Verizon Communications (NYSE:VZ) Trading 0.4% Higher

Verizon Communications Inc. (NYSE:VZGet Free Report)’s share price traded up 0.4% during mid-day trading on Tuesday . The company traded as high as $41.33 and last traded at $41.14. 2,259,723 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 19,124,619 shares. The stock had previously closed at $40.98.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Wells Fargo & Company lowered their target price on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating for the company in a report on Tuesday, April 23rd. Royal Bank of Canada boosted their price objective on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research note on Tuesday, April 2nd. Tigress Financial boosted their price objective on shares of Verizon Communications from $50.00 to $52.00 and gave the stock a “buy” rating in a research note on Friday, May 17th. StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Finally, Oppenheimer reiterated an “outperform” rating and set a $48.00 price objective on shares of Verizon Communications in a research note on Tuesday, April 23rd. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $44.36.

Get Our Latest Report on VZ

Verizon Communications Stock Up 1.3 %

The firm has a market capitalization of $174.81 billion, a PE ratio of 15.35, a P/E/G ratio of 2.98 and a beta of 0.42. The firm’s 50 day moving average price is $40.29 and its two-hundred day moving average price is $39.67. The company has a quick ratio of 0.67, a current ratio of 0.71 and a debt-to-equity ratio of 1.42.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.03. The business had revenue of $33 billion during the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.20 earnings per share. As a group, research analysts forecast that Verizon Communications Inc. will post 4.6 EPS for the current fiscal year.

Institutional Trading of Verizon Communications

Several institutional investors have recently added to or reduced their stakes in VZ. LFA Lugano Financial Advisors SA raised its holdings in Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares in the last quarter. Criterion Capital Advisors LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $25,000. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications during the first quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new stake in shares of Verizon Communications during the fourth quarter worth $29,000. Finally, Morton Brown Family Wealth LLC raised its holdings in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

About Verizon Communications

(Get Free Report)

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).

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