Tuesday, July 8th. Eleven equities research analysts have rated the stock with a hold rating, seven have given a buy rating and three have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $47.35.

Verizon Communications Stock Performance

NYSE VZ opened at $43.10 on Friday. The company's fifty day moving average is $42.86 and its two-hundred day moving average is $42.51. Verizon Communications has a 52-week low of $37.58 and a 52-week high of $47.35. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.64 and a quick ratio of 0.58. The firm has a market capitalization of $181.70 billion, a price-to-earnings ratio of 10.05, a P/E/G ratio of 3.33 and a beta of 0.37.

Verizon Communications (NYSE:VZ - Get Free Report) last released its earnings results 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 net margin of 13.28% and a return on equity of 19.61%. The business 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 earnings per share. The firm's revenue was up 5.2% on a year-over-year basis. Equities research analysts forecast that Verizon Communications will post 4.69 EPS for the current year.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the business's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $44.10, for a total value of $396,900.00. Following the completion of the transaction, the chief executive officer directly owned 10,008 shares of the company's stock, valued at approximately $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Verizon Communications

Large investors have recently made changes to their positions in the company. Bernard Wealth Management Corp. grew its position 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 worth $25,000 after buying an additional 243 shares during the period. Bulwark Capital Corp acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $25,000. Cherry Tree Wealth Management LLC boosted its stake in Verizon Communications by 71.8% during the 1st 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. acquired a new position in Verizon Communications during the first quarter valued at approximately $26,000. Finally, 1 North Wealth Services LLC bought a new stake in Verizon Communications in the first quarter valued at approximately $29,000. Institutional investors and hedge funds own 62.06% of the company's stock.

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).

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