Deutsche Bank Initiates Coverage on Verizon Communications (NYSE:VZ)

Deutsche Bank started coverage on shares of Verizon Communications (NYSE:VZ) in a research note published on Wednesday, Briefing.com Automated Import reports. The firm issued a hold rating and a $63.00 price objective on the cell phone carrier’s stock.

VZ has been the subject of several other reports. Zacks Investment Research cut Verizon Communications from a buy rating to a hold rating and set a $62.00 target price for the company. in a research report on Saturday, January 11th. Guggenheim raised their target price on Verizon Communications from $65.00 to $69.00 and gave the stock a buy rating in a research report on Monday, October 28th. HSBC cut Verizon Communications from a buy rating to a hold rating and set a $65.00 target price for the company. in a research report on Thursday, November 14th. Nomura cut Verizon Communications from a buy rating to a neutral rating and reduced their target price for the stock from $67.00 to $65.00 in a research report on Monday, November 4th. Finally, SunTrust Banks raised their target price on Verizon Communications from $61.00 to $68.00 and gave the stock a buy rating in a research report on Wednesday, October 9th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company currently has an average rating of Hold and a consensus price target of $63.41.

Shares of Verizon Communications stock opened at $60.28 on Wednesday. The company’s fifty day simple moving average is $60.63 and its 200-day simple moving average is $59.13. The company has a market cap of $250.26 billion, a price-to-earnings ratio of 15.50, a PEG ratio of 3.70 and a beta of 0.51. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications has a 1 year low of $52.28 and a 1 year high of $62.22.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, October 25th. The cell phone carrier reported $1.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.24 by $0.01. The business had revenue of $32.89 billion for the quarter, compared to the consensus estimate of $32.74 billion. Verizon Communications had a net margin of 12.26% and a return on equity of 34.50%. Verizon Communications’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter last year, the company posted $1.22 earnings per share. As a group, research analysts forecast that Verizon Communications will post 4.83 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be issued a dividend of $0.615 per share. The ex-dividend date of this dividend is Thursday, January 9th. This represents a $2.46 dividend on an annualized basis and a dividend yield of 4.08%. Verizon Communications’s payout ratio is presently 52.23%.

In other news, EVP Craig L. Silliman sold 1,346 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $59.55, for a total value of $80,154.30. Following the completion of the sale, the executive vice president now directly owns 18,637 shares in the company, valued at $1,109,833.35. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $60.42, for a total value of $81,506.58. Following the completion of the sale, the executive vice president now owns 19,983 shares of the company’s stock, valued at $1,207,372.86. The disclosure for this sale can be found here. 0.03% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the company. Kayne Anderson Rudnick Investment Management LLC acquired a new stake in Verizon Communications in the second quarter worth about $28,000. Lenox Wealth Advisors LLC acquired a new stake in Verizon Communications in the third quarter worth about $39,000. Advocacy Wealth Management Services LLC increased its position in Verizon Communications by 35.8% in the third quarter. Advocacy Wealth Management Services LLC now owns 687 shares of the cell phone carrier’s stock worth $41,000 after purchasing an additional 181 shares during the period. WealthStone Inc. acquired a new stake in Verizon Communications in the second quarter worth about $45,000. Finally, Fulcrum Equity Management acquired a new stake in Verizon Communications in the third quarter worth about $48,000. Institutional investors own 65.24% of the company’s stock.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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Analyst Recommendations for Verizon Communications (NYSE:VZ)

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