Verizon Communications (NYSE:VZ – Get Rating) had its price objective cut by research analysts at Tigress Financial from $68.00 to $64.00 in a report released on Friday, The Fly reports. Tigress Financial's target price suggests a potential upside of 72.41% from the company's current price.

Several other equities analysts have also issued reports on the company. Royal Bank of Canada decreased their target price on Verizon Communications from $50.00 to $42.00 and set a "sector perform" rating for the company in a research report on Monday, October 24th. Credit Suisse Group decreased their price objective on Verizon Communications to $43.00 in a research report on Thursday, October 27th. Moffett Nathanson lowered Verizon Communications from a "market perform" rating to an "underperform" rating and set a $41.00 price objective for the company. in a research report on Thursday, August 18th. UBS Group decreased their price objective on Verizon Communications from $47.00 to $37.00 and set a "neutral" rating for the company in a research report on Monday, October 24th. Finally, Wells Fargo & Company decreased their price objective on Verizon Communications from $48.00 to $40.00 and set an "equal weight" rating for the company in a research report on Friday, October 7th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $48.55.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $37.12 on Friday. The stock has a market capitalization of $155.90 billion, a P/E ratio of 8.05, a P/E/G ratio of 1.74 and a beta of 0.38. Verizon Communications has a 1-year low of $34.55 and a 1-year high of $55.51. The company has a current ratio of 0.75, a quick ratio of 0.69 and a debt-to-equity ratio of 1.50. The business has a 50-day moving average price of $37.49 and a two-hundred day moving average price of $42.82.

Institutional Trading of Verizon Communications

Large investors have recently bought and sold shares of the business. Continental Investors Services Inc. bought a new position in shares of Verizon Communications during the third quarter worth about $793,000. Houlihan Financial Resource Group Ltd. bought a new position in shares of Verizon Communications during the third quarter worth about $1,061,000. WealthPlan Investment Management LLC bought a new position in shares of Verizon Communications during the third quarter worth about $9,290,000. Birmingham Capital Management Co. Inc. AL raised its position in shares of Verizon Communications by 1.3% during the third quarter. Birmingham Capital Management Co. Inc. AL now owns 32,661 shares of the cell phone carrier's stock worth $1,240,000 after acquiring an additional 434 shares during the last quarter. Finally, London & Capital Asset Management Ltd raised its position in shares of Verizon Communications by 12.6% during the third quarter. London & Capital Asset Management Ltd now owns 846,641 shares of the cell phone carrier's stock worth $32,147,000 after acquiring an additional 94,759 shares during the last quarter. 62.83% of the stock is owned by institutional investors and hedge funds.

Verizon Communications Company Profile

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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