Brokerages forecast that Verizon Communications Inc. (NYSE:VZ) will announce $1.12 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Thirteen analysts have issued estimates for Verizon Communications’ earnings, with estimates ranging from $1.02 to $1.18. Verizon Communications reported earnings of $0.95 per share in the same quarter last year, which suggests a positive year over year growth rate of 17.9%. The firm is scheduled to announce its next earnings report on Thursday, April 19th.
On average, analysts expect that Verizon Communications will report full year earnings of $4.52 per share for the current financial year, with EPS estimates ranging from $3.94 to $4.66. For the next year, analysts expect that the business will report earnings of $4.66 per share, with EPS estimates ranging from $4.11 to $5.13. Zacks Investment Research’s EPS averages are a mean average based on a survey of research firms that that provide coverage for Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.88 by ($0.02). The business had revenue of $33.96 billion for the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS.
A number of analysts recently issued reports on VZ shares. Nomura increased their target price on shares of Verizon Communications from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Bank of America upped their price target on Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, January 24th. Instinet upped their price target on Verizon Communications from $47.00 to $61.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target for the company in a report on Monday, January 22nd. 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 presently has an average rating of “Hold” and a consensus price target of $53.69.
Verizon Communications stock traded down $0.62 on Tuesday, reaching $47.69. 10,765,457 shares of the company were exchanged, compared to its average volume of 18,354,938. The firm has a market cap of $200,453.94, a P/E ratio of 6.48, a PEG 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 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 also recently announced a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be paid a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.95%. The ex-dividend date is Monday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 32.07%.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 16,059 shares in the company, valued at approximately $799,738.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.13% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in VZ. Exane Derivatives acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $103,000. Earnest Partners LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $103,000. Stelac Advisory Services LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $111,000. Wagner Wealth Management LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $129,000. Finally, Avestar Capital LLC acquired a new stake in shares of Verizon Communications during the 4th quarter valued at approximately $131,000. Institutional investors own 63.98% of the company’s stock.
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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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