Verizon Communications (VZ) Lowered to Equal Weight at Barclays
Barclays lowered shares of Verizon Communications (NYSE:VZ) from an overweight rating to an equal weight rating in a report published on Tuesday, Marketbeat Ratings reports. Barclays currently has $50.00 price objective on the cell phone carrier’s stock, down from their previous price objective of $56.00.
A number of other analysts have also commented on the stock. Zacks Investment Research raised shares of Verizon Communications from a hold rating to a buy rating and set a $59.00 target price for the company in a report on Wednesday, August 8th. Scotiabank set a $61.00 target price on shares of Verizon Communications and gave the stock a buy rating in a report on Wednesday, July 25th. Robert W. Baird lifted their target price on shares of Verizon Communications from $52.00 to $53.00 and gave the stock a neutral rating in a report on Wednesday, July 25th. Credit Suisse Group began coverage on shares of Verizon Communications in a report on Tuesday, July 10th. They issued an outperform rating and a $58.00 price target for the company. Finally, Goldman Sachs Group raised shares of Verizon Communications from a neutral rating to a buy rating and boosted their price target for the company from $51.00 to $56.00 in a report on Thursday, June 21st. Seven investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and a consensus target price of $55.17.
VZ opened at $53.19 on Tuesday. The company has a debt-to-equity ratio of 2.04, a current ratio of 0.96 and a quick ratio of 0.92. Verizon Communications has a 52 week low of $43.97 and a 52 week high of $55.21. The firm has a market cap of $224.44 billion, a price-to-earnings ratio of 14.22, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69.
Several hedge funds have recently made changes to their positions in the company. Earnest Partners LLC bought a new stake in Verizon Communications in the 4th quarter valued at $103,000. Catalyst Capital Advisors LLC bought a new stake in Verizon Communications in the 2nd quarter valued at $103,000. Stelac Advisory Services LLC bought a new stake in Verizon Communications in the 4th quarter valued at $111,000. Wagner Wealth Management LLC bought a new stake in Verizon Communications in the 4th quarter valued at $129,000. Finally, Avestar Capital LLC bought a new stake in Verizon Communications in the 4th quarter valued at $131,000. 64.22% of the stock is owned by institutional investors.
Verizon Communications Company Profile
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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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