Verizon Communications (NYSE:VZ) Stock Price Expected to Rise, Scotiabank Analyst Says

Verizon Communications (NYSE:VZ - Get Free Report) had its price objective lifted by research analysts at Scotiabank from $48.50 to $49.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a "sector perform" rating on the cell phone carrier's stock. Scotiabank's target price suggests a potential upside of 14.92% from the stock's current price.

Other analysts have also recently issued reports about the company. StockNews.com cut Verizon Communications from a "strong-buy" rating to a "buy" rating in a research report on Thursday, March 13th. DZ Bank raised shares of Verizon Communications from a "hold" rating to a "buy" rating and set a $40.00 price objective on the stock in a research report on Wednesday, January 29th. Oppenheimer lifted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday, April 1st. Argus upgraded Verizon Communications to a "strong-buy" rating in a report on Monday, January 27th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $45.00 price target (up previously from $42.00) on shares of Verizon Communications in a research report on Tuesday, March 25th. Ten investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Verizon Communications has a consensus rating of "Moderate Buy" and a consensus price target of $46.94.

Verizon Communications Stock Down 1.3 %

Shares of NYSE VZ traded down $0.55 during mid-day trading on Wednesday, reaching $42.64. 9,019,233 shares of the company's stock traded hands, compared to its average volume of 25,673,105. Verizon Communications has a 1-year low of $37.58 and a 1-year high of $47.35. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. The business has a 50-day simple moving average of $43.56 and a 200 day simple moving average of $41.99. The stock has a market cap of $179.50 billion, a P/E ratio of 10.30, a PEG ratio of 4.45 and a beta of 0.41.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.15 by $0.04. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%. The company had revenue of $33.50 billion during the quarter, compared to analyst estimates of $33.31 billion. On average, analysts expect that Verizon Communications will post 4.69 EPS for the current fiscal year.

Insider Activity at Verizon Communications

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the sale, the executive vice president now owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Kyle Malady sold 8,000 shares of Verizon Communications stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the transaction, the chief executive officer now directly owns 6,590 shares in the company, valued at approximately $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 over the last quarter. 0.10% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of VZ. Bernard Wealth Management Corp. increased its holdings in Verizon Communications by 81.0% during the first quarter. Bernard Wealth Management Corp. now owns 543 shares of the cell phone carrier's stock worth $25,000 after buying an additional 243 shares during the last quarter. Garde Capital Inc. bought a new stake in shares of Verizon Communications in the first quarter valued at about $26,000. Cherry Tree Wealth Management LLC lifted its position in Verizon Communications by 71.8% during the first quarter. Cherry Tree Wealth Management LLC now owns 584 shares of the cell phone carrier's stock worth $26,000 after purchasing an additional 244 shares during the period. Mainstream Capital Management LLC bought a new stake in Verizon Communications during the fourth quarter worth about $28,000. Finally, EQ Wealth Advisors LLC acquired a new position in Verizon Communications during the first quarter worth about $32,000. 62.06% of the stock is owned by institutional investors and hedge funds.

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).

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