The stock of Verizon Communications Inc. (NYSE:VZ) is a huge mover today! About 3.49 million shares traded hands. Verizon Communications Inc. (NYSE:VZ) has declined 4.66% since March 9, 2016 and is downtrending. It has underperformed by 12.08% the S&P500.
The move comes after 8 months positive chart setup for the $203.77B company. It was reported on Oct, 12 by Barchart.com. We have $74.92 PT which if reached, will make NYSE:VZ worth $99.85B more.
Analysts await Verizon Communications Inc. (NYSE:VZ) to report earnings on October, 18. They expect $1.00 earnings per share, down 3.85% or $0.04 from last year’s $1.04 per share. VZ’s profit will be $4.05 billion for 12.57 P/E if the $1.00 EPS becomes a reality. After $0.94 actual earnings per share 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. The rating was maintained by FBR Capital with “Outperform” on Wednesday, October 21. The firm has “Sector Outperform” rating given on Wednesday, October 21 by Scotia Capital. RBC Capital Markets maintained the shares of VZ in a report on Monday, January 25 with “Outperform” rating. Hilliard Lyons downgraded the stock to “Neutral” rating in Wednesday, July 27 report. The rating was upgraded by Zacks to “Hold” on Friday, August 14. Argus Research maintained the shares of VZ in a report on Wednesday, October 21 with “Buy” rating. On Monday, September 7 the stock rating was downgraded by Zacks to “Hold”. The firm earned “Neutral” rating on Tuesday, August 11 by MoffettNathanson. Citigroup maintained Verizon Communications Inc. (NYSE:VZ) on Monday, March 14 with “Neutral” rating. The stock has “Perform” rating given by Oppenheimer on Wednesday, July 20.
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 dropped, 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.
Putnam Limited last reported 4.59 million shares in the company. California State Teachers Retirement System last reported 1.06% of its portfolio in the stock. Banque Pictet And Cie Sa has 0.05% invested in the company for 35,489 shares. Nelson Van Denburg Campbell Wealth Mgmt Group Inc Inc Ltd Co holds 21,537 shares or 0.52% of its portfolio. Athena Advisors owns 5,031 shares or 0.09% of their US portfolio. Halsey Associates Ct, a Connecticut-based fund reported 9,072 shares. Allianz Asset Ag, a Germany-based fund reported 9.35M shares. Eagleclaw Cap Managment Limited Co holds 0.67% or 17,906 shares in its portfolio. Jackson Wealth Management Limited Liability Co reported 32,061 shares or 0.67% of all its holdings. Transamerica Fincl Advsrs holds 0.82% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 146,330 shares. Fisher Asset Management has 31,770 shares for 0% of their US portfolio. Whitnell Company holds 0.2% of its portfolio in Verizon Communications Inc. (NYSE:VZ) for 11,191 shares. Bahl & Gaynor last reported 180,311 shares in the company. Raymond James Tru Na reported 287,549 shares or 1.36% of all its holdings. Lakeview Prns Ltd Co owns 54,310 shares or 1.81% of their US portfolio.
Insider Transactions: Since April 26, 2016, the stock had 0 insider purchases, and 5 selling transactions for $175,238 net activity. Another trade for 672 shares valued at $35,213 was made by SILLIMAN CRAIG L. on Monday, September 26.
More notable recent Verizon Communications Inc. (NYSE:VZ) news were published by: Fool.com which released: “Better Buy: Frontier Communications Corp vs. Verizon Communications Inc.” on October 10, 2016, also Fool.com with their article: “Better Buy: Verizon Communications Inc. vs. Sprint” published on October 09, 2016, Prnewswire.com published: “Verizon at the U.S. Hispanic Chamber of Commerce National Convention announces …” on October 10, 2016. More interesting news about Verizon Communications Inc. (NYSE:VZ) were released by: Prnewswire.com and their article: “Verizon anuncia en la ConvenciÃ³n Nacional de la CÃ¡mara de Comercio Hispana de …” published on October 10, 2016 as well as Prnewswire.com‘s news article titled: “Verizon Wireless extends offer to take care of talk, text and data charges …” with publication date: October 11, 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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