Wall Street brokerages expect Verizon Communications Inc. (NYSE:VZ) to announce $29.91 billion in sales for the current quarter, according to Zacks. Eighteen analysts have issued estimates for Verizon Communications’ earnings. The lowest sales estimate is $29.40 billion and the highest is $30.59 billion. Verizon Communications posted sales of $30.53 billion in the same quarter last year, which suggests a negative year-over-year growth rate of 2%. The company is expected to announce its next quarterly earnings report before the market opens on Thursday, July 27th.

According to Zacks, analysts expect that Verizon Communications will report full-year sales of $29.91 billion for the current fiscal year, with estimates ranging from $119.24 billion to $125.99 billion. For the next fiscal year, analysts forecast that the company will post sales of $123.07 billion per share, with estimates ranging from $118.10 billion to $127.63 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that cover Verizon Communications.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, April 20th. The cell phone carrier reported $0.95 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.98 by $0.03. Verizon Communications had a return on equity of 66.99% and a net margin of 9.92%. The company had revenue of $29.81 billion for the quarter, compared to the consensus estimate of $30.41 billion. During the same period in the prior year, the company earned $1.06 EPS. The firm’s revenue was down 7.3% on a year-over-year basis.

A number of research analysts recently issued reports on VZ shares. Vetr upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $52.26 target price on the stock in a research report on Monday, March 27th. Zacks Investment Research downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating in a research report on Tuesday, April 4th. Royal Bank Of Canada reiterated a “hold” rating and set a $51.00 target price on shares of Verizon Communications in a research report on Friday, April 7th. Barclays PLC dropped their target price on shares of Verizon Communications from $52.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, April 13th. Finally, SunTrust Banks, Inc. started coverage on shares of Verizon Communications in a research report on Tuesday, April 18th. They set a “hold” rating and a $50.00 target price on the stock. One investment analyst has rated the stock with a sell rating, twenty-five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Verizon Communications currently has a consensus rating of “Hold” and an average target price of $53.23.

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Shares of Verizon Communications (NYSE VZ) traded up 0.02% during midday trading on Friday, hitting $44.23. 11,426,562 shares of the stock traded hands. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $56.25. The stock has a market capitalization of $180.43 billion, a P/E ratio of 14.79 and a beta of 0.54. The firm has a 50-day moving average price of $45.13 and a 200-day moving average price of $47.92.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Investors of record on Monday, July 10th will be given a dividend of $0.5775 per share. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.31 annualized dividend and a yield of 5.22%. Verizon Communications’s payout ratio is currently 77.00%.

In related news, EVP Marni M. Walden sold 16,362 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 11,797 shares in the company, valued at $543,605.76. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total transaction of $27,450.00. Following the transaction, the executive vice president now owns 8,429 shares of the company’s stock, valued at approximately $379,305. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,192 shares of company stock valued at $837,958. 0.13% of the stock is owned by company insiders.

Institutional investors have recently bought and sold shares of the stock. Baltimore Washington Financial Advisors Inc. bought a new position in Verizon Communications during the fourth quarter valued at $9,742,000. Sunbelt Securities Inc. acquired a new stake in Verizon Communications during the fourth quarter valued at approximately $115,000. Tortoise Investment Management LLC increased its stake in Verizon Communications by 35.3% in the fourth quarter. Tortoise Investment Management LLC now owns 2,609 shares of the cell phone carrier’s stock valued at $139,000 after buying an additional 680 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications during the first quarter valued at approximately $136,000. Finally, American Beacon Advisors Inc. acquired a new stake in Verizon Communications during the first quarter valued at approximately $140,000. Institutional investors own 62.55% of the company’s stock.

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.

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

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