Verizon Communications Target of Unusually Large Options Trading (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ) was the target of some unusual options trading on Tuesday. Stock traders purchased 65,886 call options on the company. This is an increase of approximately 45% compared to the average volume of 45,303 call options.

Verizon Communications Stock Down 3.5 %

Shares of VZ opened at $41.43 on Thursday. Verizon Communications has a fifty-two week low of $30.14 and a fifty-two week high of $43.42. The company’s fifty day moving average is $40.92 and its two-hundred day moving average is $40.52. The firm has a market cap of $174.39 billion, a PE ratio of 15.46, a price-to-earnings-growth ratio of 3.81 and a beta of 0.41. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15. The business had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The company’s revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company posted $1.21 EPS. Analysts forecast that Verizon Communications will post 4.57 earnings per share for the current year.

Analysts Set New Price Targets

VZ has been the topic of several recent analyst reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $42.00 target price on shares of Verizon Communications in a research report on Tuesday, July 23rd. Scotiabank raised their price objective on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research note on Wednesday, July 10th. JPMorgan Chase & Co. lowered their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Tigress Financial increased their target price on shares of Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a report on Friday, May 17th. Finally, TD Cowen boosted their price target on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $45.78.

Hedge Funds Weigh In On Verizon Communications

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Koesten Hirschmann & Crabtree INC. bought a new stake in Verizon Communications in the 1st quarter valued at about $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications during the fourth quarter worth approximately $29,000. Mizuho Securities Co. Ltd. bought a new position in Verizon Communications in the 2nd quarter worth approximately $32,000. MFA Wealth Advisors LLC acquired a new stake in Verizon Communications in the 2nd quarter valued at approximately $33,000. Finally, Vima LLC bought a new stake in Verizon Communications during the 4th quarter valued at $36,000. 62.06% of the stock is currently owned by institutional investors and hedge funds.

About Verizon Communications

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).