Verizon Communications (NYSE:VZ) Stock Price Expected to Rise, Deutsche Bank Aktiengesellschaft Analyst Says

Verizon Communications (NYSE:VZ) had its price objective raised by Deutsche Bank Aktiengesellschaft from $40.00 to $42.00 in a report released on Friday. The brokerage currently has a “hold” rating on the cell phone carrier’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 5.85% from the company’s current price.

Several other brokerages have also recently weighed in on VZ. Bank of America boosted their price target on shares of Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a research report on Thursday, September 26th. KeyCorp cut Verizon Communications from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 24th. Wolfe Research lifted their price objective on shares of Verizon Communications from $50.00 to $51.00 and gave the stock an “overweight” rating in a research report on Friday. Scotiabank upped their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Finally, StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Eleven investment analysts have rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $46.33.

Verizon Communications Trading Up 1.3 %

Shares of VZ stock traded up $0.50 during mid-day trading on Friday, reaching $39.68. The stock had a trading volume of 17,049,790 shares, compared to its average volume of 23,784,742. The firm has a market capitalization of $167.03 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 3.27 and a beta of 0.46. Verizon Communications has a 52-week low of $37.58 and a 52-week high of $45.36. The stock’s 50-day moving average price is $40.89 and its two-hundred day moving average price is $41.63. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last released 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 7.30% and a return on equity of 20.05%. During the same quarter in the prior year, the business posted $1.08 EPS. Equities analysts expect that Verizon Communications will post 4.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verizon Communications

Institutional investors and hedge funds have recently bought and sold shares of the stock. Capital Performance Advisors LLP purchased a new position in Verizon Communications in the third quarter worth about $31,000. Legend Financial Advisors Inc. increased its holdings in shares of Verizon Communications by 69.6% in the fourth 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 during the last quarter. Accordant Advisory Group Inc boosted its position 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 valued at $35,000 after acquiring an additional 450 shares during the last quarter. Cedar Mountain Advisors LLC grew its position in Verizon Communications by 655.5% in the fourth quarter. Cedar Mountain Advisors LLC now owns 967 shares of the cell phone carrier’s stock worth $39,000 after acquiring an additional 839 shares in the last quarter. Finally, MidAtlantic Capital Management Inc. bought a new stake in shares of Verizon Communications in the 3rd quarter worth about $44,000. 62.06% of the stock is currently owned by 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).