Terex Corporation (TEX) And Verizon Communications Inc. (VZ) Had Little To Celebrate Today

The JP Morgan analysts had expected Verizon Communications Inc. (NYSE:VZ) to deliver EPS of $3.94 for 2015 and $4.06 for 2016. The $182.83 billion telecommunications company is focused on getting back to its former credit rating, which was cut in 2013 when it signed a merger agreement with Vodafone to the tune of $130 million, which is to be completed by 2019. Another deal that Verizon embarked on recently was when it decided to sell a package of wireline assets to Frontier Communications Corp (NASDAQ:FTR) for $10 billion earlier this year.

Professional money managers we track were bullish towards the company during the second trimester. Even though the stock price dropped by 4% during the quarter, a total of 62 hedge funds held $2.77 billion in the company at the end of June compared to 59 firms with $2.21 billion at the end of March. Legendary investor Warren Buffett‘s Berkshire Hathaway is the largest stockholder of Verizon Communications Inc. (NYSE:VZ) within our database, holding some 15.0 million shares valued at $699.19 million.

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