Verizon Communications Inc. (NYSE:VZ) – Stock analysts at Oppenheimer Holdings raised their FY2017 earnings estimates for Verizon Communications in a report released on Friday. Oppenheimer Holdings analyst T. Horan now forecasts that the cell phone carrier will earn $3.80 per share for the year, up from their prior estimate of $3.78. Oppenheimer Holdings also issued estimates for Verizon Communications’ Q4 2017 earnings at $0.91 EPS and FY2018 earnings at $4.04 EPS.

Verizon Communications (NYSE:VZ) last posted its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.98. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. ILLEGAL ACTIVITY NOTICE: “Oppenheimer Holdings Equities Analysts Raise Earnings Estimates for Verizon Communications Inc. (VZ)” was reported by American Banking News and is the property of of American Banking News. If you are accessing this news story on another website, it was illegally stolen and republished in violation of US & international trademark & copyright laws. The legal version of this news story can be accessed at https://www.americanbankingnews.com/2017/10/23/oppenheimer-holdings-equities-analysts-raise-earnings-estimates-for-verizon-communications-inc-vz.html.

A number of other equities research analysts also recently issued reports on the company. Macquarie reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research report on Sunday. KeyCorp reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday. Bank of America Corporation set a $52.00 price target on Verizon Communications and gave the stock a “buy” rating in a research report on Friday. SunTrust Banks, Inc. reissued a “hold” rating and set a $50.00 price target on shares of Verizon Communications in a research report on Friday. Finally, Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research report on Thursday, October 12th. Two investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $53.10.

Verizon Communications (NYSE:VZ) opened at 49.53 on Monday. The company has a market cap of $202.05 billion, a P/E ratio of 12.73 and a beta of 0.56. The company’s 50 day moving average price is $48.52 and its 200 day moving average price is $47.03. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.83.

A number of institutional investors have recently modified their holdings of VZ. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications during the 1st quarter worth about $136,000. American Beacon Advisors Inc. acquired a new stake in Verizon Communications during the 1st quarter worth about $140,000. Proficio Capital Partners LLC grew its holdings in Verizon Communications by 139.8% during the 1st quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after acquiring an additional 1,841 shares during the period. Private Vista LLC grew its holdings in Verizon Communications by 3,339.1% during the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock worth $143,000 after acquiring an additional 378,225 shares during the period. Finally, Mountain Capital Investment Advisors Inc acquired a new stake in Verizon Communications during the 2nd quarter worth about $156,000. Hedge funds and other institutional investors own 62.22% of the company’s stock.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $48.65, for a total value of $29,676.50. Following the completion of the sale, the executive vice president now directly owns 7,209 shares in the company, valued at $350,717.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 1,830 shares of company stock valued at $88,828 over the last 90 days. 0.13% of the stock is currently owned by company insiders.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th will be issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a yield of 4.76%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s dividend payout ratio is presently 60.51%.

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.

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

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