Verizon Communications Inc. (VZ) Set to Announce Earnings on Thursday
Verizon Communications Inc. (NYSE:VZ) is scheduled to be posting its quarterly earnings results on Thursday, July 27th. Analysts expect Verizon Communications to post earnings of $0.95 per share for the quarter.
Verizon Communications (NYSE:VZ) last announced its quarterly 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. Verizon Communications had a net margin of 9.92% and a return on equity of 66.99%. The firm had revenue of $29.81 billion during the quarter, compared to analyst estimates of $30.41 billion. During the same quarter in the previous year, the business posted $1.06 EPS. Verizon Communications’s revenue for the quarter was down 7.3% compared to the same quarter last year. On average, analysts expect Verizon Communications to post $3.75 EPS for the current fiscal year and $3.80 EPS for the next fiscal year.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 43.45 on Thursday. The firm has a 50 day moving average of $45.20 and a 200 day moving average of $47.95. The firm has a market cap of $177.25 billion, a price-to-earnings ratio of 14.53 and a beta of 0.54. Verizon Communications Inc. has a 52 week low of $42.80 and a 52 week high of $56.25.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be given a $0.5775 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a yield of 5.32%. Verizon Communications’s dividend payout ratio (DPR) is presently 77.00%.
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A number of equities analysts have commented on the stock. Argus lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Bank of America Corporation restated a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Zacks Investment Research lowered shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 25th. Instinet restated a “neutral” rating and issued a $46.00 price target (down from $47.00) on shares of Verizon Communications in a research report on Sunday, April 23rd. Finally, Royal Bank Of Canada restated a “hold” rating and issued a $48.00 price target on shares of Verizon Communications in a research report on Sunday, July 9th. One analyst has rated the stock with a sell rating, twenty-six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Verizon Communications currently has a consensus rating of “Hold” and an average price target of $53.23.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Thursday, April 27th. The shares were sold at an average price of $47.36, for a total value of $28,889.60. Following the completion of the sale, the executive vice president now owns 9,649 shares of the company’s stock, valued at $456,976.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Marni M. Walden sold 16,362 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The shares were sold at an average price of $46.08, for a total transaction of $753,960.96. Following the completion of the sale, the executive vice president now directly owns 11,797 shares of the company’s stock, valued at approximately $543,605.76. The disclosure for this sale can be found here. Insiders sold 18,192 shares of company stock valued at $837,958 in the last ninety days. Insiders own 0.13% of the company’s stock.
About Verizon Communications
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.
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