Verizon Communications (NYSE:VZ) Downgraded to Buy Rating by StockNews.com

Verizon Communications (NYSE:VZ) was downgraded by equities research analysts at StockNews.com from a “strong-buy” rating to a “buy” rating in a report released on Thursday.

VZ has been the topic of several other reports. DZ Bank upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Wednesday, January 29th. Tigress Financial restated a “buy” rating and set a $55.00 target price on shares of Verizon Communications in a research report on Thursday, January 30th. UBS Group boosted their target price on shares of Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a research report on Friday, December 20th. TD Cowen upgraded shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday, January 15th. Finally, Royal Bank of Canada decreased their price objective on shares of Verizon Communications from $46.00 to $42.00 in a research report on Friday, January 24th. Eleven research analysts have rated the stock with a hold rating, seven have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Verizon Communications has a consensus rating of “Moderate Buy” and an average target price of $46.11.

Verizon Communications Stock Performance

Shares of VZ opened at $42.63 on Thursday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.59 and a current ratio of 0.63. The stock has a market capitalization of $179.44 billion, a P/E ratio of 10.30, a P/E/G ratio of 4.45 and a beta of 0.41. The company’s fifty day moving average is $40.87 and its two-hundred day moving average is $41.90. Verizon Communications has a 1 year low of $37.59 and a 1 year high of $47.36.

Verizon Communications (NYSE:VZ) last issued its earnings results 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 return on equity of 19.80% and a net margin of 12.99%. During the same quarter in the previous year, the business earned $1.08 EPS. On average, sell-side analysts predict that Verizon Communications will post 4.69 earnings per share for the current year.

Insider Activity

In other news, EVP Vandana Venkatesh sold 10,000 shares of the company’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total transaction of $437,900.00. Following the completion of the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at $633,159.61. This represents a 40.88 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Kyle Malady sold 8,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $39.88, for a total transaction of $319,040.00. Following the transaction, the chief executive officer now directly owns 6,590 shares of the company’s stock, valued at approximately $262,809.20. This represents a 54.83 % decrease in their position. 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 in the last 90 days. 0.02% of the stock is currently owned by insiders.

Institutional Trading of Verizon Communications

Institutional investors and hedge funds have recently bought and sold shares of the business. Mainstream Capital Management LLC acquired a new stake in Verizon Communications during the 4th quarter worth approximately $28,000. Legend Financial Advisors Inc. increased its position in Verizon Communications by 69.6% during the 4th quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock worth $31,000 after purchasing an additional 320 shares in the last quarter. Mattson Financial Services LLC grew its position in Verizon Communications by 114.6% in the fourth quarter. Mattson Financial Services LLC now owns 777 shares of the cell phone carrier’s stock valued at $31,000 after acquiring an additional 415 shares in the last quarter. Graney & King LLC acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $32,000. Finally, Capital A Wealth Management LLC acquired a new stake in Verizon Communications in the fourth quarter valued at approximately $32,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

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).