Verizon (NYSE: VZ)‘s stock had its “overweight” rating reiterated by investment analysts at Piper Jaffray in a note issued to investors on Friday. They currently have a $50.00 target price on the stock.
The analysts wrote, “Terremark is the crown jewel of Verizon’s datacenter and hosting strategy. Verizon has been quietly winning government contracts and expanding its footprint. What are Verizon’s plans for the future of its datacenter and hosting business? Where will Verizon expand next? We will have Chris Drumgoole, SVP of Global Operations for Verizon’s datacenter and hosting business on hand to answer these and other questions you may have. Our fireside chat will take place at 1 PM ET on March 12th.”
Verizon traded up 0.15% on Friday, hitting $46.60. Verizon has a 52-week low of $36.80 and a 52-week high of $48.77. The stock’s 50-day moving average is currently $43.99. The company has a market cap of $133.2 billion and a price-to-earnings ratio of 151.56.
Verizon last issued its quarterly earnings data on Tuesday, January 22nd. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.14. The company had revenue of $30.05 billion for the quarter, compared to the consensus estimate of $29.75 billion. During the same quarter in the prior year, the company posted $0.52 earnings per share. The company’s quarterly revenue was up 5.7% on a year-over-year basis. Analysts expect that Verizon will post $2.77 EPS for the current fiscal year.
VZ has been the subject of a number of other recent research reports. Analysts at TheStreet reiterated a “hold” rating on shares of Verizon in a research note to investors on Wednesday. Finally, analysts at Raymond James upgraded shares of Verizon from a “market perform” rating to an “outperform” rating in a research note to investors on Thursday, February 14th. They now have a $48.00 price target on the stock.
Thirteen equities research analysts have rated the stock with a buy rating, three have issued an overweight rating, and eighteen have assigned a hold rating to the company. The company presently has a consensus rating of “overweight” and a consensus price target of $47.78.
Verizon Communications Inc. (Verizon) is a holding company. The Company is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies.
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