Oppenheimer Reaffirms “Outperform” Rating for Verizon Communications (NYSE:VZ)

Verizon Communications (NYSE:VZGet Free Report)‘s stock had its “outperform” rating reissued by analysts at Oppenheimer in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $48.00 price objective on the cell phone carrier’s stock. Oppenheimer’s price target indicates a potential upside of 12.44% from the stock’s current price.

A number of other brokerages also recently commented on VZ. KeyCorp upped their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 24th. Citigroup upped their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, January 30th. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Tigress Financial upped their price target on shares of Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Finally, Wells Fargo & Company increased their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.50.

Read Our Latest Stock Analysis on VZ

Verizon Communications Stock Up 0.4 %

NYSE VZ traded up $0.15 on Wednesday, hitting $42.69. 2,540,003 shares of the stock were exchanged, compared to its average volume of 19,932,098. The company has a market cap of $179.48 billion, a PE ratio of 15.46, a PEG ratio of 3.43 and a beta of 0.41. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. Verizon Communications has a fifty-two week low of $30.14 and a fifty-two week high of $43.21. The company has a 50-day moving average price of $40.74 and a 200-day moving average price of $37.60.

Verizon Communications (NYSE:VZGet Free Report) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter in the previous year, the firm earned $1.19 EPS. The company’s revenue was down .6% compared to the same quarter last year. Sell-side analysts anticipate that Verizon Communications will post 4.61 EPS for the current fiscal year.

Insider Transactions at Verizon Communications

In other Verizon Communications 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 completion of the transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently modified their holdings of VZ. Heartwood Wealth Advisors LLC lifted its stake in Verizon Communications by 6.9% during the first quarter. Heartwood Wealth Advisors LLC now owns 21,927 shares of the cell phone carrier’s stock valued at $920,000 after buying an additional 1,416 shares in the last quarter. ST Germain D J Co. Inc. increased its position in Verizon Communications by 1.8% during the first quarter. ST Germain D J Co. Inc. now owns 362,266 shares of the cell phone carrier’s stock worth $15,201,000 after buying an additional 6,385 shares during the last quarter. Symmetry Partners LLC increased its position in Verizon Communications by 31.8% during the first quarter. Symmetry Partners LLC now owns 66,939 shares of the cell phone carrier’s stock worth $2,809,000 after buying an additional 16,143 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in Verizon Communications during the fourth quarter worth $112,000. Finally, HighPoint Advisor Group LLC bought a new stake in Verizon Communications during the fourth quarter valued at about $6,136,000. 62.06% of the stock is currently owned by institutional investors.

Verizon Communications Company Profile

(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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