Vetr upgraded shares of Verizon Communications (NYSE:VZ) from a hold rating to a buy rating in a research report released on Monday. The brokerage currently has $54.80 price objective on the cell phone carrier’s stock.

Several other equities analysts also recently issued reports on the stock. Nomura raised their price target on shares of Verizon Communications from $61.00 to $63.00 and gave the company a buy rating in a research note on Wednesday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Verizon Communications from $52.00 to $58.00 and gave the company a neutral rating in a research note on Wednesday, January 24th. Bank of America raised their price target on shares of Verizon Communications from $55.00 to $58.00 and gave the company a buy rating in a research note on Wednesday, January 24th. SunTrust Banks raised their price target on shares of Verizon Communications to $58.00 and gave the company a hold rating in a research note on Wednesday, January 24th. Finally, Macquarie reaffirmed a hold rating and set a $54.00 price target on shares of Verizon Communications in a research note on Wednesday, January 24th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $53.37.

Verizon Communications (NYSE:VZ) opened at $51.01 on Monday. The company has a market cap of $208,090.00, a P/E ratio of 6.93, a P/E/G ratio of 2.06 and a beta of 0.58. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.77.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $0.86 EPS. equities analysts expect that Verizon Communications will post 4.54 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.63%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s payout ratio is 32.07%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total value of $28,920.10. Following the completion of the sale, the executive vice president now directly owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.

Large investors have recently bought and sold shares of the business. Farmers & Merchants Trust Co of Chambersburg PA grew its holdings in shares of Verizon Communications by 3.9% during the second quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 61,208 shares of the cell phone carrier’s stock valued at $2,734,000 after buying an additional 2,300 shares during the last quarter. OLD National Bancorp IN lifted its position in shares of Verizon Communications by 0.9% during the second quarter. OLD National Bancorp IN now owns 135,449 shares of the cell phone carrier’s stock valued at $6,049,000 after purchasing an additional 1,265 shares in the last quarter. LVM Capital Management Ltd. MI lifted its position in shares of Verizon Communications by 1.5% during the second quarter. LVM Capital Management Ltd. MI now owns 197,267 shares of the cell phone carrier’s stock valued at $8,810,000 after purchasing an additional 2,970 shares in the last quarter. Camarda Financial Advisors LLC lifted its position in shares of Verizon Communications by 11.3% during the second quarter. Camarda Financial Advisors LLC now owns 3,749 shares of the cell phone carrier’s stock valued at $167,000 after purchasing an additional 382 shares in the last quarter. Finally, Vigilant Capital Management LLC lifted its position in shares of Verizon Communications by 3.8% during the second quarter. Vigilant Capital Management LLC now owns 184,711 shares of the cell phone carrier’s stock valued at $8,249,000 after purchasing an additional 6,775 shares in the last quarter. Institutional investors and hedge funds own 63.26% of the company’s stock.

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Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

To view Vetr’s full report, visit Vetr’s official website.

Analyst Recommendations for Verizon Communications (NYSE:VZ)

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