Verizon Communications Inc. (NYSE:VZ) – Stock analysts at Gabelli cut their FY2017 earnings per share (EPS) estimates for shares of Verizon Communications in a research report issued to clients and investors on Friday, Zacks Investment Research reports. Gabelli analyst S. Dluzhevskiy now forecasts that the cell phone carrier will earn $3.75 per share for the year, down from their previous forecast of $3.80. Gabelli also issued estimates for Verizon Communications’ FY2019 earnings at $4.05 EPS.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s revenue was up 2.5% on a year-over-year basis.
A number of other research analysts have also weighed in on VZ. Cowen reaffirmed a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 19th. Robert W. Baird reiterated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research note on Wednesday, October 4th. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a research note on Wednesday, October 11th. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Finally, SunTrust Banks restated a “hold” rating and issued a $50.00 price target on shares of Verizon Communications in a research note on Friday, October 20th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $51.98.
Shares of Verizon Communications (NYSE:VZ) traded up $0.43 during trading hours on Monday, hitting $52.11. The stock had a trading volume of 15,570,000 shares, compared to its average volume of 16,410,000. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $53.69. 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 company has a market cap of $212,580.00, a price-to-earnings ratio of 13.36, a P/E/G ratio of 4.80 and a beta of 0.57.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Oakmont Partners LLC increased its position in shares of Verizon Communications by 0.3% in the 2nd quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after acquiring an additional 22 shares during the period. Conservest Capital Advisors Inc. increased its position in shares of Verizon Communications by 0.5% in the 2nd quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after acquiring an additional 23 shares during the period. Regal Wealth Group Inc. increased its position in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the period. Glassman Wealth Services increased its position in shares of Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after acquiring an additional 31 shares during the period. Finally, Nottingham Advisors Inc. boosted its holdings in Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 63.21% of the company’s stock.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.13% of the company’s stock.
The business also recently disclosed 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 annualized dividend and a yield of 4.53%. Verizon Communications’s payout ratio is currently 60.51%.
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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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