Verizon Communications Inc. (VZ) Expected to Post Earnings of $0.88 Per Share

Analysts expect that Verizon Communications Inc. (NYSE:VZ) will announce $0.88 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Sixteen analysts have provided estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $0.97 and the lowest estimate coming in at $0.81. Verizon Communications reported earnings of $0.86 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.3%. The firm is expected to announce its next 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 year, with EPS estimates ranging from $3.73 to $3.86. For the next financial year, analysts anticipate that the business will report earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.04. Zacks Investment Research’s earnings per share averages are a mean average based on a survey of sell-side research analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, hitting the 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 during the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the business posted $1.01 EPS. The business’s revenue was up 2.5% on a year-over-year basis.

VZ has been the subject of several research analyst reports. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a research note on Friday. Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a research note on Thursday, October 12th. Bank of America set a $52.00 target price on Verizon Communications and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Macquarie restated a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a research note on Sunday, October 22nd. Two analysts have rated the stock with a sell rating, nineteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $51.25.

In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total value of $29,658.20. Following the transaction, the executive vice president now directly owns 5,989 shares in the company, valued at $291,185.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 1,830 shares of company stock valued at $88,609 in the last three months. 0.13% of the stock is currently owned by corporate insiders.

Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock worth $12,634,070,000 after acquiring an additional 5,837,702 shares during the last quarter. State Street Corp increased its stake in Verizon Communications by 1.2% during the first quarter. State Street Corp now owns 168,115,884 shares of the cell phone carrier’s stock worth $8,195,661,000 after acquiring an additional 2,066,816 shares during the last quarter. Capital Research Global Investors increased its stake in Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock worth $6,851,202,000 after acquiring an additional 20,070,391 shares during the last quarter. FMR LLC increased its stake in Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock worth $2,761,466,000 after acquiring an additional 8,077,275 shares during the last quarter. Finally, Legal & General Group Plc increased its stake in Verizon Communications by 2.7% during the third quarter. Legal & General Group Plc now owns 24,495,234 shares of the cell phone carrier’s stock worth $1,212,227,000 after acquiring an additional 636,014 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Verizon Communications (VZ) traded up $0.36 during midday trading on Friday, reaching $51.25. The company’s stock had a trading volume of 23,907,595 shares, compared to its average volume of 15,615,377. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. The stock has a market cap of $209,070.00, a PE ratio of 13.02, a P/E/G ratio of 4.58 and a beta of 0.55.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th were issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.60%. The ex-dividend date of this dividend was Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is currently 60.51%.

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

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