Bidness Tech - Equity Firms Grant Verizon With A 'Hold' Rating

The wireless carriers have received a 'hold' rating from a total of around nine analysts maintaining a bearish stance.

Verizon Communications has been following an uneven pace on the stock index for quite some time which is why the analysts who are studying the activities of the wireless providers seem to have mixed opinions for the near term of the company. According to various researches that were made by the analysts, in general, the consensus rating that has been received by the wireless business is of a ‘hold’.

This rating has been granted to the wireless carrier by around twenty-one financial firms, as recorded by the Analysts Ratings Net. To be more precise, a ‘sell’ rating has been received by the telecom company from one equity firm whereas around nine equity firms have suggested a ‘hold’ rating to the largest wireless providers in the United States. On the other hand, a ‘buy’ rating has also been received by the wireless stock business by around nine financial analysts which clearly shows that the company seems to have mixed opinions about the outcome of the business activities that it has lately been carrying.

The target on the price of the shares of Verizon for a 12-month financial period has been set around $53.28 by the analysts in general. According to the session the firm did trade in on the index, it was seen to open with a share price of around $49.44 and from that point, the firm did not falter and maintained till the market closed for that session.

Towards the more technical side, the 52 week low that was recorded by the analysts from the index turned out to be at $45.09 whereas the 52 week high of the Verizon wireless stock came around at $53.66. As for the moving average of the wireless company’s stock for a period of 50 days, the numbers were recorded at $49. On the other hand, the moving average for 200 days was noted down at $48. Keeping in mind that the firm is the largest wireless company of the United States of America, the market cap value recorded by analysts comes around at $201.64 billion.

Analysts from Zacks, furthermore, have been closely analyzing the stock activities of Verizon and have upgraded their stance on the firm by granting a rating of ‘buy’ from a previous ‘hold’ rating that was suggested for the wireless business’s stock. On the other hand, Macquarie has analysts who believe that a ‘neutral’ rating should be given to the company. JP Morgan has analysts who have presented an ‘overweight’ ranking to the wireless carriers believing the firm is carrying out its tasks better than expectations.