Verizon Communications Inc. (VZ) Set to Announce Quarterly Earnings on Thursday
Verizon Communications Inc. (NYSE:VZ) will be issuing its quarterly earnings data before the market opens on Thursday, October 19th. Analysts expect the company to announce earnings of $0.98 per share for the quarter.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. The firm had revenue of $30.55 billion for the quarter, compared to analyst estimates of $29.84 billion. Verizon Communications had a net margin of 12.88% and a return on equity of 63.06%. Verizon Communications’s quarterly revenue was up .1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.94 earnings per share. On average, analysts expect Verizon Communications to post $3.76 EPS for the current fiscal year and $3.82 EPS for the next fiscal year.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 48.86 on Thursday. Verizon Communications Inc. has a 1-year low of $42.80 and a 1-year high of $54.83. The company’s 50-day moving average is $48.48 and its 200 day moving average is $47.04. The firm has a market cap of $199.32 billion, a price-to-earnings ratio of 12.56 and a beta of 0.56.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders 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 dividend yield of 4.83%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s payout ratio is 60.51%.
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In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred 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 completion of 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 SEC, which is available at this link. Over the last three months, insiders have sold 1,830 shares of company stock valued at $88,828. 0.13% of the stock is currently owned by insiders.
Several institutional investors and hedge funds have recently bought and sold shares of VZ. Beach Investment Management LLC. acquired a new position in Verizon Communications during the second quarter valued at approximately $4,320,000. QCI Asset Management Inc. NY grew its holdings in Verizon Communications by 3.1% during the second quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock valued at $13,974,000 after purchasing an additional 9,366 shares during the period. Evergreen Capital Management LLC grew its holdings in Verizon Communications by 5.9% during the second quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock valued at $2,586,000 after purchasing an additional 3,250 shares during the period. Homrich & Berg grew its holdings in Verizon Communications by 11.5% during the second quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock valued at $2,097,000 after purchasing an additional 4,848 shares during the period. Finally, Motco grew its holdings in Verizon Communications by 3.1% during the second quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock valued at $3,764,000 after purchasing an additional 2,514 shares during the period. 62.24% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on VZ. Robert W. Baird reiterated a “hold” rating and set a $49.00 target price on shares of Verizon Communications in a research report on Wednesday, October 4th. Cowen and Company reiterated a “hold” rating and set a $52.00 target price on shares of Verizon Communications in a research report on Tuesday, September 19th. TheStreet upgraded shares of Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday, August 8th. BidaskClub upgraded shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Royal Bank Of Canada lifted their target price on shares of Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, July 31st. Two investment analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $52.86.
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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