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

Verizon Communications Inc. [NYSE: VZ] price surged by 0.83 percent to reach at $0.37. The company report on August 11, 2022 that Verizon’s ‘Fuel the Love’ Campaign Arrives in Tampa.

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Tampa residents are surprised with free gas on Verizon.

Tampa residents were shocked Thursday when they went to the pump, but not because of high gas prices. This day, it was because their tank of gas was free, paid for by Verizon. It’s all a part of Verizon’s “Fuel the Love” campaign, where over the next few weeks, Verizon will be delighting customers at gas stations in at least 15 cities nationwide with the same surprise.

A sum of 14999734 shares traded at recent session while its average daily volume was at 20.08M shares. Verizon Communications Inc. shares reached a high of $45.26 and dropped to a low of $44.81 until finishing in the latest session at $45.15.

The one-year VZ stock forecast points to a potential upside of 14.89. The average equity rating for VZ stock is currently 2.90, 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 $53.05 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 2.90. 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.

BofA Securities have made an estimate for Verizon Communications Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on July 28, 2022. The new note on the price target was released on July 22, 2022, representing the official price target for Verizon Communications Inc. stock.

The Average True Range (ATR) for Verizon Communications Inc. is set at 0.83, with the Price to Sales ratio for VZ stock in the period of the last 12 months amounting to 1.40. The Price to Book ratio for the last quarter was 2.20, with the Price to Cash per share for the same quarter was set at 0.45. Price to Free Cash Flow for VZ in the course of the last twelve months was 46.09 with Quick ratio for the last quarter at 0.70.

VZ Stock Performance Analysis:

Verizon Communications Inc. [VZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 0.44. With this latest performance, VZ shares dropped by -10.58% in over the last four-week period, additionally sinking by -14.88% over the last 6 months – not to mention a drop of -18.85% 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 37.81, with the RSI for the last a single of trading hit 40.62, and the three-weeks RSI is set at 37.94 for Verizon Communications Inc. [VZ]. The present Moving Average for the last 50 days of trading for this stock 48.79, while it was recorded at 44.80 for the last single week of trading, and 51.17 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 3.35%.

Verizon Communications Inc. [VZ] Insider Position Details

There are presently around $121,138 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 345,733,122, which is approximately 4.697% of the company’s market cap and around 0.06% of the total institutional ownership; BLACKROCK INC., holding 316,099,553 shares of the stock with an approximate value of $14.27 billion in VZ stocks shares; and STATE STREET CORP, currently with $7.58 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 July and at the time of the July reporting period, where 1,652 institutional holders increased their position in Verizon Communications Inc. [NYSE:VZ] by around 171,208,509 shares. Additionally, 1,269 investors decreased positions by around 252,052,913 shares, while 221 investors held positions by with 2,259,761,656 shares. The mentioned changes placed institutional holdings at 2,683,023,078 shares, according to the latest SEC report filing. VZ stock had 144 new institutional investments in for a total of 17,558,058 shares, while 143 institutional investors sold positions of 12,051,588 shares during the same period.


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