Verizon Communications (NYSE:VZ) Stock Rating Upgraded by Erste Group Bank

Verizon Communications (NYSE:VZ) was upgraded by equities researchers at Erste Group Bank from a “hold” rating to a “strong-buy” rating in a note issued to investors on Thursday,Zacks.com reports.

Several other brokerages also recently commented on VZ. Royal Bank Of Canada lifted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 3rd. JPMorgan Chase & Co. increased their price target on shares of Verizon Communications from $47.00 to $49.00 and gave the company a “neutral” rating in a report on Tuesday, February 3rd. Morgan Stanley raised their price objective on shares of Verizon Communications from $47.00 to $49.00 and gave the stock an “equal weight” rating in a research report on Monday, February 2nd. KeyCorp reaffirmed a “sector weight” rating on shares of Verizon Communications in a research report on Monday, January 26th. Finally, Weiss Ratings upgraded Verizon Communications from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, February 5th. Two investment analysts have rated the stock with a Strong Buy rating, ten have issued a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Verizon Communications has an average rating of “Moderate Buy” and a consensus target price of $50.56.

Verizon Communications Trading Up 0.1%

Shares of Verizon Communications stock opened at $49.46 on Thursday. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.91 and a quick ratio of 0.87. The business has a fifty day simple moving average of $48.36 and a two-hundred day simple moving average of $43.44. Verizon Communications has a 1 year low of $38.39 and a 1 year high of $51.68. The company has a market capitalization of $208.59 billion, a price-to-earnings ratio of 12.21, a P/E/G ratio of 2.07 and a beta of 0.29.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Friday, January 30th. The cell phone carrier reported $1.09 EPS for the quarter, beating the consensus estimate of $1.06 by $0.03. The firm had revenue of $36.38 billion for the quarter, compared to the consensus estimate of $36.20 billion. Verizon Communications had a net margin of 12.43% and a return on equity of 19.03%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $1.10 earnings per share. Verizon Communications has set its FY 2026 guidance at 4.900-4.950 EPS. Research analysts forecast that Verizon Communications will post 4.69 EPS for the current year.

Insiders Place Their Bets

In other Verizon Communications news, SVP Mary-Lee Stillwell sold 8,569 shares of the business’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $50.00, for a total value of $428,450.00. Following the completion of the sale, the senior vice president owned 43,782 shares of the company’s stock, valued at $2,189,100. The trade was a 16.37% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Hans Erik Vestberg sold 200,000 shares of the stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $49.61, for a total transaction of $9,922,000.00. Following the transaction, the director owned 145,069 shares in the company, valued at approximately $7,196,873.09. The trade was a 57.96% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 218,148 shares of company stock worth $10,780,356 in the last quarter. 0.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

A number of large investors have recently added to or reduced their stakes in the stock. Old North State Trust LLC raised its stake in Verizon Communications by 1.7% in the fourth quarter. Old North State Trust LLC now owns 46,962 shares of the cell phone carrier’s stock valued at $1,913,000 after purchasing an additional 770 shares in the last quarter. Purpose Unlimited Inc. acquired a new stake in Verizon Communications during the fourth quarter worth about $154,000. Cornerstone Planning LLC acquired a new stake in Verizon Communications during the fourth quarter worth about $2,807,000. Rockefeller Capital Management L.P. increased its holdings in Verizon Communications by 31.6% in the 4th quarter. Rockefeller Capital Management L.P. now owns 2,693,602 shares of the cell phone carrier’s stock valued at $109,710,000 after buying an additional 647,230 shares during the period. Finally, World Investment Advisors increased its holdings in Verizon Communications by 23.9% in the 4th quarter. World Investment Advisors now owns 466,396 shares of the cell phone carrier’s stock valued at $18,996,000 after buying an additional 89,826 shares during the period. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

Verizon Communications Inc (NYSE: VZ) is a major U.S.-based telecommunications company that provides a broad range of communications and information services. Its operations span consumer and business markets, with core offerings that include wireless voice and data services, fixed-line broadband and fiber-optic services, and enterprise networking solutions. Verizon is headquartered in New York City and operates a nationwide wireless network that supports consumer subscribers as well as business and government customers.

The company’s consumer products include mobile phone plans, unlimited data services, and Fios, its branded fiber-optic internet, television and voice service for homes and small businesses.