Verizon Communications Inc. to Post Q1 2018 Earnings of $0.93 Per Share, Jefferies Group Forecasts (VZ)
Verizon Communications Inc. (NYSE:VZ) – Equities research analysts at Jefferies Group issued their Q1 2018 earnings estimates for shares of Verizon Communications in a research report issued on Friday. Jefferies Group analyst M. Mccormack forecasts that the cell phone carrier will earn $0.93 per share for the quarter. Jefferies Group currently has a “Hold” rating and a $50.00 price objective on the stock. Jefferies Group also issued estimates for Verizon Communications’ Q2 2018 earnings at $0.95 EPS, Q3 2018 earnings at $0.99 EPS, Q4 2018 earnings at $0.91 EPS and FY2018 earnings at $3.78 EPS.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the previous year, the firm earned $1.01 earnings per share. The company’s revenue was up 2.5% on a year-over-year basis.
A number of other equities analysts have also issued reports on the company. Vetr raised Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target for the company in a research note on Wednesday, July 5th. Royal Bank Of Canada reiterated a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research report on Sunday, July 9th. Zacks Investment Research upgraded Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. BidaskClub upgraded Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reiterated a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have issued a buy rating and one has given a strong buy rating to the company’s stock. Verizon Communications presently has an average rating of “Hold” and an average price target of $53.10.
Shares of Verizon Communications (NYSE VZ) opened at 49.53 on Monday. The stock has a market cap of $202.05 billion, a price-to-earnings ratio of 12.73 and a beta of 0.56. Verizon Communications has a 52 week low of $42.80 and a 52 week high of $54.83. The stock’s 50 day moving average price is $48.52 and its 200-day moving average price is $47.03.
The firm also recently announced 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 represents a $2.36 annualized dividend 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%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $49.23, for a total transaction of $30,030.30. Following the transaction, the executive vice president now directly owns 6,599 shares of the company’s stock, valued at $324,868.77. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have sold 1,830 shares of company stock worth $88,828 over the last three months. Company insiders own 0.13% of the company’s stock.
A number of institutional investors have recently bought and sold shares of VZ. Hengehold Capital Management LLC increased its position in Verizon Communications by 6.1% during the first quarter. Hengehold Capital Management LLC now owns 42,667 shares of the cell phone carrier’s stock worth $2,080,000 after buying an additional 2,439 shares during the last quarter. Round Table Services LLC increased its position in Verizon Communications by 10.9% during the first quarter. Round Table Services LLC now owns 5,398 shares of the cell phone carrier’s stock worth $263,000 after buying an additional 530 shares during the last quarter. Gemmer Asset Management LLC increased its position in Verizon Communications by 52.6% during the first quarter. Gemmer Asset Management LLC now owns 10,588 shares of the cell phone carrier’s stock worth $516,000 after buying an additional 3,651 shares during the last quarter. Rockland Trust Co. increased its position in Verizon Communications by 4.4% during the first quarter. Rockland Trust Co. now owns 348,070 shares of the cell phone carrier’s stock worth $16,968,000 after buying an additional 14,784 shares during the last quarter. Finally, Sanders Morris Harris Inc. increased its position in Verizon Communications by 44.7% during the first quarter. Sanders Morris Harris Inc. now owns 7,170 shares of the cell phone carrier’s stock worth $350,000 after buying an additional 2,215 shares during the last quarter. 62.22% of the stock is currently owned by hedge funds and other institutional investors.
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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