Oppenheimer Downgraded Verizon Communications Inc. (VZ)

Verizon Communications Inc. (NYSE:VZ) was downgraded by analysts at Oppenheimer Holdings Inc. from an “outperform” rating to a “market perform” rating in a research report issued on Wednesday.

Shares of Verizon Communications (NYSE:VZ) opened at 55.70 on Wednesday. The company has a market cap of $227.05 billion and a P/E ratio of 12.63. The firm has a 50 day moving average price of $53.99 and a 200-day moving average price of $51.40. Verizon Communications has a 12 month low of $38.06 and a 12 month high of $56.95.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, April 21st. The cell phone carrier reported $1.06 EPS for the quarter, meeting analysts’ consensus estimates of $1.06. The firm earned $32.20 billion during the quarter, compared to the consensus estimate of $32.49 billion. During the same quarter last year, the firm earned $1.02 earnings per share. The business’s revenue for the quarter was up .6% on a year-over-year basis. Analysts anticipate that Verizon Communications will post $3.88 earnings per share for the current fiscal year.