$0.88 Earnings Per Share Expected for Verizon Communications Inc. (VZ) This Quarter
Brokerages forecast that Verizon Communications Inc. (NYSE:VZ) will report $0.88 earnings per share (EPS) for the current quarter, according to Zacks. Seventeen analysts have made estimates for Verizon Communications’ earnings, with the lowest EPS estimate coming in at $0.81 and the highest estimate coming in at $0.93. Verizon Communications posted earnings per share of $0.86 during the same quarter last year, which would suggest a positive year-over-year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report on Tuesday, January 23rd.
According to Zacks, analysts expect that Verizon Communications will report full year earnings of $3.77 per share for the current fiscal year, with EPS estimates ranging from $3.68 to $3.83. For the next year, analysts expect that the business will report earnings of $3.89 per share, with EPS estimates ranging from $3.76 to $4.04. Zacks Investment Research’s earnings per share averages are an average based on a survey of research firms that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its 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 net margin of 12.80% and a return on equity of 58.66%. The company had revenue of $31.70 billion for the quarter, compared to analyst estimates of $31.45 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year.
Several equities research analysts recently commented on VZ shares. Vetr raised shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price objective on the stock in a research note on Wednesday, July 5th. Royal Bank Of Canada reissued a “hold” rating and set a $48.00 price objective on shares of Verizon Communications in a research note on Sunday, July 9th. Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a research note on Friday, July 7th. BidaskClub raised shares of Verizon Communications from a “strong sell” rating to a “sell” rating in a research note on Monday, July 31st. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a research note on Wednesday, June 28th. Two investment analysts have rated the stock with a sell rating, twenty have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $52.75.
Shares of Verizon Communications (VZ) opened at 48.99 on Tuesday. The firm has a market cap of $199.85 billion, a price-to-earnings ratio of 12.59 and a beta of 0.56. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.83. The company has a 50 day moving average of $48.55 and a 200-day moving average of $47.01.
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 issued a dividend of $0.59 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.58. This represents a $2.36 dividend on an annualized basis and a yield of 4.82%. The ex-dividend date of this dividend is Friday, October 6th. Verizon Communications’s dividend payout ratio is currently 60.51%.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction that occurred on Friday, July 28th. The shares were sold at an average price of $47.74, for a total transaction of $29,121.40. Following the completion of the sale, the executive vice president now directly owns 7,819 shares of the company’s stock, valued at $373,279.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Over the last ninety days, insiders have sold 1,830 shares of company stock valued at $88,828. 0.13% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in VZ. Franklin Parlapiano Turner & Welch LLC purchased a new stake in Verizon Communications during the first quarter valued at approximately $136,000. American Beacon Advisors Inc. purchased a new stake in Verizon Communications during the first quarter valued at approximately $140,000. Proficio Capital Partners LLC increased its holdings in Verizon Communications by 139.8% during the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the last quarter. Private Vista LLC increased its holdings in Verizon Communications by 3,339.1% during the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after buying an additional 378,225 shares during the last quarter. Finally, Mountain Capital Investment Advisors Inc purchased a new stake in Verizon Communications during the second quarter valued at approximately $156,000. 62.22% of the stock is owned by institutional investors and hedge funds.
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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