StockNews.com Downgrades Verizon Communications (NYSE:VZ) to Buy

Verizon Communications (NYSE:VZ) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a research note issued to investors on Thursday.

Other equities research analysts have also issued research reports about the stock. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Wolfe Research lowered shares of Verizon Communications from an “outperform” rating to a “peer perform” rating in a research note on Wednesday. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research note on Wednesday, January 15th. Royal Bank of Canada reduced their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research note on Friday, January 24th. Finally, Argus raised shares of Verizon Communications to a “strong-buy” rating in a research note on Monday, January 27th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus price target of $46.11.

Verizon Communications Trading Down 0.1 %

NYSE VZ opened at $43.67 on Thursday. Verizon Communications has a twelve month low of $37.59 and a twelve month high of $47.36. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The stock has a market cap of $183.82 billion, a price-to-earnings ratio of 10.55, a PEG ratio of 4.45 and a beta of 0.41. The firm’s 50 day moving average price is $41.01 and its two-hundred day moving average price is $41.93.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the firm earned $1.08 EPS. Equities analysts anticipate that Verizon Communications will post 4.69 EPS for the current year.

Insider Transactions at Verizon Communications

In related news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the sale, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. The trade was a 40.88 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Kyle Malady sold 11,085 shares of the company’s stock in a transaction dated Wednesday, January 29th. The shares were sold at an average price of $40.88, for a total transaction of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares in the company, valued at approximately $596,439.20. The trade was a 43.17 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 49,085 shares of company stock worth $2,020,895. 0.02% of the stock is currently owned by company insiders.

Institutional Trading of Verizon Communications

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Mainstream Capital Management LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $28,000. Mattson Financial Services LLC boosted its position in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 415 shares in the last quarter. Legend Financial Advisors Inc. boosted its position in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after buying an additional 320 shares in the last quarter. Capital A Wealth Management LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $32,000. Finally, Graney & King LLC acquired a new position in Verizon Communications in the fourth quarter valued at about $32,000. 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).