Verizon Communications (NYSE:VZ) Cut to “Buy” at StockNews.com

Verizon Communications (NYSE:VZ) was downgraded by stock analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a note issued to investors on Monday.

A number of other research firms have also recently commented on VZ. Scotiabank lifted their target price on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. UBS Group lifted their price objective on shares of Verizon Communications from $43.00 to $44.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. KeyCorp downgraded Verizon Communications from an “overweight” rating to a “sector weight” rating in a research report on Thursday, October 24th. Royal Bank of Canada lifted their price target on Verizon Communications from $42.00 to $46.00 and gave the stock a “sector perform” rating in a research report on Monday, September 23rd. Finally, Bank of America increased their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Verizon Communications has a consensus rating of “Hold” and a consensus target price of $46.46.

Verizon Communications Stock Up 0.5 %

Shares of Verizon Communications stock opened at $42.28 on Monday. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The company has a market cap of $177.98 billion, a P/E ratio of 18.22, a PEG ratio of 3.05 and a beta of 0.44. The firm’s 50 day moving average price is $42.49 and its 200-day moving average price is $41.91. Verizon Communications has a 52-week low of $37.14 and a 52-week high of $45.36.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The business had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. On average, sell-side analysts predict that Verizon Communications will post 4.61 EPS for the current fiscal year.

Institutional Trading of Verizon Communications

Institutional investors have recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Verizon Communications in the third quarter valued at approximately $31,000. Mizuho Securities Co. Ltd. acquired a new stake in Verizon Communications during the second quarter worth about $32,000. MFA Wealth Advisors LLC purchased a new position in Verizon Communications during the second quarter worth about $33,000. Accordant Advisory Group Inc increased its holdings in shares of Verizon Communications by 137.6% during the 3rd quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock worth $35,000 after buying an additional 450 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. acquired a new position in Verizon Communications in the third quarter valued at approximately $44,000. 62.06% of the stock is 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).