Oppenheimer Reiterates “Outperform” Rating for Verizon Communications (NYSE:VZ)

Verizon Communications (NYSE:VZ)‘s stock had its “outperform” rating restated by equities research analysts at Oppenheimer in a note issued to investors on Tuesday, Benzinga reports. They presently have a $48.00 price objective on the cell phone carrier’s stock. Oppenheimer’s target price would indicate a potential upside of 21.55% from the company’s current price.

VZ has been the topic of a number of other research reports. Wells Fargo & Company boosted their price objective on Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 24th. Tigress Financial boosted their price objective on Verizon Communications from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Thursday, January 25th. Raymond James boosted their price objective on Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research note on Wednesday, January 24th. UBS Group boosted their price objective on Verizon Communications from $37.00 to $43.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 24th. Finally, Barclays upped their price target on Verizon Communications from $42.00 to $44.00 and gave the company an “equal weight” rating in a research note on Friday, January 26th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, Verizon Communications currently has an average rating of “Moderate Buy” and an average price target of $44.21.

Verizon Communications Stock Performance

VZ opened at $39.49 on Tuesday. The stock has a market cap of $166.03 billion, a PE ratio of 14.74, a P/E/G ratio of 3.14 and a beta of 0.41. The company has a current ratio of 0.71, a quick ratio of 0.65 and a debt-to-equity ratio of 1.42. Verizon Communications has a 1 year low of $30.14 and a 1 year high of $43.42. The stock’s 50 day simple moving average is $40.51 and its 200-day simple moving average is $38.45.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The firm had revenue of $33 billion for the quarter, compared to analysts’ expectations of $33.23 billion. During the same period in the prior year, the business posted $1.20 earnings per share. The business’s revenue was up .3% compared to the same quarter last year. Sell-side analysts forecast 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 24,000 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $40.80, for a total value of $979,200.00. Following the transaction, the chief executive officer now owns 35,201 shares of the company’s stock, valued at $1,436,200.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.03% of the company’s stock.

Institutional Investors Weigh In On Verizon Communications

Large investors have recently modified their holdings of the business. LFA Lugano Financial Advisors SA increased its holdings in shares of Verizon Communications by 627.8% in the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock worth $25,000 after acquiring an additional 565 shares in the last quarter. Criterion Capital Advisors LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth about $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Verizon Communications in the fourth quarter worth about $29,000. Morton Brown Family Wealth LLC grew its holdings in shares of Verizon Communications by 130.1% during the fourth quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after buying an additional 488 shares in the last quarter. Finally, Vima LLC bought a new position in shares of Verizon Communications during the fourth quarter worth about $36,000. 62.06% of the stock is currently owned by institutional investors.

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).