why Verizon Communications Inc. [VZ] is a Good Choice for Investors After New Price Target of $58.61

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Verizon Communications Inc. [NYSE: VZ] price surged by 0.39 percent to reach at $0.19. The company report on June 17, 2022 that Verizon statement on FAA 5G C-Band agreement.


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Today, the Federal Aviation Administration announced that an agreement has been reached regarding the deployment of C-Band spectrum near U.S. airports. The following statement may be attributed to Craig Silliman, Executive Vice President and Chief Administrative Officer for Verizon:.

“Today’s announcement identifies a path forward that will enable Verizon to make full use of our C-Band spectrum for 5G around airports on an accelerated and defined schedule. Under this agreement reached with the FAA, we will lift the voluntary limitations on our 5G network deployment around airports in a staged approach over the coming months meaning even more consumers and businesses will benefit from the tremendous capabilities of 5G technology. This progress is the result of months of close collaboration with the FAA, FCC and aviation industry, and sets the stage for continued, robust 5G deployment.”.

A sum of 36386374 shares traded at recent session while its average daily volume was at 24.41M shares. Verizon Communications Inc. shares reached a high of $49.485 and dropped to a low of $48.53 until finishing in the latest session at $49.03.

The one-year VZ stock forecast points to a potential upside of 16.35. The average equity rating for VZ stock is currently 2.80, trading closer to a bullish pattern in the stock market.

Guru’s Opinion on Verizon Communications Inc. [VZ]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for VZ shares is $58.61 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on VZ stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

DZ Bank have made an estimate for Verizon Communications Inc. shares, keeping their opinion on the stock as Sell, with their previous recommendation back on April 29, 2022. While these analysts kept the previous recommendation, Goldman dropped their target price from $61 to $55. The new note on the price target was released on April 25, 2022, representing the official price target for Verizon Communications Inc. stock. Previously, the target price had yet another drop from $62 to $56, while JP Morgan kept a Neutral rating on VZ stock.

The Average True Range (ATR) for Verizon Communications Inc. is set at 0.96, with the Price to Sales ratio for VZ stock in the period of the last 12 months amounting to 1.53. The Price to Book ratio for the last quarter was 2.46, with the Price to Cash per share for the same quarter was set at 0.40. Price to Free Cash Flow for VZ in the course of the last twelve months was 45.03 with Quick ratio for the last quarter at 0.70.

VZ Stock Performance Analysis:

Verizon Communications Inc. [VZ] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -3.52. With this latest performance, VZ shares gained by 0.29% in over the last four-week period, additionally sinking by -7.05% over the last 6 months – not to mention a drop of -12.16% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for VZ stock in for the last two-week period is set at 39.51, with the RSI for the last a single of trading hit 33.17, and the three-weeks RSI is set at 42.36 for Verizon Communications Inc. [VZ]. The present Moving Average for the last 50 days of trading for this stock 50.36, while it was recorded at 49.15 for the last single week of trading, and 52.21 for the last 200 days.

Insight into Verizon Communications Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Verizon Communications Inc. [VZ] shares currently have an operating margin of +23.92 and a Gross Margin at +45.73. Verizon Communications Inc.’s Net Margin is presently recorded at +16.51.

Return on Equity for this stock inclined to 29.49, with Return on Assets sitting at 6.46.

Verizon Communications Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.70 and a Current Ratio set at 0.80.

VZ Stock EPS

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for VZ. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Verizon Communications Inc. go to 3.59%.

Verizon Communications Inc. [VZ] Insider Position Details

There are presently around $129,459 million, or 64.30% of VZ stock, in the hands of institutional investors. The top three institutional holders of VZ stocks are: VANGUARD GROUP INC with ownership of 330,221,086, which is approximately 2.665% of the company’s market cap and around 0.06% of the total institutional ownership; BLACKROCK INC., holding 304,700,845 shares of the stock with an approximate value of $14.94 billion in VZ stocks shares; and STATE STREET CORP, currently with $8.23 billion in VZ stock with ownership of nearly -1.531% of the company’s market capitalization.

Positions in Verizon Communications Inc. stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 1,805 institutional holders increased their position in Verizon Communications Inc. [NYSE:VZ] by around 186,831,142 shares. Additionally, 1,159 investors decreased positions by around 238,940,393 shares, while 212 investors held positions by with 2,214,639,139 shares. The mentioned changes placed institutional holdings at 2,640,410,674 shares, according to the latest SEC report filing. VZ stock had 180 new institutional investments in for a total of 23,470,760 shares, while 143 institutional investors sold positions of 14,300,412 shares during the same period.

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