Verizon Communications (VZ) was Downgraded by Oppenheimer to ” Perform”. Earlier the firm had a rating of “Outperform ” on the company shares. Oppenheimer advised their investors in a research report released on Jul 20, 2016.
Many Wall Street Analysts have commented on Verizon Communications. Shares were Reiterated by RBC Capital Mkts on Apr 26, 2016 to “Outperform” and Lowered the Price Target to $ 56 from a previous price target of $58 .
On the company’s financial health, Verizon Communications reported $1.06 EPS for the quarter, based on the information available during the earnings call on Apr 21, 2016. Analyst had a consensus estimate of $1.06. The company had revenue of $32171.00 million for the quarter, compared to analysts expectations of $32481.10 million. The company’s revenue was up .6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 EPS.
Verizon Communications opened for trading at $55.87 and hit $56 on the upside on Monday, eventually ending the session at $55.93, with a gain of 0.16% or 0.09 points. The heightened volatility saw the trading volume jump to 96,23,280 shares. Company has a market cap of $227,987 M.
In a different news, on Jun 28, 2016, Craig L. Silliman (EVP of PubPolicy & Gen Counsel) sold 672 shares at $54.56 per share price. According to the SEC, on Feb 26, 2016, Diego Scotti (EVP & Chief Marketing Officer) purchased 800 shares at $50.75 per share price. On Aug 11, 2015, Marni M Walden (EVP&Pres of Prod Innov&New Bus) sold 8,229 shares at $46.26 per share price, according to the Form-4 filing with the securities and exchange commission.
Verizon Communications Inc. (Verizon) is a holding company that acting through its subsidiaries provides communications information and entertainment products and services to consumers businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment includes the Cellco Partnership doing business as Verizon Wireless. Wireless communications products and services include wireless voice and data services and equipment sales which are provided to consumer business and government customers across the United States. Wirelines voice data and video communications products and services include broadband video and data corporate networking solutions data center and cloud services security and managed network services and local and long distance voice services. Verizon provides these products and services to consumers in the United States as well as to carriers businesses and government customers both in the United States and around the world.