Verizon Communications Inc. (NYSE: VZ) shares fell in early trading today on lower trade volume than normal after a number of analysts weighed in on the investing value of the stock and reiterated thier respective ratings.
Meanwhile, U.S. stocks opened significantly lower in early trading. The Dow Jones Industrial Average was 58 points lower, or 0.29% to 19895, the S&P 500 fell 7 points, or 0.28% to 2268, while the Nasdaq dropped 22 points, or 0.38% to 5542.
Analysts at Drexel Hamilton reiterated a Buy rating on shares of Verizon Communications Inc. (NYSE: VZ) in a reserach note to investors, making it one of the more actively watched stocks on Wall Street. Drexel Hamilton currently has a rating of Buy on the shares. The one-year price target of $52.82 is higher than the opening price of $52.43, causing a fair amount of other analysts to comment on the company recently. Looking back over the last year, Verizon Communications Inc. stock has a high of $56.95. Typically, after analysts issue a “reiterated rating” report on a stock, they will later issue periodic updates, such as a price target change.
Shares of Verizon Communications Inc. (NYSE: VZ) opened at $52.43 yesterday and traded in a range between, $52.30 and $52.62, and last traded at $52.45, a decrease of $0.01 from the previous closing price.
Verizon Communications Inc. (NYSE: VZ) currently has a market cap of 213.82B.
Verizon Communications Inc. (NYSE: VZ) Average Daily Trading Volume
The stock’s average daily volume is 14,506,700 shares out of a total float 4,060,368,000 and some 1,143,274 shares crossed the trading desk yesterday, 112 percent below normal. lower than normal. Look for trading volume to pick up in the coming days as swing traders often use upticks in trading volume to identify heavy volume accumulation or distribution by institutional investors.
While increased trading for one day will not mean much, however, a trend of heavy trading volume on the buy side over a period of days or weeks sends a positive signal to market traders that institutions may be moving in, so institutional sponsorship is very important.
Institutional sponsorship is defined by ownership of a stock by mutual funds, banks, pension funds and other large institutions.
Institutional investors such as these retain substantial teams of analysts that investigate thousands of stocks. So watching their interests is a good way to make sure you are buying the right stocks.
Verizon Communications Inc. (NYSE: VZ) Moving Averages
A moving average can also act as support or resistance. In an uptrend a 50-day, 100-day or 200-day moving average may act as a support level, as shown in the figure below.
This is because the average acts like a floor (support), so the price bounces up off of it.
In a downtrend a moving average may act as resistance; like a ceiling, the price hits it and then starts to drop again.
By identifying trends, moving averages allow traders to make those trends work in their favor and increase the number of successful trades.
Trades for Verizon Communications Inc. (NYSE: VZ) have ranged from $43.79 – 56.95, and the stock now has a 50-day MA of $52.18 and 200-day MA of $52.02. Today’s last price is 7.90%% under the 52 week high of $56.95.
Indeed, earnings growth is among the most crucial things to look at in regards to stock investing and, accordingly, investors identify companies that have increased their earnings by at least 25% over the past 3 years.
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