Verizon Communications (NYSE:VZ) Raised to “Outperform” at Evercore ISI

Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at Evercore ISI from an “in-line” rating to an “outperform” rating in a report issued on Friday, MarketBeat Ratings reports. The brokerage currently has a $48.00 target price on the cell phone carrier’s stock. Evercore ISI’s target price would suggest a potential upside of 9.89% from the stock’s previous close.

Other equities research analysts have also issued research reports about the company. StockNews.com lowered Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective for the company in a research note on Wednesday, January 29th. Scotiabank lifted their target price on shares of Verizon Communications from $48.00 to $48.50 and gave the stock a “sector perform” rating in a research report on Tuesday, April 8th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, UBS Group lifted their price target on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. Ten equities research analysts have rated the stock with a hold rating, eight have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $46.92.

Verizon Communications Stock Performance

Verizon Communications stock opened at $43.68 on Friday. 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 stock has a market cap of $183.88 billion, a PE ratio of 10.55, a P/E/G ratio of 4.45 and a beta of 0.41. Verizon Communications has a 12-month low of $37.59 and a 12-month high of $47.36. The business’s 50-day moving average price is $43.06 and its two-hundred day moving average price is $42.04.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (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 quarter in the prior year, the business earned $1.08 EPS. As a group, analysts expect that Verizon Communications will post 4.69 earnings per share for the current fiscal year.

Insider Activity at Verizon Communications

In related news, CEO Kyle Malady sold 11,085 shares of the business’s stock in a transaction dated Wednesday, January 29th. The stock was sold at an average price of $40.88, for a total value of $453,154.80. Following the completion of the sale, the chief executive officer now directly owns 14,590 shares of the company’s stock, valued at $596,439.20. The trade was a 43.17 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Vandana Venkatesh sold 10,000 shares of the 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 owns 14,459 shares in the company, valued at approximately $633,159.61. The trade was a 40.88 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,085 shares of company stock worth $2,020,895 in the last quarter. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

A number of institutional investors have recently modified their holdings of VZ. Mainstream Capital Management LLC acquired a new position in Verizon Communications during the fourth quarter worth $28,000. Legend Financial Advisors Inc. raised its holdings in shares of Verizon Communications by 69.6% in the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 320 shares during the last quarter. Mattson Financial Services LLC raised its holdings in shares of Verizon Communications by 114.6% in the 4th quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock worth $31,000 after acquiring an additional 415 shares during the last quarter. Graney & King LLC bought a new position in Verizon Communications in the 4th quarter valued at about $32,000. Finally, Capital A Wealth Management LLC acquired a new position in Verizon Communications during the 4th quarter valued at about $32,000. 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).