Verizon Communications (NYSE:VZ) – Stock analysts at Jefferies Group dropped their Q3 2018 earnings per share estimates for shares of Verizon Communications in a research report issued to clients and investors on Wednesday, April 25th. Jefferies Group analyst S. Goldman now forecasts that the cell phone carrier will post earnings per share of $1.16 for the quarter, down from their previous estimate of $1.17. Jefferies Group also issued estimates for Verizon Communications’ Q4 2018 earnings at $1.12 EPS.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, April 24th. The cell phone carrier reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.06. The company had revenue of $31.77 billion for the quarter, compared to the consensus estimate of $31.25 billion. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. Verizon Communications’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share.
VZ has been the topic of a number of other reports. Vetr upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 target price on the stock in a research report on Monday, February 5th. Barclays upgraded Verizon Communications from an “equal weight” rating to an “overweight” rating and set a $56.00 target price on the stock in a research report on Monday. KeyCorp boosted their target price on Verizon Communications from $50.00 to $53.00 and gave the stock a “sector weight” rating in a research report on Tuesday, January 2nd. Moffett Nathanson upgraded Verizon Communications from a “neutral” rating to a “buy” rating in a research report on Wednesday, February 28th. Finally, HSBC upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $55.00 target price on the stock in a research report on Wednesday, March 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $54.75.
VZ opened at $50.10 on Thursday. The company has a current ratio of 0.98, a quick ratio of 0.87 and a debt-to-equity ratio of 2.15. The firm has a market cap of $205,035.95, a price-to-earnings ratio of 13.40, a PEG ratio of 2.01 and a beta of 0.64. Verizon Communications has a one year low of $42.80 and a one year high of $54.77.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Stockholders of record on Tuesday, April 10th will be given a $0.59 dividend. The ex-dividend date is Monday, April 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.71%. Verizon Communications’s dividend payout ratio is currently 63.10%.
In other news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total value of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.09% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Glassman Wealth Services increased its stake in Verizon Communications by 0.4% during the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after acquiring an additional 31 shares during the last quarter. DF Dent & Co. Inc. increased its stake in Verizon Communications by 0.6% during the second quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock worth $380,000 after acquiring an additional 50 shares during the last quarter. Keel Point LLC increased its stake in Verizon Communications by 0.6% during the second quarter. Keel Point LLC now owns 12,359 shares of the cell phone carrier’s stock worth $552,000 after acquiring an additional 78 shares during the last quarter. Balentine LLC increased its stake in Verizon Communications by 1.7% during the second quarter. Balentine LLC now owns 5,389 shares of the cell phone carrier’s stock worth $241,000 after acquiring an additional 91 shares during the last quarter. Finally, Miles Capital Inc. increased its stake 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 acquiring an additional 127 shares during the last quarter. Hedge funds and other institutional investors own 64.04% of the company’s stock.
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About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.
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