UBS Group Boosts Verizon Communications (NYSE:VZ) Price Target to $44.00

Verizon Communications (NYSE:VZ) had its target price raised by equities research analysts at UBS Group from $43.00 to $44.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the cell phone carrier’s stock. UBS Group’s price target would indicate a potential upside of 5.12% from the company’s current price.

Other research analysts have also issued reports about the company. TD Cowen raised their target price on Verizon Communications from $48.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. Scotiabank lifted their price objective on Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research note on Friday, October 18th. Bank of America upped their target price on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Raymond James raised their price target on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, September 24th. Finally, Tigress Financial upped their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, October 1st. Nine research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of “Moderate Buy” and an average price target of $46.37.

Verizon Communications Stock Performance

NYSE:VZ opened at $41.86 on Wednesday. The stock’s 50-day moving average is $43.05 and its 200-day moving average is $41.29. Verizon Communications has a 1-year low of $33.34 and a 1-year high of $45.36. The company has a current ratio of 0.63, a quick ratio of 0.60 and a debt-to-equity ratio of 1.29. The stock has a market cap of $176.18 billion, a P/E ratio of 15.62, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The company’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.22 EPS. Equities research analysts anticipate that Verizon Communications will post 4.58 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of VZ. Sovereign Financial Group Inc. raised its position in Verizon Communications by 43.3% in the 1st quarter. Sovereign Financial Group Inc. now owns 11,628 shares of the cell phone carrier’s stock valued at $488,000 after buying an additional 3,515 shares during the last quarter. DGS Capital Management LLC lifted its position in shares of Verizon Communications by 41.7% during the first quarter. DGS Capital Management LLC now owns 16,293 shares of the cell phone carrier’s stock valued at $684,000 after purchasing an additional 4,797 shares in the last quarter. Wealthcare Advisory Partners LLC boosted its holdings in Verizon Communications by 5.5% during the first quarter. Wealthcare Advisory Partners LLC now owns 86,369 shares of the cell phone carrier’s stock worth $3,624,000 after purchasing an additional 4,506 shares during the last quarter. ERn Financial LLC grew its position in Verizon Communications by 7.3% in the 1st quarter. ERn Financial LLC now owns 7,787 shares of the cell phone carrier’s stock worth $327,000 after purchasing an additional 528 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC grew its position in Verizon Communications by 7.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 793,595 shares of the cell phone carrier’s stock worth $33,299,000 after purchasing an additional 54,635 shares in the last quarter. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

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).