TheStreet restated their buy rating on shares of Verizon Communications (NYSE:VZ) in a report issued on Friday, Analyst Ratings Net reports.
“Verizon Communications (VZ) has been reiterated by TheStreet Ratings as a buy with a ratings score of A-. The company’s strengths can be seen in multiple areas, such as its revenue growth, increase in net income, good cash flow from operations, expanding profit margins and growth in earnings per share. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity.,” the firm’s analyst commented.
In other Verizon Communications news, EVP Randal Milch sold 2,823 shares of the company’s stock on the open market in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $50.35, for a total value of $142,138.05. Following the completion of the transaction, the executive vice president now directly owns 17,496 shares in the company, valued at approximately $880,924. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.
Other equities research analysts have also recently issued reports about the stock. Analysts at Zacks reiterated a neutral rating on shares of Verizon Communications in a research note to investors on Wednesday, November 6th. They now have a $53.00 price target on the stock. Separately, analysts at Cowen and Company raised their price target on shares of Verizon Communications from $49.00 to $50.00 in a research note to investors on Friday, October 18th. They now have a market perform rating on the stock. Finally, analysts at Wells Fargo & Co. reiterated an outperform rating on shares of Verizon Communications in a research note to investors on Friday, October 18th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Verizon Communications has a consensus rating of Buy and a consensus price target of $56.26.
Shares of Verizon Communications (NYSE:VZ) opened at 49.62 on Friday. Verizon Communications has a 52-week low of $41.50 and a 52-week high of $54.31. The stock’s 50-day moving average is $49.94 and its 200-day moving average is $49.41. The company has a market cap of $142.0 billion and a price-to-earnings ratio of 64.61.
Verizon Communications (NYSE:VZ) last released its earnings data on Thursday, October 17th. The company reported $0.77 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.75 by $0.02. The company had revenue of $30.28 billion for the quarter, compared to the consensus estimate of $30.17 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was up 4.4% on a year-over-year basis. Analysts expect that Verizon Communications will post $2.83 EPS for the current fiscal year.
Verizon Communications Inc (NYSE:VZ) is a holding company.
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