Verizon Communications (NYSE:VZ) Price Target Raised to $55.00 at Tigress Financial

Verizon Communications (NYSE:VZ) had its price target raised by investment analysts at Tigress Financial from $52.00 to $55.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “buy” rating on the cell phone carrier’s stock. Tigress Financial’s price target suggests a potential upside of 22.99% from the stock’s current price.

A number of other equities research analysts also recently commented on VZ. KeyCorp dropped their price objective on shares of Verizon Communications from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Friday, September 6th. Scotiabank increased 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 report on Wednesday, July 10th. TD Cowen increased their price objective on shares of Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. Royal Bank of Canada increased their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Finally, Citigroup boosted their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Eight research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $46.26.

Verizon Communications Trading Down 0.4 %

VZ traded down $0.19 on Tuesday, hitting $44.72. The company had a trading volume of 4,145,167 shares, compared to its average volume of 18,783,621. The firm has a market cap of $188.24 billion, a P/E ratio of 16.69, a PEG ratio of 4.03 and a beta of 0.42. Verizon Communications has a 1 year low of $30.14 and a 1 year high of $45.36. The company’s fifty day moving average price is $41.88 and its 200 day moving average price is $40.99. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.15. The company had revenue of $32.80 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.21 earnings per share. As a group, equities analysts expect that Verizon Communications will post 4.58 earnings per share for the current year.

Institutional Trading of Verizon Communications

A number of institutional investors have recently bought and sold shares of the company. Koesten Hirschmann & Crabtree INC. acquired a new position in shares of Verizon Communications in the first quarter worth $25,000. Vermillion & White Wealth Management Group LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth $29,000. Mizuho Securities Co. Ltd. acquired a new position in shares of Verizon Communications in the second quarter worth $32,000. MFA Wealth Advisors LLC acquired a new position in shares of Verizon Communications in the second quarter worth $33,000. Finally, Vima LLC acquired a new position in shares of Verizon Communications in the fourth quarter worth $36,000. 62.06% of the stock is currently owned by hedge funds and other institutional investors.

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).