Verizon Communications (NYSE:VZ) Stock Rating Upgraded by TD Cowen

Verizon Communications (NYSE:VZ) was upgraded by TD Cowen to a “strong-buy” rating in a report issued on Wednesday,Zacks.com reports.

VZ has been the topic of a number of other research reports. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. UBS Group upped their target price on Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. Tigress Financial lifted their price target on Verizon Communications from $52.00 to $55.00 and gave the stock a “buy” rating in a research note on Tuesday, October 1st. Bank of America increased their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research note on Thursday, September 26th. Finally, KeyCorp cut shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and an average target price of $46.54.

Verizon Communications Price Performance

Shares of NYSE VZ opened at $38.32 on Wednesday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. Verizon Communications has a one year low of $37.58 and a one year high of $45.36. The firm has a market capitalization of $161.32 billion, a P/E ratio of 16.52, a PEG ratio of 3.17 and a beta of 0.46. The company’s fifty day moving average is $41.11 and its two-hundred day moving average is $41.73.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion for the quarter, compared to the consensus estimate of $33.42 billion. During the same quarter in the previous year, the firm earned $1.22 earnings per share. The firm’s revenue was up .9% on a year-over-year basis. Analysts forecast that Verizon Communications will post 4.6 EPS for the current fiscal year.

Institutional Investors Weigh In On Verizon Communications

Several hedge funds have recently modified their holdings of VZ. Charles Schwab Investment Management Inc. grew its stake in shares of Verizon Communications by 6.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 101,273,082 shares of the cell phone carrier’s stock valued at $4,548,163,000 after buying an additional 5,936,009 shares during the period. International Assets Investment Management LLC grew its holdings in shares of Verizon Communications by 4,520.3% during the 3rd quarter. International Assets Investment Management LLC now owns 4,815,534 shares of the cell phone carrier’s stock worth $216,266,000 after purchasing an additional 4,711,309 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Verizon Communications during the 3rd quarter worth approximately $177,799,000. Assenagon Asset Management S.A. raised its holdings in Verizon Communications by 184.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 5,428,540 shares of the cell phone carrier’s stock valued at $217,087,000 after buying an additional 3,519,258 shares during the period. Finally, Janus Henderson Group PLC lifted its position in Verizon Communications by 77.1% during the third quarter. Janus Henderson Group PLC now owns 6,101,616 shares of the cell phone carrier’s stock valued at $274,052,000 after buying an additional 2,656,396 shares in the last quarter. 62.06% of the stock is owned by institutional investors and hedge funds.

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).