Analysts forecast that Verizon Communications Inc. (NYSE:VZ) will announce earnings per share of $1.15 for the current quarter, Zacks Investment Research reports. Nineteen analysts have issued estimates for Verizon Communications’ earnings. The highest EPS estimate is $1.18 and the lowest is $1.07. Verizon Communications posted earnings of $0.96 per share during the same quarter last year, which would suggest a positive year-over-year growth rate of 19.8%. The firm is expected to report its next quarterly earnings report before the market opens on Tuesday, July 24th.
On average, analysts expect that Verizon Communications will report full year earnings of $4.57 per share for the current fiscal year, with EPS estimates ranging from $4.38 to $4.70. For the next fiscal year, analysts anticipate that the company will post earnings of $4.67 per share, with EPS estimates ranging from $4.44 to $4.85. Zacks Investment Research’s earnings per share calculations are a mean average based on a survey of sell-side analysts that cover Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, April 24th. The cell phone carrier reported $1.17 earnings per share for the quarter, topping the consensus estimate of $1.11 by $0.06. Verizon Communications had a return on equity of 42.62% and a net margin of 24.37%. The business had revenue of $31.77 billion during the quarter, compared to analysts’ expectations of $31.25 billion. During the same quarter in the previous year, the firm earned $0.95 EPS. The firm’s revenue was up 6.6% compared to the same quarter last year.
Several research firms recently weighed in on VZ. Vetr cut Verizon Communications from a “strong-buy” rating to a “buy” rating and set a $52.49 price objective for the company. in a research report on Tuesday, April 3rd. Goldman Sachs Group raised Verizon Communications from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $51.00 to $56.00 in a research report on Thursday, June 21st. William Blair reissued a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, April 25th. Jefferies Financial Group began coverage on Verizon Communications in a research report on Thursday, June 7th. They set a “hold” rating and a $52.00 price objective for the company. Finally, JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and set a $58.00 price objective for the company in a research report on Friday, May 11th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $54.62.
NYSE VZ opened at $49.30 on Friday. Verizon Communications has a twelve month low of $42.80 and a twelve month high of $54.77. The company has a quick ratio of 0.94, a current ratio of 0.98 and a debt-to-equity ratio of 2.15. The stock has a market cap of $205.41 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 1.73 and a beta of 0.63.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th will be paid a $0.59 dividend. The ex-dividend date is Monday, July 9th. This represents a $2.36 annualized dividend and a dividend yield of 4.79%. Verizon Communications’s dividend payout ratio is currently 63.10%.
In other news, SVP Anthony T. Skiadas sold 1,974 shares of the company’s stock in a transaction that occurred on Tuesday, May 1st. The stock was sold at an average price of $49.44, for a total value of $97,594.56. Following the sale, the senior vice president now directly owns 16,060 shares in the company, valued at approximately $794,006.40. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.09% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the company. Payden & Rygel grew its position in Verizon Communications by 24.2% during the 3rd quarter. Payden & Rygel now owns 375,600 shares of the cell phone carrier’s stock worth $18,588,000 after acquiring an additional 73,200 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in Verizon Communications by 2.9% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 192,139 shares of the cell phone carrier’s stock worth $9,509,000 after acquiring an additional 5,361 shares during the last quarter. First Allied Advisory Services Inc. grew its position in Verizon Communications by 3.3% during the 3rd quarter. First Allied Advisory Services Inc. now owns 274,293 shares of the cell phone carrier’s stock worth $13,631,000 after acquiring an additional 8,815 shares during the last quarter. Wills Financial Group Inc. grew its position in Verizon Communications by 5.6% during the 3rd quarter. Wills Financial Group Inc. now owns 80,236 shares of the cell phone carrier’s stock worth $3,971,000 after acquiring an additional 4,262 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. grew its position in Verizon Communications by 1.1% during the 3rd quarter. Chevy Chase Trust Holdings Inc. now owns 4,639,111 shares of the cell phone carrier’s stock worth $229,590,000 after acquiring an additional 52,194 shares during the last quarter. Institutional investors own 63.71% of the company’s stock.
Verizon Communications Company Profile
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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