Verizon Communications (NYSE:VZ) Upgraded by StockNews.com to “Buy”

Verizon Communications (NYSE:VZ) was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating in a note issued to investors on Saturday.

Several other research analysts have also issued reports on the stock. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price target for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. KeyCorp increased their price target on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 24th. Daiwa Capital Markets upgraded shares of Verizon Communications from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Barclays increased their price target on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Friday, January 26th. Finally, UBS Group increased their price target on shares of Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average target price of $44.21.

Verizon Communications Trading Down 0.1 %

Shares of VZ opened at $38.89 on Friday. The stock has a market capitalization of $163.70 billion, a P/E ratio of 14.51, a PEG ratio of 2.84 and a beta of 0.42. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42. The firm has a fifty day simple moving average of $40.36 and a two-hundred day simple moving average of $38.74. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42.

Verizon Communications (NYSE:VZ) last posted its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 EPS for the quarter, topping the consensus estimate of $1.12 by $0.03. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The firm had revenue of $33 billion during the quarter, compared to analysts’ expectations of $33.23 billion. During the same period last year, the company posted $1.20 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. On average, research analysts anticipate that Verizon Communications will post 4.6 EPS for the current year.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 24,000 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Institutional investors have recently made changes to their positions in the business. LFA Lugano Financial Advisors SA grew its position in shares of Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after purchasing an additional 565 shares in the last quarter. Criterion Capital Advisors LLC purchased a new position in Verizon Communications during the 4th quarter valued at approximately $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications during the 4th quarter valued at approximately $29,000. Morton Brown Family Wealth LLC grew its holdings in Verizon Communications by 130.1% during the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock valued at $33,000 after buying an additional 488 shares in the last quarter. Finally, Pittenger & Anderson Inc. grew its holdings in Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier’s stock valued at $37,000 after buying an additional 296 shares in the last quarter. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).