Verizon Communications Inc. (VZ) Expected to Earn Q1 2018 Earnings of $1.01 Per Share
Verizon Communications Inc. (NYSE:VZ) – Equities research analysts at KeyCorp issued their Q1 2018 earnings per share (EPS) estimates for Verizon Communications in a research note issued on Thursday. KeyCorp analyst B. Nispel expects that the cell phone carrier will earn $1.01 per share for the quarter. KeyCorp currently has a “Hold” rating on the stock. KeyCorp also issued estimates for Verizon Communications’ Q2 2018 earnings at $1.01 EPS, Q3 2018 earnings at $1.04 EPS, Q4 2018 earnings at $0.97 EPS and FY2018 earnings at $4.03 EPS.
Other equities analysts have also issued reports about the company. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research note on Tuesday, August 8th. Moffett Nathanson reissued a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Macquarie reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Sunday. Cowen and Company reissued a “hold” rating and set a $52.00 price target on shares of Verizon Communications in a research note on Friday, July 28th. Finally, Bank of America Corporation dropped their price target on Verizon Communications from $59.00 to $50.00 and set a “buy” rating for the company in a research note on Thursday, July 13th. Two research analysts have rated the stock with a sell rating, twenty-one have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $53.10.
Verizon Communications (NYSE:VZ) opened at 49.53 on Monday. The company’s 50 day moving average price is $48.52 and its 200-day moving average price is $47.03. The stock has a market capitalization of $202.05 billion, a PE ratio of 12.73 and a beta of 0.56. Verizon Communications has a one year low of $42.80 and a one year high of $54.83.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.98. The company had revenue of $31.70 billion for the quarter, compared to analysts’ expectations 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 for the quarter was up 2.5% compared to the same quarter last year. During the same period last year, the firm posted $1.01 EPS.
The business 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%. The ex-dividend date is Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s dividend payout ratio (DPR) is 60.51%.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction on Friday, July 28th. The stock was sold at an average price of $47.74, for a total transaction of $29,121.40. Following the sale, the executive vice president now owns 7,819 shares of the company’s stock, valued at approximately $373,279.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have sold a total of 1,830 shares of company stock worth $88,828 in the last ninety days. Insiders own 0.13% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Alta Capital Management LLC boosted its position in Verizon Communications by 3.0% during the 3rd quarter. Alta Capital Management LLC now owns 36,985 shares of the cell phone carrier’s stock valued at $1,830,000 after acquiring an additional 1,081 shares in the last quarter. Carnick & Kubik Group LLC bought a new stake in Verizon Communications during the 3rd quarter valued at $1,425,000. Farmers & Merchants Investments Inc. boosted its position in Verizon Communications by 2.0% during the 3rd quarter. Farmers & Merchants Investments Inc. now owns 263,765 shares of the cell phone carrier’s stock valued at $13,054,000 after acquiring an additional 5,126 shares in the last quarter. Foster & Motley Inc. boosted its position in Verizon Communications by 0.6% during the 3rd quarter. Foster & Motley Inc. now owns 199,683 shares of the cell phone carrier’s stock valued at $9,882,000 after acquiring an additional 1,138 shares in the last quarter. Finally, Farmers & Merchants Trust Co of Chambersburg PA boosted its position in Verizon Communications by 5.7% during the 3rd quarter. Farmers & Merchants Trust Co of Chambersburg PA now owns 64,684 shares of the cell phone carrier’s stock valued at $3,201,000 after acquiring an additional 3,476 shares in the last quarter. 62.22% of the stock is currently owned by institutional investors and hedge funds.
About Verizon Communications
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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