Deutsche Bank Aktiengesellschaft Raises Verizon Communications (NYSE:VZ) Price Target to $42.00

Verizon Communications (NYSE:VZ) had its target price hoisted by stock analysts at Deutsche Bank Aktiengesellschaft from $40.00 to $42.00 in a research report issued on Friday. The brokerage currently has a “hold” rating on the cell phone carrier’s stock. Deutsche Bank Aktiengesellschaft’s target price suggests a potential upside of 6.23% from the company’s current price.

A number of other equities research analysts have also issued reports on VZ. Tigress Financial upped their target price on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. UBS Group upped their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the company a “neutral” rating in a report on Friday, December 20th. KeyCorp downgraded shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. Sanford C. Bernstein started coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 target price on the stock. Finally, Royal Bank of Canada cut their price target on Verizon Communications from $46.00 to $42.00 in a report on Friday. Eleven research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $46.29.

Verizon Communications Trading Up 0.9 %

Shares of VZ stock opened at $39.54 on Friday. The company has a debt-to-equity ratio of 1.32, a quick ratio of 0.62 and a current ratio of 0.66. The stock has a market capitalization of $166.43 billion, a P/E ratio of 17.04, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. The company has a 50 day moving average price of $40.85 and a 200 day moving average price of $41.61. Verizon Communications has a fifty-two week low of $37.58 and a fifty-two week high of $45.36.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. During the same period last year, the company earned $1.08 earnings per share. Equities research analysts predict that Verizon Communications will post 4.59 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of VZ. Capital Performance Advisors LLP acquired a new stake in shares of Verizon Communications in the third quarter worth $31,000. Legend Financial Advisors Inc. boosted its holdings in Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares during the period. 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 purchasing an additional 450 shares during the period. Cedar Mountain Advisors LLC raised its position in shares of Verizon Communications by 655.5% during the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock valued at $39,000 after buying an additional 839 shares during the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications during the third quarter valued at approximately $44,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).