Verizon Communications (NYSE:VZ) Upgraded to Strong-Buy at Argus

Verizon Communications (NYSE:VZ) was upgraded by equities researchers at Argus to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

A number of other research firms have also recently weighed in on VZ. Tigress Financial boosted their target price on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Wolfe Research upped their price target on shares of Verizon Communications from $50.00 to $51.00 and gave the company an “overweight” rating in a research note on Friday, January 24th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Sanford C. Bernstein assumed coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They set a “market perform” rating and a $48.00 price target on the stock. Finally, DZ Bank raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a report on Wednesday. Ten analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Stock Down 0.4 %

Verizon Communications stock opened at $40.25 on Monday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market cap of $169.43 billion, a PE ratio of 17.35, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. Verizon Communications has a fifty-two week low of $37.58 and a fifty-two week high of $45.36. The firm’s 50-day simple moving average is $40.79 and its 200 day simple moving average is $41.61.

Verizon Communications (NYSE:VZ) last released its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same quarter in the previous year, the firm earned $1.08 earnings per share. Research analysts predict that Verizon Communications will post 4.59 EPS for the current fiscal year.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 20,000 shares of the stock in a transaction on Monday, January 27th. The shares were sold at an average price of $40.54, for a total transaction of $810,800.00. Following the transaction, the chief executive officer now owns 45,675 shares of the company’s stock, valued at approximately $1,851,664.50. This trade represents a 30.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.02% of the stock is owned by insiders.

Institutional Investors Weigh In On Verizon Communications

Several institutional investors have recently added to or reduced their stakes in the company. Fermata Advisors LLC raised its position in Verizon Communications by 4.5% during the 3rd quarter. Fermata Advisors LLC now owns 5,626 shares of the cell phone carrier’s stock worth $253,000 after buying an additional 243 shares during the last quarter. Austin Private Wealth LLC raised its position in Verizon Communications by 3.0% during the 3rd quarter. Austin Private Wealth LLC now owns 8,450 shares of the cell phone carrier’s stock worth $379,000 after buying an additional 243 shares during the last quarter. Cary Street Partners Asset Management LLC increased its holdings in shares of Verizon Communications by 3.4% during the 3rd quarter. Cary Street Partners Asset Management LLC now owns 7,628 shares of the cell phone carrier’s stock valued at $343,000 after purchasing an additional 249 shares in the last quarter. Wynn Capital LLC increased its holdings in shares of Verizon Communications by 4.4% during the 3rd quarter. Wynn Capital LLC now owns 5,945 shares of the cell phone carrier’s stock valued at $267,000 after purchasing an additional 250 shares in the last quarter. Finally, Western Financial Corp CA increased its holdings in shares of Verizon Communications by 1.5% during the 3rd quarter. Western Financial Corp CA now owns 17,491 shares of the cell phone carrier’s stock valued at $786,000 after purchasing an additional 250 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).