Verizon Communications (NYSE:VZ) Now Covered by Analysts at The Goldman Sachs Group

Key Points

• Goldman Sachs upgraded Verizon Communications to a "strong-buy" rating, signaling increased confidence in the company's stock.
• Verizon reported $1.22 EPS for the last quarter, surpassing analysts' expectations of $1.19, and its revenue grew by 5.2% year-over-year.
• The stock currently has a consensus rating of "Moderate Buy" with a target price of $47.44, according to MarketBeat data.

Investment analysts at The Goldman Sachs Group assumed coverage on shares of Verizon Communications (NYSE:VZ - Get Free Report) in a report issued on Tuesday, MarketBeat.com reports. The brokerage set a "buy" rating and a $49.00 price target on the cell phone carrier's stock. The Goldman Sachs Group's price objective would indicate a potential upside of 11.94% from the company's previous close.

A number of other equities research analysts have also weighed in on VZ. JPMorgan Chase & Co. raised 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, July 22nd. 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 research report on Tuesday, July 22nd. Wells Fargo & Company boosted their price target on Verizon Communications from $42.00 to $43.00 and gave the stock an "equal weight" rating in a research note on Thursday, July 10th. Royal Bank Of Canada increased their price target on Verizon Communications from $45.00 to $46.00 and gave the company a "sector perform" rating in a report on Tuesday, July 22nd. Finally, Wall Street Zen upgraded Verizon Communications from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Four equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and eleven have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $47.44.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $43.78 on Tuesday. The company has a market cap of $184.57 billion, a P/E ratio of 10.20, a PEG ratio of 3.41 and a beta of 0.36. The company has a debt-to-equity ratio of 1.19, a quick ratio of 0.60 and a current ratio of 0.64. Verizon Communications has a one year low of $37.58 and a one year high of $47.35. The business's 50-day simple moving average is $43.09 and its 200 day simple moving average is $43.30.

Verizon Communications (NYSE:VZ - Get Free Report) last released its quarterly earnings results on Monday, July 21st. The cell phone carrier reported $1.22 earnings per share for the quarter, topping analysts' consensus estimates of $1.19 by $0.03. Verizon Communications had a return on equity of 19.61% and a net margin of 13.28%.The firm had revenue of $34.50 billion during the quarter, compared to analysts' expectations of $33.47 billion. During the same quarter in the prior year, the business earned $1.15 EPS. Verizon Communications's quarterly revenue 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 forecast that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Institutional Trading of Verizon Communications

Several institutional investors have recently added to or reduced their stakes in the business. Bernard Wealth Management Corp. boosted its holdings in shares of Verizon Communications by 81.0% in the 1st quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock valued at $25,000 after buying an additional 243 shares during the period. Garde Capital Inc. bought a new position in Verizon Communications in the first quarter worth about $26,000. Cherry Tree Wealth Management LLC boosted its stake in Verizon Communications by 71.8% in the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock valued at $26,000 after acquiring an additional 244 shares during the period. Bulwark Capital Corp acquired a new position in Verizon Communications in the second quarter valued at approximately $25,000. Finally, Advantage Trust Co grew its holdings in shares of 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. Institutional investors 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).