Scotiabank lifts Verizon Communications Inc. [VZ] price estimate. Who else is bullish?


Verizon Communications Inc. [NYSE: VZ] surged by $0.53 during the normal trading session on Friday and reaching a high of $51.04 during the day while it closed the day at $51.02. The company report on July 14, 2022 that Verizon expands 5G Ultra Wideband service to more than one million more residents in Atlanta, Georgia.

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More than one million more customers in Atlanta, GA now have access to higher speeds and greater capacity from Verizon’s award-winning 5G Ultra Wideband network. Verizon’s high-performance 5G Ultra Wideband provides game-changing benefits, like download speeds up to 10 times faster than median Verizon 4G LTE speeds, a safer alternative to public Wi-Fi, video chatting with fewer frozen faces and console-quality gaming on the go.

The additional coverage services portions of the cities of Loganville, Lawrenceville, Kennasaw, McDonough, Hiram, and Milton GA. The service also covers portions of southwestern Forsyth County, southeastern Fulton County, north Fulton County, western Clayton County, southeastern Cherokee County, and Hartsfield-Jackson International Airport.

Verizon Communications Inc. stock has also gained 1.05% of its value over the past 7 days. However, VZ stock has declined by -5.76% in the 3 months of the year. Over the past six months meanwhile, it has lost -4.55% and lost -1.81% year-on date.

The market cap for VZ stock reached $212.04 billion, with 4.20 billion shares outstanding and 4.20 billion shares in the current float. Compared to the average trading volume of 21.75M shares, VZ reached a trading volume of 12995050 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about 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 $57.85 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.

Scotiabank have made an estimate for Verizon Communications Inc. shares, keeping their opinion on the stock as Sector Outperform, with their previous recommendation back on June 28, 2022. The new note on the price target was released on April 29, 2022, representing the official price target for Verizon Communications Inc. stock. Previously, the target price had yet another drop from $61 to $55, while Goldman kept a Neutral rating on VZ stock. On January 26, 2022, analysts decreased their price target for VZ shares from 62 to 56.

The Average True Range (ATR) for Verizon Communications Inc. is set at 0.93, with the Price to Sales ratio for VZ stock in the period of the last 12 months amounting to 1.58. The Price to Book ratio for the last quarter was 2.56, 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 46.55 with Quick ratio for the last quarter at 0.70.

VZ stock trade performance evaluation

Verizon Communications Inc. [VZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.05. With this latest performance, VZ shares gained by 3.78% in over the last four-week period, additionally sinking by -4.55% over the last 6 months – not to mention a drop of -9.78% 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 53.33, with the RSI for the last a single of trading hit 54.71, and the three-weeks RSI is set at 52.34 for Verizon Communications Inc. [VZ]. The present Moving Average for the last 50 days of trading for this stock 50.17, while it was recorded at 50.66 for the last single week of trading, and 51.89 for the last 200 days.

Verizon Communications Inc. [VZ]: An insightful look at the core 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.

Earnings per share (EPS) analysis for Verizon Communications Inc. [VZ] stock

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 3.53%.

Verizon Communications Inc. [VZ]: Insider Ownership positions

There are presently around $134,326 million, or 64.50% 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 $15.55 billion in VZ stocks shares; and STATE STREET CORP, currently with $8.56 billion in VZ stock with ownership of nearly -1.531% of the company’s market capitalization.

1,760 institutional holders increased their position in Verizon Communications Inc. [NYSE:VZ] by around 184,086,194 shares. Additionally, 1,163 investors decreased positions by around 240,165,544 shares, while 218 investors held positions by with 2,208,561,777 shares. The mentioned changes placed institutional holdings at 2,632,813,515 shares, according to the latest SEC report filing. VZ stock had 161 new institutional investments in for a total of 22,274,447 shares, while 151 institutional investors sold positions of 15,317,726 shares during the same period.