Equities research analysts expect Verizon Communications Inc. (NYSE:VZ) to post earnings per share of $0.88 for the current quarter, Zacks reports. Sixteen analysts have made estimates for Verizon Communications’ earnings. The lowest EPS estimate is $0.81 and the highest is $0.97. Verizon Communications reported earnings per share of $0.86 in the same quarter last year, which suggests a positive year-over-year growth rate of 2.3%. The company is expected to announce its next quarterly earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Verizon Communications will report full-year earnings of $3.77 per share for the current year, with EPS estimates ranging from $3.73 to $3.86. For the next year, analysts forecast that the business will report earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.04. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. The firm had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The company’s revenue for the quarter was up 2.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.01 EPS.
Several analysts have recently weighed in on the stock. HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their price objective for the company from $54.83 to $42.80 in a research note on Thursday, December 14th. They noted that the move was a valuation call. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Instinet lifted their price objective on shares of Verizon Communications from $47.00 to $61.00 and gave the company a “buy” rating in a research note on Tuesday, December 12th. Cowen reiterated a “hold” rating and issued a $52.00 price objective on shares of Verizon Communications in a research note on Tuesday, September 19th. Finally, KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. Verizon Communications presently has an average rating of “Hold” and a consensus target price of $51.99.
Verizon Communications (NYSE VZ) traded down $0.42 during trading hours on Tuesday, hitting $52.83. 14,239,371 shares of the stock traded hands, compared to its average volume of 15,714,958. The company has a market cap of $214,762.17, a price-to-earnings ratio of 14.04, a P/E/G ratio of 4.95 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $54.83.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be paid a dividend of $0.59 per share. The ex-dividend date of this dividend is Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.47%. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Friday, October 27th. The shares were sold at an average price of $48.62, for a total transaction of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares of the company’s stock, valued at approximately $291,185.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold a total of 1,830 shares of company stock valued at $88,609 in the last 90 days. 0.13% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently bought and sold shares of the business. Whitnell & Co. boosted its holdings in shares of Verizon Communications by 1.2% in the 2nd quarter. Whitnell & Co. now owns 10,316 shares of the cell phone carrier’s stock worth $461,000 after buying an additional 125 shares during the last quarter. Allegis Investment Advisors LLC boosted its holdings in shares of Verizon Communications by 9.0% in the 1st quarter. Allegis Investment Advisors LLC now owns 59,067 shares of the cell phone carrier’s stock worth $2,880,000 after buying an additional 4,898 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of Verizon Communications by 4.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 1,673,761 shares of the cell phone carrier’s stock worth $74,961,000 after buying an additional 72,980 shares during the last quarter. Segantii Capital Management Ltd purchased a new position in shares of Verizon Communications in the 1st quarter worth about $6,094,000. Finally, Canada Pension Plan Investment Board boosted its holdings in shares of Verizon Communications by 1.3% in the 2nd quarter. Canada Pension Plan Investment Board now owns 10,704,239 shares of the cell phone carrier’s stock worth $478,051,000 after buying an additional 136,700 shares during the last quarter. 63.23% of the stock is currently owned by hedge funds and other institutional investors.
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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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