Market Analysts see Verizon Communications Inc [VZ] gaining to $39. Time to buy?

Verizon Communications Inc [NYSE: VZ] gained 1.01% on the last trading session, reaching $41.96 price per share at the time. The company report on March 28, 2024 at 9:30 AM that Verizon Joins RE100 and Shares New Milestones in its Responsible Business Plan.

“As a core part of our business, Verizon looks to benefit the communities where we operate, identify ways to be stronger and more resilient and create long-term, measurable value for our shareholders, customers, employees and society alike,” said James Gowen, Senior Vice President, Global Supply Chain & Sourcing, and Chief Sustainability Officer at Verizon. “Joining this global initiative further underscores Verizon’s dedication to reducing our carbon footprint and transitioning to renewable energy to help protect the planet for future generations.”.

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If compared to the average trading volume of 20.20M shares, VZ reached a trading volume of 19434604 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying 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 $44.81 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 2.25. 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.

Redburn Atlantic have made an estimate for Verizon Communications Inc shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on March 22, 2024. The new note on the price target was released on January 31, 2024, representing the official price target for Verizon Communications Inc stock. Previously, the target price had yet another raise from $36 to $47, while Daiwa Securities kept a Outperform rating on VZ stock. On January 16, 2024, analysts increased their price target for VZ shares from 42 to 45.

The Average True Range (ATR) for Verizon Communications Inc is set at 0.64, with the Price to Sales ratio for VZ stock in the period of the last 12 months amounting to 1.32. The Price to Book ratio for the last quarter was 1.91, with the Price to Cash per share for the same quarter was set at 0.79. Price to Free Cash Flow for VZ in the course of the last twelve months was 9.43 with Quick ratio for the last quarter at 0.60.

Trading performance analysis for VZ stock

Verizon Communications Inc [VZ] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.50. With this latest performance, VZ shares gained by 4.64% in over the last four-week period, additionally plugging by 29.51% over the last 6 months – not to mention a rise of 10.42% 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 68.51, with the RSI for the last a single of trading hit 76.93, and the three-weeks RSI is set at 63.62 for Verizon Communications Inc [VZ]. The present Moving Average for the last 50 days of trading for this stock 40.60, while it was recorded at 41.12 for the last single week of trading, and 36.44 for the last 200 days.

Verizon Communications Inc [VZ]: A deeper dive into fundamental analysis

Verizon Communications Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.60 and a Current Ratio set at 0.64.

Verizon Communications Inc [VZ]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, Verizon Communications Inc posted 1.2/share EPS, while the average EPS was predicted by analysts to be reported at 1.2/share. 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 1.39%.

An analysis of Institutional ownership at Verizon Communications Inc [VZ]

There are presently around $121.68 billion, or None% of VZ stock, in the hands of institutional investors. The top three institutional holders of VZ stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in VZ stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in VZ stock with ownership which is approximately 5.8325%.