Verizon Communications (NYSE:VZ) announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02), Bloomberg Earnings reports. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same period in the prior year, the firm earned $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis.
Shares of Verizon Communications (NYSE:VZ) traded down $0.57 during trading hours on Wednesday, hitting $49.51. The stock had a trading volume of 17,449,018 shares, compared to its average volume of 18,830,000. Verizon Communications has a one year low of $42.80 and a one year high of $54.77. The firm has a market cap of $201,970.00, a P/E ratio of 15.19, a PEG ratio of 2.04 and a beta of 0.58. The company has a debt-to-equity ratio of 2.54, a current ratio of 0.91 and a quick ratio of 0.87.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were given a dividend of $0.59 per share. The ex-dividend date was Tuesday, January 9th. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.77%. Verizon Communications’s dividend payout ratio (DPR) is presently 72.39%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.13% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Mountain Capital Investment Advisors Inc acquired a new position in shares of Verizon Communications in the second quarter worth $156,000. Almanack Investment Partners LLC. acquired a new position in Verizon Communications during the second quarter worth $189,000. Cedar Capital LLC acquired a new position in Verizon Communications during the second quarter worth $205,000. Miles Capital Inc. increased its position in Verizon Communications by 2.8% during the second quarter. Miles Capital Inc. now owns 4,653 shares of the cell phone carrier’s stock worth $208,000 after buying an additional 127 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC acquired a new position in Verizon Communications during the second quarter worth $219,000. 63.31% of the stock is currently owned by institutional investors and hedge funds.
A number of research analysts recently weighed in on VZ shares. Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price on the stock in a report on Monday, January 22nd. Bank of America set a $52.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research note on Friday, October 20th. Instinet boosted their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Nomura upgraded Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $47.00 to $61.00 in a research note on Tuesday, December 12th. Finally, ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday, December 1st. One analyst has rated the stock with a sell rating, fifteen have issued a hold rating and ten have given a buy rating to the company’s stock. Verizon Communications has a consensus rating of “Hold” and an average target price of $53.51.
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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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