KeyCorp Reiterates “Hold” Rating for Verizon Communications Inc. (VZ)
Verizon Communications Inc. (NYSE:VZ)‘s stock had its “hold” rating reissued by research analysts at KeyCorp in a report issued on Saturday. KeyCorp also issued estimates for Verizon Communications’ Q1 2018 earnings at $1.01 EPS, Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.04 EPS, Q4 2018 earnings at $0.97 EPS and FY2018 earnings at $4.03 EPS.
A number of other equities research analysts have also commented on VZ. Vetr lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and set a $47.44 price objective on the stock. in a report on Tuesday, June 27th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Wells Fargo & Company reissued a “market perform” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and set a $50.00 price objective on shares of Verizon Communications in a report on Monday, July 3rd. Finally, Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a report on Friday, July 7th. Two research analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $53.10.
Shares of Verizon Communications (VZ) opened at 49.53 on Friday. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.83. The stock has a 50 day moving average of $48.52 and a 200-day moving average of $47.03. The firm has a market capitalization of $202.05 billion, a price-to-earnings ratio of 12.73 and a beta of 0.56.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting analysts’ consensus estimates of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the prior year, the firm earned $1.01 EPS. The company’s revenue was up 2.5% on a year-over-year basis. Analysts expect that Verizon Communications will post $3.76 earnings per share for the current year.
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In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the transaction, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at $350,717.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 1,830 shares of company stock worth $88,828 over the last quarter. 0.13% of the stock is owned by corporate insiders.
Large investors have recently added to or reduced their stakes in the stock. Allegis Investment Advisors LLC grew its stake in shares of Verizon Communications by 9.0% in the first quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock valued at $2,880,000 after buying an additional 4,898 shares in the last quarter. Excalibur Management Corp grew its stake in shares of Verizon Communications by 5.7% in the first quarter. Excalibur Management Corp now owns 123,976 shares of the cell phone carrier’s stock valued at $6,044,000 after buying an additional 6,723 shares in the last quarter. Segantii Capital Management Ltd bought a new position in shares of Verizon Communications in the first quarter valued at $6,094,000. Cascade Investment Advisors Inc. grew its stake in shares of Verizon Communications by 0.4% in the first quarter. Cascade Investment Advisors Inc. now owns 33,945 shares of the cell phone carrier’s stock valued at $1,655,000 after buying an additional 125 shares in the last quarter. Finally, Carret Asset Management LLC grew its stake in shares of Verizon Communications by 1.5% in the first quarter. Carret Asset Management LLC now owns 177,172 shares of the cell phone carrier’s stock valued at $8,637,000 after buying an additional 2,606 shares in the last quarter. 62.22% of the stock is owned by institutional investors and hedge funds.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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