Verizon Communications (NYSE:VZ – Get Free Report) had its price objective upped by analysts at Bank of America from $41.00 to $45.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the cell phone carrier’s stock. Bank of America‘s price target would indicate a potential upside of 0.33% from the stock’s previous close.
Several other equities analysts have also commented on the company. Royal Bank of Canada upped their price target on Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research note on Monday. Scotiabank upped their target price on shares of Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Citigroup increased their target price on shares of Verizon Communications from $47.00 to $49.00 and gave the stock a “buy” rating in a research note on Wednesday. The Goldman Sachs Group initiated coverage on shares of Verizon Communications in a research note on Monday, July 1st. They issued a “buy” rating and a $50.00 price target on the stock. Finally, TD Cowen increased their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Eight equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $46.09.
View Our Latest Stock Analysis on Verizon Communications
Verizon Communications Trading Up 0.7 %
Verizon Communications (NYSE:VZ – Get Free Report) last posted its quarterly earnings results 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 during the quarter, compared to analysts’ expectations of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.21 EPS. As a group, analysts anticipate that Verizon Communications will post 4.58 EPS for the current year.
Institutional Trading of Verizon Communications
Hedge funds have recently added to or reduced their stakes in the company. Koesten Hirschmann & Crabtree INC. acquired a new stake in shares of Verizon Communications in the 1st quarter valued at $25,000. Vermillion & White Wealth Management Group LLC purchased a new position in Verizon Communications in the fourth quarter valued at $29,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications in the second quarter valued at $32,000. MFA Wealth Advisors LLC purchased a new stake in Verizon Communications during the 2nd quarter worth about $33,000. Finally, Vima LLC acquired a new position in shares of Verizon Communications during the 4th quarter worth about $36,000. Institutional investors and hedge funds 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).
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