Wall Street brokerages predict that Verizon Communications Inc. (NYSE:VZ) will announce earnings per share of $1.17 for the current fiscal quarter, according to Zacks Investment Research. Seventeen analysts have provided estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.21 and the lowest estimate coming in at $1.13. Verizon Communications also reported earnings per share of $1.17 during the same quarter last year. The firm is scheduled to issue its next earnings report on Tuesday, April 23rd.
On average, analysts expect that Verizon Communications will report full year earnings of $4.66 per share for the current year, with EPS estimates ranging from $4.61 to $4.71. For the next financial year, analysts forecast that the business will report earnings of $4.79 per share, with EPS estimates ranging from $4.70 to $4.92. Zacks Investment Research’s earnings per share calculations are an average based on a survey of research firms that that provide coverage for Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The company had revenue of $34.28 billion for the quarter, compared to the consensus estimate of $34.45 billion. During the same period last year, the firm posted $0.86 EPS. The company’s revenue for the quarter was up 1.0% on a year-over-year basis.
VZ has been the topic of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 price target on the stock. in a research report on Sunday, December 9th. Morgan Stanley cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 price objective on the stock. in a report on Wednesday, December 12th. ValuEngine cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Tuesday, January 29th. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Friday, December 28th. Finally, Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research note on Saturday, January 26th. Nine research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $55.76.
Verizon Communications stock opened at $57.50 on Friday. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. Verizon Communications has a 1 year low of $46.08 and a 1 year high of $61.58. The stock has a market capitalization of $239.71 billion, a PE ratio of 12.21, a price-to-earnings-growth ratio of 3.02 and a beta of 0.50.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th will be paid a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.41 annualized dividend and a yield of 4.19%. Verizon Communications’s payout ratio is 51.17%.
In other news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $57.12, for a total value of $77,054.88. Following the transaction, the executive vice president now owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction that occurred on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total transaction of $16,221,239.36. Following the completion of the transaction, the director now directly owns 362,932 shares in the company, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. 0.09% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares during the period. Vanguard Group Inc boosted its holdings in shares of Verizon Communications by 1.3% during the third quarter. Vanguard Group Inc now owns 303,821,942 shares of the cell phone carrier’s stock worth $16,221,053,000 after purchasing an additional 3,957,224 shares during the period. BlackRock Inc. boosted its holdings in shares of Verizon Communications by 8.4% during the fourth quarter. BlackRock Inc. now owns 299,574,099 shares of the cell phone carrier’s stock worth $16,842,056,000 after purchasing an additional 23,309,257 shares during the period. Capital World Investors boosted its holdings in shares of Verizon Communications by 9.9% during the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock worth $3,829,877,000 after purchasing an additional 6,485,041 shares during the period. Finally, FMR LLC boosted its holdings in shares of Verizon Communications by 8.6% during the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock worth $3,479,704,000 after purchasing an additional 5,481,532 shares during the period. 65.75% of the stock is currently owned by institutional investors.
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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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