Verizon Communications (NYSE:VZ) Releases Earnings Results, Beats Expectations By $0.03 EPS

Verizon Communications (NYSE:VZ) released its earnings results on Thursday. The cell phone carrier reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.03, Morningstar.com reports. The business had revenue of $32.07 billion during the quarter, compared to analysts’ expectations of $32.42 billion. Verizon Communications had a net margin of 12.08% and a return on equity of 34.91%. The company’s quarterly revenue was down .4% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.20 earnings per share.

VZ opened at $55.59 on Friday. The firm has a market capitalization of $228.54 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 2.73 and a beta of 0.53. Verizon Communications has a twelve month low of $51.76 and a twelve month high of $61.58. The stock’s 50-day simple moving average is $57.19. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 2.12.

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 1st. Investors of record on Wednesday, July 10th were given a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.34%. Verizon Communications’s payout ratio is presently 51.17%.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $56.55, for a total transaction of $76,285.95. Following the transaction, the executive vice president now directly owns 24,030 shares in the company, valued at $1,358,896.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 4,047 shares of company stock worth $234,591 over the last 90 days. 0.03% of the stock is currently owned by company insiders.

A number of large investors have recently bought and sold shares of the business. S. R. Schill & Associates raised its stake in shares of Verizon Communications by 2.4% in the fourth quarter. S. R. Schill & Associates now owns 7,625 shares of the cell phone carrier’s stock worth $429,000 after purchasing an additional 178 shares during the last quarter. Hengehold Capital Management LLC lifted its stake in shares of Verizon Communications by 0.4% in the fourth quarter. Hengehold Capital Management LLC now owns 47,560 shares of the cell phone carrier’s stock valued at $2,674,000 after purchasing an additional 179 shares during the period. Cascade Investment Advisors Inc. lifted its stake in shares of Verizon Communications by 21.5% in the fourth quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock valued at $58,000 after purchasing an additional 183 shares during the period. Clearwater Capital Advisors LLC lifted its stake in shares of Verizon Communications by 4.7% in the second quarter. Clearwater Capital Advisors LLC now owns 4,170 shares of the cell phone carrier’s stock valued at $238,000 after purchasing an additional 187 shares during the period. Finally, CKW Financial Group lifted its stake in shares of Verizon Communications by 2.7% in the fourth quarter. CKW Financial Group now owns 7,637 shares of the cell phone carrier’s stock valued at $429,000 after purchasing an additional 200 shares during the period. Institutional investors own 65.59% of the company’s stock.

A number of research firms have recently commented on VZ. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Royal Bank of Canada reissued a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. UBS Group lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $57.70 price target on the stock. in a research report on Thursday, May 30th. They noted that the move was a valuation call. Finally, Citigroup lowered shares of Verizon Communications from a “buy” rating to a “neutral” rating and set a $62.00 price target on the stock. in a research report on Monday, July 8th. Ten research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $59.87.

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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Earnings History for Verizon Communications (NYSE:VZ)

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