Wall Street analysts expect Verizon Communications (NYSE:VZ) to report earnings of $1.11 per share for the current fiscal quarter, according to Zacks Investment Research. Fourteen analysts have issued estimates for Verizon Communications’ earnings, with the lowest EPS estimate coming in at $1.07 and the highest estimate coming in at $1.18. Verizon Communications reported earnings of $0.95 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 16.8%. The firm is expected to issue its next quarterly earnings report before the market opens on Tuesday, April 24th.
According to Zacks, analysts expect that Verizon Communications will report full-year earnings of $4.54 per share for the current year, with EPS estimates ranging from $4.36 to $4.65. For the next fiscal year, analysts expect that the firm will report earnings of $4.68 per share, with EPS estimates ranging from $4.45 to $5.13. Zacks Investment Research’s earnings per share calculations are an average based on a survey of sell-side research analysts that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). The firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business’s quarterly revenue was up 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $0.86 EPS.
VZ has been the subject of several research analyst reports. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $56.00 price target for the company in a research report on Tuesday, February 13th. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $54.80 price target for the company in a research report on Monday, February 5th. Nomura upped their price target 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 shares of Verizon Communications from $55.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, January 24th. Finally, Scotiabank raised shares of Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 price target for the company in a research report on Monday, January 22nd. One research analyst has rated the stock with a sell rating, thirteen have given a hold rating and twelve have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $54.24.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $49.80, for a total transaction of $346,956.60. Following the completion of the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.09% of the stock is owned by insiders.
Several hedge funds have recently made changes to their positions in VZ. Exane Derivatives bought a new position in Verizon Communications during the 4th quarter valued at $103,000. Earnest Partners LLC bought a new position in Verizon Communications during the 4th quarter valued at $103,000. Stelac Advisory Services LLC bought a new position in Verizon Communications during the 4th quarter valued at $111,000. Wagner Wealth Management LLC bought a new position in Verizon Communications during the 4th quarter valued at $129,000. Finally, Avestar Capital LLC bought a new position in Verizon Communications during the 4th quarter valued at $131,000. Institutional investors and hedge funds own 64.01% of the company’s stock.
NYSE:VZ opened at $48.62 on Monday. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $199,752.17, a PE ratio of 13.00, a PEG ratio of 1.97 and a beta of 0.64. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.77.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be paid a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 annualized dividend and a yield of 4.85%. Verizon Communications’s dividend payout ratio is currently 63.10%.
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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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