Verizon Communications (NYSE:VZ) Receives Buy Rating from Raymond James

Verizon Communications (NYSE:VZ)‘s stock had its “buy” rating reaffirmed by Raymond James in a research report issued on Tuesday, TipRanks reports. They currently have a $64.00 price objective on the cell phone carrier’s stock. Raymond James’ price target indicates a potential upside of 18.26% from the company’s previous close.

Other analysts also recently issued reports about the company. Redburn Partners began coverage on Verizon Communications in a report on Friday, June 25th. They set a “sell” rating and a $50.00 price objective for the company. Loop Capital began coverage on Verizon Communications in a report on Monday, September 20th. They set a “hold” rating and a $57.00 price objective for the company. Cowen upped their price objective on Verizon Communications from $66.00 to $68.00 and gave the stock an “outperform” rating in a report on Thursday, July 22nd. Royal Bank of Canada started coverage on Verizon Communications in a report on Thursday, July 22nd. They set a “hold” rating and a $57.00 price objective for the company. Finally, Credit Suisse Group increased their price target on Verizon Communications from $59.00 to $60.00 and gave the company a “neutral” rating in a report on Thursday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $61.00.

VZ stock traded down $0.35 during trading on Tuesday, hitting $54.12. The company had a trading volume of 505,408 shares, compared to its average volume of 17,300,090. The firm has a market cap of $224.06 billion, a PE ratio of 11.20, a price-to-earnings-growth ratio of 2.89 and a beta of 0.47. Verizon Communications has a 1-year low of $53.83 and a 1-year high of $61.95. The firm has a 50-day moving average price of $55.17 and a 200-day moving average price of $56.46. The company has a quick ratio of 0.85, a current ratio of 0.89 and a debt-to-equity ratio of 1.93.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, July 20th. The cell phone carrier reported $1.37 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.30 by $0.07. The business had revenue of $33.76 billion for the quarter, compared to analyst estimates of $32.73 billion. Verizon Communications had a return on equity of 30.00% and a net margin of 15.05%. The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.18 EPS. Sell-side analysts anticipate that Verizon Communications will post 5.31 earnings per share for the current year.

In other news, EVP Craig L. Silliman sold 1,554 shares of the firm’s stock in a transaction on Wednesday, August 4th. The shares were sold at an average price of $55.57, for a total transaction of $86,355.78. Following the transaction, the executive vice president now owns 30,023 shares in the company, valued at approximately $1,668,378.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kumara Guru Gowrappan sold 14,077 shares of the firm’s stock in a transaction on Wednesday, August 11th. The shares were sold at an average price of $55.56, for a total transaction of $782,118.12. The disclosure for this sale can be found here. Insiders sold a total of 18,740 shares of company stock valued at $1,042,314 in the last ninety days. Company insiders own 0.10% of the company’s stock.

Large investors have recently added to or reduced their stakes in the business. Lion Street Advisors LLC bought a new position in shares of Verizon Communications in the second quarter worth about $25,000. Anfield Capital Management LLC bought a new position in shares of Verizon Communications in the second quarter worth about $32,000. Vigilant Capital Management LLC raised its stake in shares of Verizon Communications by 313.3% in the second quarter. Vigilant Capital Management LLC now owns 620 shares of the cell phone carrier’s stock worth $35,000 after acquiring an additional 470 shares during the last quarter. Baldrige Asset Management LLC bought a new position in shares of Verizon Communications in the second quarter worth about $37,000. Finally, Alpha DNA Investment Management LLC raised its stake in shares of Verizon Communications by 33.8% in the first quarter. Alpha DNA Investment Management LLC now owns 919 shares of the cell phone carrier’s stock worth $52,000 after acquiring an additional 232 shares during the last quarter. Hedge funds and other institutional investors own 63.65% of the company’s stock.

About Verizon Communications

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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