Equities analysts expect Verizon Communications Inc. (NYSE:VZ) to post $31.22 billion in sales for the current quarter, Zacks reports. Thirteen analysts have made estimates for Verizon Communications’ earnings. The highest sales estimate is $31.85 billion and the lowest is $30.10 billion. Verizon Communications reported sales of $29.81 billion during the same quarter last year, which indicates a positive year over year growth rate of 4.7%. The firm is expected to report its next earnings report on Thursday, April 19th.
On average, analysts expect that Verizon Communications will report full-year sales of $31.22 billion for the current financial year, with estimates ranging from $126.94 billion to $130.62 billion. For the next year, analysts anticipate that the company will post sales of $129.49 billion per share, with estimates ranging from $126.81 billion to $133.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The company’s revenue was up 2.2% on a year-over-year basis. During the same period last year, the company earned $0.86 EPS.
VZ has been the subject of a number of recent research reports. Nomura raised Verizon Communications from a “neutral” rating to a “buy” rating and increased their target price for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price for the company in a report on Monday, February 5th. KeyCorp increased their target price on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a report on Tuesday, January 2nd. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating in a report on Wednesday, February 28th. Finally, ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, fourteen have issued a hold rating and eleven have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.69.
Verizon Communications (NYSE VZ) traded up $0.27 during trading on Thursday, reaching $48.56. The company’s stock had a trading volume of 25,633,256 shares, compared to its average volume of 16,943,406. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The firm has a market cap of $200,453.94, a PE ratio of 6.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.68. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, May 1st. Investors of record on Tuesday, April 10th will be issued a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.86%. Verizon Communications’s dividend payout ratio is 32.07%.
In related news, SVP Anthony T. Skiadas sold 6,967 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares of the company’s stock, valued at approximately $799,738.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.13% of the company’s stock.
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caxton Associates LP bought a new position in shares of Verizon Communications in the 2nd quarter worth $607,000. E&G Advisors LP lifted its holdings in Verizon Communications by 18.2% during the third quarter. E&G Advisors LP now owns 24,735 shares of the cell phone carrier’s stock worth $1,224,000 after acquiring an additional 3,803 shares in the last quarter. KBC Group NV lifted its holdings in Verizon Communications by 55.2% during the second quarter. KBC Group NV now owns 719,656 shares of the cell phone carrier’s stock worth $32,140,000 after acquiring an additional 256,108 shares in the last quarter. Cutler Investment Counsel LLC lifted its holdings in Verizon Communications by 1.4% during the second quarter. Cutler Investment Counsel LLC now owns 154,181 shares of the cell phone carrier’s stock worth $6,886,000 after acquiring an additional 2,121 shares in the last quarter. Finally, Pax World Management LLC lifted its holdings in Verizon Communications by 10.9% during the second quarter. Pax World Management LLC now owns 31,663 shares of the cell phone carrier’s stock worth $1,414,000 after acquiring an additional 3,100 shares in the last quarter. Hedge funds and other institutional investors own 64.37% of the company’s stock.
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About Verizon Communications
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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