Verizon Communications (NYSE:VZ) Rating Reiterated by Royal Bank of Canada

Verizon Communications (NYSE:VZ)‘s stock had its “sector perform” rating restated by Royal Bank of Canada in a research note issued on Tuesday, Benzinga reports. They presently have a $42.00 price target on the cell phone carrier’s stock. Royal Bank of Canada’s target price would suggest a potential upside of 5.87% from the stock’s previous close.

A number of other analysts have also issued reports on the company. Scotiabank boosted their target price on Verizon Communications from $45.50 to $46.50 and gave the company a “sector perform” rating in a research report on Wednesday, July 10th. Oppenheimer reissued an “outperform” rating and issued a $48.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Tigress Financial boosted their target price on Verizon Communications from $50.00 to $52.00 and gave the company a “buy” rating in a research report on Friday, May 17th. The Goldman Sachs Group began 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 for the company. Finally, StockNews.com upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a research note on Saturday, May 4th. Seven analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Verizon Communications currently has a consensus rating of “Moderate Buy” and an average price target of $45.68.

Verizon Communications Stock Up 2.0 %

VZ stock opened at $39.67 on Tuesday. The company has a market cap of $166.98 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 3.56 and a beta of 0.41. The company has a current ratio of 0.63, a quick ratio of 0.67 and a debt-to-equity ratio of 1.29. Verizon Communications has a 12 month low of $30.14 and a 12 month high of $43.42. The firm has a 50-day moving average of $40.58 and a two-hundred day moving average of $40.43.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15. The firm 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 quarter in the previous year, the company earned $1.21 EPS. As a group, analysts forecast that Verizon Communications will post 4.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Verizon Communications

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Alliance Wealth Advisors LLC lifted its stake in shares of Verizon Communications by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 17,760 shares of the cell phone carrier’s stock worth $732,000 after buying an additional 241 shares during the last quarter. Sawgrass Asset Management LLC raised its stake in Verizon Communications by 1.2% during the 2nd quarter. Sawgrass Asset Management LLC now owns 21,568 shares of the cell phone carrier’s stock valued at $889,000 after purchasing an additional 250 shares during the last quarter. Fermata Advisors LLC raised its stake in Verizon Communications by 5.0% during the 2nd quarter. Fermata Advisors LLC now owns 5,383 shares of the cell phone carrier’s stock valued at $222,000 after purchasing an additional 254 shares during the last quarter. Private Portfolio Partners LLC raised its stake in Verizon Communications by 0.9% during the 4th quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier’s stock valued at $1,035,000 after purchasing an additional 255 shares during the last quarter. Finally, BKM Wealth Management LLC raised its stake in Verizon Communications by 7.4% during the 1st quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier’s stock valued at $156,000 after purchasing an additional 257 shares during the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).