Verizon Communications (NYSE:VZ) Stock Price Expected to Rise, Oppenheimer Analyst Says

Verizon Communications (NYSE:VZ) had its price target hoisted by Oppenheimer from $48.00 to $50.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an “outperform” rating on the cell phone carrier’s stock. Oppenheimer’s price target would suggest a potential upside of 10.49% from the stock’s previous close.

Several other equities analysts have also issued reports on VZ. Scotiabank lifted their target price on shares of Verizon Communications from $47.50 to $48.00 and gave the company a “sector perform” rating in a report on Monday, March 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $45.00 target price (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Tigress Financial reissued a “buy” rating and issued a $55.00 target price on shares of Verizon Communications in a research note on Thursday, January 30th. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Verizon Communications from $40.00 to $42.00 and gave the company a “hold” rating in a research report on Friday, January 24th. Ten research analysts have rated the stock with a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $46.82.

Verizon Communications Stock Down 0.2 %

Shares of NYSE:VZ traded down $0.11 during trading on Tuesday, hitting $45.26. The stock had a trading volume of 6,659,381 shares, compared to its average volume of 19,492,780. The company has a market capitalization of $190.51 billion, a PE ratio of 10.93, a PEG ratio of 4.45 and a beta of 0.41. The company has a quick ratio of 0.59, a current ratio of 0.63 and a debt-to-equity ratio of 1.21. The firm’s fifty day moving average is $42.24 and its 200 day moving average is $42.08. Verizon Communications has a 12 month low of $37.59 and a 12 month high of $47.36.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, January 24th. The cell phone carrier reported $1.10 EPS for the quarter, missing the consensus estimate of $1.11 by ($0.01). Verizon Communications had a net margin of 12.99% and a return on equity of 19.80%. During the same period in the previous year, the business posted $1.08 EPS. Analysts anticipate that Verizon Communications will post 4.69 EPS for the current fiscal year.

Insider Transactions at Verizon Communications

In other news, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $39.88, for a total value of $319,040.00. Following the completion of the transaction, the chief executive officer now owns 6,590 shares of the company’s stock, valued at $262,809.20. This represents a 54.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Vandana Venkatesh sold 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 25th. The stock was sold at an average price of $43.79, for a total value of $437,900.00. Following the completion of the transaction, the executive vice president now directly owns 14,459 shares in the company, valued at approximately $633,159.61. This represents a 40.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,085 shares of company stock valued at $2,020,895 over the last three months. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Several hedge funds have recently bought and sold shares of VZ. NCM Capital Management LLC grew its holdings in Verizon Communications by 1.4% during the 4th quarter. NCM Capital Management LLC now owns 18,390 shares of the cell phone carrier’s stock valued at $735,000 after buying an additional 245 shares in the last quarter. Kirtland Hills Capital Management LLC grew its holdings in shares of Verizon Communications by 2.4% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 10,968 shares of the cell phone carrier’s stock valued at $439,000 after purchasing an additional 252 shares in the last quarter. First Dallas Securities Inc. increased its position in Verizon Communications by 0.8% in the third quarter. First Dallas Securities Inc. now owns 31,728 shares of the cell phone carrier’s stock worth $1,425,000 after purchasing an additional 257 shares during the last quarter. JB Capital LLC raised its stake in Verizon Communications by 1.3% during the fourth quarter. JB Capital LLC now owns 20,816 shares of the cell phone carrier’s stock valued at $832,000 after purchasing an additional 258 shares in the last quarter. Finally, Curbstone Financial Management Corp lifted its position in Verizon Communications by 0.8% during the fourth quarter. Curbstone Financial Management Corp now owns 34,786 shares of the cell phone carrier’s stock valued at $1,391,000 after purchasing an additional 262 shares during the last quarter. Hedge funds and other institutional investors 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).