Citigroup Inc (NYSE:C) analysts upgraded Verizon Communications Inc (NYSE:VZ) stock from neutral to buy on Monday and reported “opportunity is knocking” for an accretive buyout scenario of Vodafone Group Plc (ADR) (NASDAQ:VOD) stake in Verizon Wireless.
Analysts of the company also upgraded their target price to $54 per share from a prior $46 per share. They further reported that the buyout scenario could be “meaningfully more accretive” than what is already priced into the Verizon stock price.
The analysts reported wireline margin improvement remains an optimistic catalyst heading into 2014 and 2015. Shares of the New York based carrier tumbled.
Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. AT&T Inc. (NYSE:T) fell -0.77% to settle at $36.15, CenturyLink, Inc. (NYSE:CTL) moved down -0.49% to end at $34.20 while Telephone & Data Systems, Inc. (NYSE:TDS) plunged -1.05% to finish at $21.76 on Monday.
Verizon Communications Inc. (NYSE:VZ) on March 18, 2013 increased +1.52% to the closing price of $48.75. The overall volume in the last trading session was 14.77 million shares. Its fifty two weeks range was $36.80 – $48.77. The total market capitalization remained at $139.38 billion.
VZ is ahead of its 52-week low with 37.02% and looking forward from its 52-week high price with 0.18%. VZ’s last month’s stock price volatility remained 1.39%. In its share capital VZ has 2.86 billion outstanding shares, among them 2.86 billion shares have been floated in market exchange. VZ’s stock’s institutional ownership remained 56.27% while insider ownership included 0.01%.
The stock price of VZ is moving forward from its 20 days moving average with 4.40% and remote positively from 50 days moving average with 8.89%. VZ’s current year’s earnings per share experienced a downfall of -63.89% while its current quarter performance remained at 10.77%. Company’s beta coefficient included 0.46. Beta factors measure the amount of market risk associated with market trade.
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