Verizon Communications (NYSE:VZ) Shares Up 0.4%

Verizon Communications Inc. (NYSE:VZ - Get Free Report) shares traded up 0.4% on Wednesday . The company traded as high as $43.27 and last traded at $43.09. 3,954,739 shares were traded during mid-day trading, a decline of 78% from the average session volume of 18,296,189 shares. The stock had previously closed at $42.93.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada restated a "sector perform" rating and issued a $42.00 price objective on shares of Verizon Communications in a report on Tuesday, July 23rd. JPMorgan Chase & Co. lowered their price objective on shares of Verizon Communications from $46.00 to $45.00 and set a "neutral" rating for the company in a report on Tuesday, July 23rd. TD Cowen boosted their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a "buy" rating in a report on Tuesday, July 23rd. 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 report on Friday, May 17th. Finally, Scotiabank boosted their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the stock a "sector perform" rating in a report on Wednesday, July 10th. Seven research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Verizon Communications has an average rating of "Moderate Buy" and an average price target of $45.78.

Verizon Communications Trading Down 3.5 %

The company has a debt-to-equity ratio of 1.29, a quick ratio of 0.60 and a current ratio of 0.63. The stock's 50-day simple moving average is $40.91 and its 200-day simple moving average is $40.51. The firm has a market capitalization of $174.39 billion, a PE ratio of 16.08, a P/E/G ratio of 3.81 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting analysts' consensus estimates of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm had revenue of $32.80 billion for the quarter, compared to analysts' expectations of $33.05 billion. During the same quarter in the previous year, the business posted $1.21 EPS. The company's quarterly revenue was up .6% on a year-over-year basis. As a group, sell-side analysts expect that Verizon Communications Inc. will post 4.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of VZ. Koesten Hirschmann & Crabtree INC. purchased a new stake in shares of Verizon Communications during the 1st quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC purchased a new stake in shares of Verizon Communications during the 4th quarter valued at about $29,000. Mizuho Securities Co. Ltd. purchased a new stake in shares of Verizon Communications during the 2nd quarter valued at about $32,000. MFA Wealth Advisors LLC purchased a new stake in shares of Verizon Communications during the 2nd quarter valued at about $33,000. Finally, Pittenger & Anderson Inc. increased its position in shares of Verizon Communications by 50.4% during the 1st quarter. Pittenger & Anderson Inc. now owns 883 shares of the cell phone carrier's stock valued at $37,000 after purchasing an additional 296 shares during the last quarter. Institutional investors own 62.06% of the company's stock.

Verizon Communications Company Profile

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).