Verizon Communications (NYSE:VZ) Rating Increased to Buy at StockNews.com

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

A number of other analysts have also weighed in on the stock. Royal Bank of Canada upped their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a report on Tuesday, April 2nd. Redburn Atlantic upgraded Verizon Communications from a “sell” rating to a “neutral” rating and upped their target price for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. Daiwa Capital Markets upgraded Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Citigroup upped their price objective on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, January 30th. Finally, KeyCorp lifted their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the company an “overweight” rating in a research report on Wednesday, January 24th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $44.21.

Verizon Communications Stock Down 0.1 %

Verizon Communications stock opened at $38.89 on Friday. 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 50 day moving average price of $40.32 and a 200-day moving average price of $38.90. Verizon Communications has a twelve month low of $30.14 and a twelve month high of $43.42. The company has a market capitalization of $163.70 billion, a P/E ratio of 14.51, a P/E/G ratio of 2.82 and a beta of 0.42.

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

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 24,000 shares of Verizon Communications stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the sale, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.02% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in VZ. Howland Capital Management LLC boosted its position in shares of Verizon Communications by 60.0% during the first quarter. Howland Capital Management LLC now owns 32,334 shares of the cell phone carrier’s stock valued at $1,357,000 after purchasing an additional 12,120 shares in the last quarter. SPC Financial Inc. grew its stake in shares of Verizon Communications by 233.2% in the 1st quarter. SPC Financial Inc. now owns 59,536 shares of the cell phone carrier’s stock worth $2,498,000 after buying an additional 41,669 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Verizon Communications by 3.5% in the first quarter. Geneos Wealth Management Inc. now owns 163,915 shares of the cell phone carrier’s stock worth $6,878,000 after acquiring an additional 5,568 shares during the last quarter. 9258 Wealth Management LLC increased its holdings in shares of Verizon Communications by 26.9% during the first quarter. 9258 Wealth Management LLC now owns 12,086 shares of the cell phone carrier’s stock valued at $507,000 after acquiring an additional 2,561 shares in the last quarter. Finally, Valley Wealth Managers Inc. raised its position in shares of Verizon Communications by 3.3% in the 1st quarter. Valley Wealth Managers Inc. now owns 502,464 shares of the cell phone carrier’s stock worth $21,083,000 after purchasing an additional 15,825 shares during the last quarter. 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).