Technical Insights on Verizon Communications Inc. (NYSE:VZ)

[PRNewswire] Verizon Communications Inc. (NYSE:VZ)(TREND ANALYSIS) announced the expiration and final results of its previously announced seven separate private offers to exchange (the “Exchange Offers”) specified series of debt securities issued by Verizon and by GTE Corporation (a subsidiary of Verizon) (collectively, the “Old Notes”) for new debt securities to be issued by Verizon (the “New Notes”) and, in the case of the 6.94% debentures due 2028 of GTE Corporation (the “GTE Debentures”), cash, each in accordance with the terms of the Exchange Offers.

Stock Performance: Click here for a free comprehensive Trend Analysis Report

The company is currently valued at $198.13 billion and closed the last trading session at $47.68. The stock has 50-day moving average of $47.98 and a 200-day moving average of $49.03.

Verizon Communications Inc. (NYSE:VZ) is currently trading 11.14% below its 52-week-high, 5.74% above its 52-week-low and in the range of $45.37-$49.99 over the past month. The 1-year range for the stock is $45.09-$53.66. Verizon Communications Inc. (VZ) has a price to book ratio of 16.11 versus S&P 500 average of 2.81. The company’s share price has outperformed the S&P 500 year to date by over 2.86%.

Verizon Communications Inc. (VZ) current short interest stands at 117,660,752 shares. It has increased by 153% from the same period of last month. Around 2.8% of the company’s shares, which are float, are short sold. With a 30-days average daily volume of 17,191,068 shares, the number of days required to cover the short positions stand at 8.5 days.

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There are currently thirty-nine analysts that we track that cover VZ. Of those thirty-nine, twenty-one have a buy rating, seventeen have a hold rating, and one has a sell rating. On a consensus basis this yields to a Buy. The overall consensus target price stands at $51.94 which represents an upside of 8.94% from the last closing price of $47.68.

Recently, several research firms updated their ratings on the stock. Indeed, in the last five days, an average price target of $51.14 has been given to the stock, which represents an upside of 7.26% from the last closing price.

Indeed, Cowen and Company maintained their market perform stance on March 11st, with a target price of $50, which represents an upside of 4.87% from the last closing price. Another research firm, Wells Fargo Securities, reiterated their outperform stance on March 10th. Finally, MoffettNathanson LLC maintained their neutral stance on March 05th, with a target price of $48.

Company Profile

Verizon Communications Inc. is an integrated telecommunications company that provides wire line voice and data services, wireless services, Internet services, and published directory information. The Company also provides network services for the federal government including business phone lines, data services, telecommunications equipment and payphones.

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