Equities analysts predict that Verizon Communications Inc. (NYSE:VZ) will post earnings of $0.88 per share for the current quarter, according to Zacks. Sixteen analysts have made estimates for Verizon Communications’ earnings. The highest EPS estimate is $0.93 and the lowest is $0.81. Verizon Communications reported earnings of $0.86 per share in the same quarter last year, which indicates a positive year over year growth rate of 2.3%. The business is expected to announce its next quarterly earnings report on Tuesday, January 23rd.
On average, analysts expect that Verizon Communications will report full year earnings of $3.77 per share for the current financial year, with EPS estimates ranging from $3.73 to $3.80. For the next fiscal year, analysts anticipate that the business will post earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.04. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting the consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.01 earnings per share.
Several brokerages have recently weighed in on VZ. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Bank of America Corporation set a $52.00 price objective on Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reaffirmed a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a research report on Wednesday, October 4th. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada boosted their price target on Verizon Communications from $48.00 to $50.00 and gave the stock a “sector perform” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty have assigned a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and an average target price of $52.75.
Shares of Verizon Communications (NYSE VZ) traded up $0.66 during trading on Monday, reaching $44.77. The company’s stock had a trading volume of 13,226,650 shares, compared to its average volume of 15,422,783. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. The stock has a market capitalization of $182,640.00, a price-to-earnings ratio of 11.79, a P/E/G ratio of 4.16 and a beta of 0.55. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.83.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 5.27%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend was Friday, October 6th. Verizon Communications’s payout ratio is presently 60.51%.
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In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the sale, the executive vice president now owns 7,209 shares of the company’s stock, valued at approximately $350,717.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold a total of 1,830 shares of company stock valued at $89,365 in the last three months. Company insiders own 0.13% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Ronna Sue Cohen increased its stake in Verizon Communications by 0.4% in the second quarter. Ronna Sue Cohen now owns 4,832 shares of the cell phone carrier’s stock valued at $216,000 after acquiring an additional 19 shares during the period. Oakmont Partners LLC boosted its position in Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after buying an additional 22 shares in the last quarter. Conservest Capital Advisors Inc. boosted its position in Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares in the last quarter. Regal Wealth Group Inc. lifted its position in shares of Verizon Communications by 0.7% during the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after purchasing an additional 24 shares in the last quarter. Finally, Glassman Wealth Services lifted its position in shares of Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after purchasing an additional 31 shares in the last quarter. Institutional investors own 62.09% of the company’s stock.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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