Verizon Communications Inc. (NYSE:VZ) – Investment analysts at Oppenheimer Holdings cut their Q4 2017 earnings estimates for shares of Verizon Communications in a report issued on Tuesday. Oppenheimer Holdings analyst T. Horan now expects that the cell phone carrier will post earnings per share of $0.84 for the quarter, down from their prior forecast of $0.89.

Other equities research analysts have also issued reports about the company. Citigroup Inc reissued a “buy” rating on shares of Verizon Communications in a research report on Tuesday, January 24th. Drexel Hamilton reissued a “buy” rating and issued a $54.00 price target on shares of Verizon Communications in a research report on Tuesday, January 24th. HSBC Holdings plc raised Verizon Communications from a “hold” rating to a “buy” rating and set a $61.00 price target for the company in a research report on Thursday, January 19th. Vetr raised Verizon Communications from a “hold” rating to a “buy” rating and set a $52.98 price target for the company in a research report on Tuesday, January 24th. Finally, Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and increased their price target for the company from $53.00 to $54.00 in a research report on Tuesday, February 21st. One analyst has rated the stock with a sell rating, twenty-three have issued a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $54.23.

Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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Shares of Verizon Communications (NYSE:VZ) traded down 2.48% during mid-day trading on Friday, reaching $47.21. 20,396,955 shares of the company’s stock traded hands. The company has a 50 day moving average of $49.32 and a 200 day moving average of $49.96. Verizon Communications has a 12 month low of $46.01 and a 12 month high of $56.95. The company has a market cap of $192.46 billion, a price-to-earnings ratio of 14.71 and a beta of 0.43. Verizon Communications also was the target of some unusual options trading on Tuesday. Stock traders bought 42,074 call options on the company. This is an increase of 391% compared to the average daily volume of 8,574 call options.

Verizon Communications (NYSE:VZ) last announced its earnings results on Thursday, April 20th. The cell phone carrier reported $0.95 EPS for the quarter, missing the consensus estimate of $0.98 by $0.03. The company had revenue of $29.81 billion for the quarter, compared to analyst estimates of $30.41 billion. Verizon Communications had a return on equity of 72.75% and a net margin of 10.42%. The business’s quarterly revenue was down 7.3% on a year-over-year basis. During the same quarter last year, the business posted $1.06 earnings per share.

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 1st. Shareholders of record on Monday, April 10th will be issued a $0.5775 dividend. The ex-dividend date of this dividend is Thursday, April 6th. This represents a $2.31 annualized dividend and a dividend yield of 4.77%. Verizon Communications’s payout ratio is currently 71.74%.

In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction dated Monday, March 27th. The stock was sold at an average price of $49.66, for a total value of $30,292.60. Following the sale, the executive vice president now owns 10,259 shares of the company’s stock, valued at approximately $509,461.94. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Roger Gurnani sold 10,804 shares of the firm’s stock in a transaction dated Thursday, February 23rd. The shares were sold at an average price of $50.29, for a total value of $543,333.16. Following the completion of the sale, the executive vice president now directly owns 63,734 shares in the company, valued at approximately $3,205,182.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 56,163 shares of company stock worth $2,786,879. Insiders own 0.10% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Ruggie Capital Group boosted its stake in Verizon Communications by 0.3% in the third quarter. Ruggie Capital Group now owns 2,649 shares of the cell phone carrier’s stock valued at $137,000 after buying an additional 9 shares during the last quarter. Dillon & Associates Inc. boosted its stake in Verizon Communications by 0.3% in the third quarter. Dillon & Associates Inc. now owns 4,319 shares of the cell phone carrier’s stock valued at $225,000 after buying an additional 14 shares during the last quarter. Alpha Windward LLC boosted its stake in Verizon Communications by 0.4% in the third quarter. Alpha Windward LLC now owns 4,974 shares of the cell phone carrier’s stock valued at $259,000 after buying an additional 21 shares during the last quarter. Psagot Investment House Ltd. boosted its stake in Verizon Communications by 0.5% in the fourth quarter. Psagot Investment House Ltd. now owns 6,032 shares of the cell phone carrier’s stock valued at $322,000 after buying an additional 32 shares during the last quarter. Finally, Lourd Capital LLC boosted its stake in Verizon Communications by 0.4% in the third quarter. Lourd Capital LLC now owns 11,729 shares of the cell phone carrier’s stock valued at $610,000 after buying an additional 42 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Verizon Communications Company Profile

Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.

5 Day Chart for NYSE:VZ

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