The stock of Verizon Communications Inc. (NYSE:VZ) is a huge mover today! The stock decreased 0.81% or $0.41 during the last trading session, hitting $50.27. About 17.19 million shares traded hands or 37.08% up from the average. Verizon Communications Inc. (NYSE:VZ) has declined 1.65% since March 2, 2016 and is downtrending. It has underperformed by 9.91% the S&P500.
The move comes after 6 months negative chart setup for the $202.47B company. It was reported on Oct, 6 by Barchart.com. We have $47.76 PT which if reached, will make NYSE:VZ worth $10.12 billion less.
Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on October, 18. They expect $1.00 EPS, down 3.85% or $0.04 from last year’s $1.04 per share. VZ’s profit will be $4.03 billion for 12.57 P/E if the $1.00 EPS becomes a reality. After $0.94 actual EPS reported by Verizon Communications Inc. for the previous quarter, Wall Street now forecasts 6.38% EPS growth.
Verizon Communications Inc. (NYSE:VZ) Ratings Coverage
Out of 16 analysts covering Verizon Communications Inc. (NYSE:VZ), 4 rate it a “Buy”, 0 “Sell”, while 12 “Hold”. This means 25% are positive. Verizon Communications Inc. has been the topic of 25 analyst reports since July 22, 2015 according to StockzIntelligence Inc. On Monday, April 18 the stock rating was maintained by Barclays Capital with “Equal-Weight”. The stock of Verizon Communications Inc. (NYSE:VZ) earned “Perform” rating by Oppenheimer on Wednesday, July 20. The stock of Verizon Communications Inc. (NYSE:VZ) has “Hold” rating given on Friday, August 14 by Zacks. On Monday, September 7 the stock rating was downgraded by Zacks to “Hold”. Vetr downgraded Verizon Communications Inc. (NYSE:VZ) rating on Tuesday, August 11. Vetr has “Buy” rating and $48.62 price target. The rating was maintained by Scotia Capital with “Sector Outperform” on Wednesday, October 21. The stock of Verizon Communications Inc. (NYSE:VZ) has “Neutral” rating given on Thursday, February 4 by DA Davidson. RBC Capital Markets maintained the stock with “Outperform” rating in Monday, January 25 report. The company was downgraded on Wednesday, July 27 by Hilliard Lyons. The rating was downgraded by Jefferies on Thursday, April 7 to “Hold”.
According to Zacks Investment Research, “Verizon Communications, formed by the merger of Bell Atlantic and GTE, is one of the world’s leading providers of high-growth communications services. Verizon companies are the largest providers of wireline and wireless communications in the United States. Verizon is also the world’s largest provider of print and on-line directory information.”
Insitutional Activity: The institutional sentiment decreased to 1.15 in Q2 2016. Its down 0.07, from 1.22 in 2016Q1. The ratio turned negative, as 60 funds sold all Verizon Communications Inc. shares owned while 645 reduced positions. 97 funds bought stakes while 717 increased positions. They now own 2.54 billion shares or 1.12% less from 2.57 billion shares in 2016Q1.
Vnbtrust National Association has invested 0.34% of its portfolio in Verizon Communications Inc. (NYSE:VZ). Villere St Denis J And Limited Liability Com last reported 0.3% of its portfolio in the stock. The New York-based Etrade Capital Management Limited Liability has invested 0.39% in Verizon Communications Inc. (NYSE:VZ). Loeb owns 11,202 shares or 0.21% of their US portfolio. Thompson Siegel And Walmsley Ltd Limited Liability Company has 0.25% invested in the company for 280,485 shares. Marble Harbor Inv Counsel Ltd Liability Com accumulated 6,202 shares or 0.09% of the stock. Asset Advisors owns 4,605 shares or 0.05% of their US portfolio. Haverford Fincl holds 0.2% or 8,542 shares in its portfolio. Prudential Financial Inc accumulated 1.11% or 11.83M shares. Steinberg Asset Mngmt holds 1.35% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 139,472 shares. Adirondack Trust Company reported 46,687 shares or 1.86% of all its holdings. Department Mb Natl Bank N A holds 0.12% or 20,790 shares in its portfolio. Old Point Trust & Fincl N A, a Virginia-based fund reported 92,177 shares. Scotia owns 380,032 shares or 0.43% of their US portfolio. Cannell Peter B owns 52,353 shares or 0.11% of their US portfolio.
Insider Transactions: Since April 26, 2016, the stock had 0 insider buys, and 5 selling transactions for $175,238 net activity. Shares for $33,466 were sold by SILLIMAN CRAIG L. on Thursday, May 26.
More important recent Verizon Communications Inc. (NYSE:VZ) news were published by: Fool.com which released: “Better Buy: AT&T Inc. vs. Verizon Communications” on October 04, 2016, also Prnewswire.com published article titled: “Verizon customers connect with friends and family in Haiti for free following …”, Nasdaq.com published: “Verizon Communications Inc. (VZ) Ex-Dividend Date Scheduled for October 05, 2016” on October 04, 2016. More interesting news about Verizon Communications Inc. (NYSE:VZ) was released by: Investorplace.com and their article: “Why Salesforce.com, Inc. (CRM), Immunomedics, Inc. (IMMU) and Verizon …” with publication date: October 05, 2016.
VZ Company Profile
Verizon Communications Inc. (Verizon), incorporated on October 7, 1983, is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. The Firm offers voice, data and video services and solutions on its wireless and wireline networks. The Company’s divisions include Wireless and Wireline. The Wireless segment offers communications services and products, including wireless voice and data services and equipment sales that are provided to consumer, business and government clients across the United States. The Wireline segment offers voice, data and video communications services and products, such as broadband video and data, corporate networking solutions, data center and cloud services, security and managed network services, and local and long distance voice services. The Firm provides these services and products to clients in the United States, as well as to carriers, businesses and government clients both in the United States and around the world.
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