Verizon Communications Inc. (VZ) to Post Q3 2017 Earnings of $0.97 Per Share, Jefferies Group Forecasts
Verizon Communications Inc. (NYSE:VZ) – Investment analysts at Jefferies Group boosted their Q3 2017 earnings per share estimates for Verizon Communications in a research report issued to clients and investors on Thursday. Jefferies Group analyst M. Mccormack now forecasts that the cell phone carrier will post earnings per share of $0.97 for the quarter, up from their prior forecast of $0.95. Jefferies Group has a “Hold” rating and a $50.00 price objective on the stock. Jefferies Group also issued estimates for Verizon Communications’ Q4 2017 earnings at $0.88 EPS and FY2018 earnings at $3.77 EPS.
A number of other research analysts have also recently issued reports on the stock. Robert W. Baird restated a “hold” rating and set a $49.00 price objective on shares of Verizon Communications in a report on Wednesday. Cowen and Company restated a “hold” rating and set a $52.00 price objective on shares of Verizon Communications in a report on Tuesday, September 19th. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a report on Monday, July 31st. Finally, Royal Bank Of Canada boosted their price objective on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications currently has an average rating of “Hold” and an average target price of $52.86.
Verizon Communications (VZ) opened at 49.77 on Friday. The firm has a market cap of $203.03 billion, a price-to-earnings ratio of 12.79 and a beta of 0.56. The company has a 50-day moving average of $48.37 and a 200-day moving average of $47.09. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, hitting analysts’ consensus estimates of $0.96. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. The firm had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. During the same quarter last year, the business posted $0.94 EPS. The company’s revenue was up .1% on a year-over-year basis.
Institutional investors and hedge funds have recently modified their holdings of the company. Franklin Parlapiano Turner & Welch LLC bought a new position in shares of Verizon Communications in the first quarter valued at about $136,000. American Beacon Advisors Inc. bought a new position in shares of Verizon Communications in the first quarter valued at about $140,000. Proficio Capital Partners LLC raised its position in shares of Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after purchasing an additional 1,841 shares during the period. Private Vista LLC raised its position in shares of Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after purchasing an additional 378,225 shares during the period. Finally, Mountain Capital Investment Advisors Inc bought a new position in shares of Verizon Communications in the second quarter valued at about $156,000. 62.24% of the stock is currently owned by institutional investors.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $48.65, for a total transaction of $29,676.50. Following the sale, the executive vice president now directly owns 7,209 shares of the company’s stock, valued at $350,717.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have sold 1,830 shares of company stock worth $88,828 over the last ninety days. Insiders own 0.13% of the company’s stock.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.59 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 annualized dividend and a yield of 4.74%. The ex-dividend date is Friday, October 6th. Verizon Communications’s dividend payout ratio is 59.23%.
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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