Verizon Communications (NYSE:VZ) Upgraded to Strong-Buy at Argus

Verizon Communications (NYSE:VZ) was upgraded by equities research analysts at Argus to a “strong-buy” rating in a report released on Monday,Zacks.com reports.

VZ has been the subject of a number of other research reports. Sanford C. Bernstein began coverage on shares of Verizon Communications in a research report on Tuesday, December 10th. They set a “market perform” rating and a $48.00 target price for the company. Scotiabank increased their price target on shares of Verizon Communications from $47.00 to $47.50 and gave the company a “sector perform” rating in a research note on Monday. UBS Group upped their price objective on Verizon Communications from $44.00 to $45.00 and gave the stock a “neutral” rating in a report on Friday, December 20th. StockNews.com downgraded Verizon Communications from a “strong-buy” rating to a “buy” rating in a report on Monday, December 16th. Finally, DZ Bank raised Verizon Communications from a “hold” rating to a “buy” rating and set a $40.00 price objective on the stock in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $46.08.

Verizon Communications Trading Down 0.4 %

NYSE:VZ opened at $40.25 on Monday. Verizon Communications has a 12 month low of $37.58 and a 12 month high of $45.36. The company’s 50 day moving average is $40.79 and its 200-day moving average is $41.61. The firm has a market cap of $169.43 billion, a price-to-earnings ratio of 17.35, a P/E/G ratio of 3.27 and a beta of 0.46. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32.

Verizon Communications (NYSE:VZ) last announced its earnings results on Friday, January 24th. The cell phone carrier reported $1.10 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.11 by ($0.01). Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. During the same quarter in the prior year, the business posted $1.08 EPS. Equities analysts anticipate that Verizon Communications will post 4.59 EPS for the current year.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now owns 45,675 shares in the company, valued at $1,851,664.50. This trade represents a 30.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds have recently modified their holdings of VZ. Capital Performance Advisors LLP acquired a new position in shares of Verizon Communications during the third quarter worth $31,000. Legend Financial Advisors Inc. increased its stake in Verizon Communications by 69.6% in the fourth quarter. Legend Financial Advisors Inc. now owns 780 shares of the cell phone carrier’s stock valued at $31,000 after purchasing an additional 320 shares in the last quarter. Compass Financial Services Inc bought a new stake in Verizon Communications in the fourth quarter valued at $33,000. Accordant Advisory Group Inc increased its stake in Verizon Communications by 137.6% in the third quarter. Accordant Advisory Group Inc now owns 777 shares of the cell phone carrier’s stock valued at $35,000 after purchasing an additional 450 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Verizon Communications during the fourth quarter worth about $38,000. 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).