Equities research analysts forecast that Verizon Communications Inc. (NYSE:VZ) will report $0.88 earnings per share for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have issued estimates for Verizon Communications’ earnings, with the lowest EPS estimate coming in at $0.85 and the highest estimate coming in at $0.97. Verizon Communications reported earnings per share of $0.86 in the same quarter last year, which suggests a positive year over year growth rate of 2.3%. The company is scheduled to report its next quarterly earnings report before the market opens 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 year, analysts anticipate that the business will post earnings of $4.02 per share, with EPS estimates ranging from $3.80 to $4.59. Zacks Investment Research’s earnings per share averages are an average based on a survey of analysts that that provide coverage for Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, hitting the consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analyst estimates 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 period in the prior year, the business posted $1.01 EPS.
In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the transaction, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.13% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Regal Wealth Group Inc. lifted its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after acquiring an additional 24 shares during the last quarter. Glassman Wealth Services lifted its holdings in shares of Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after acquiring an additional 31 shares during the last quarter. Nottingham Advisors Inc. lifted its holdings in shares of Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after acquiring an additional 35 shares during the last quarter. Camden National Bank lifted its holdings in shares of Verizon Communications by 0.7% in the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock valued at $222,000 after acquiring an additional 37 shares during the last quarter. Finally, DF Dent & Co. Inc. lifted its holdings in shares of Verizon Communications by 0.6% in the 2nd quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock valued at $380,000 after acquiring an additional 50 shares during the last quarter. 63.22% of the stock is owned by institutional investors and hedge funds.
Shares of Verizon Communications (NYSE VZ) opened at $51.91 on Monday. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. The company has a market capitalization of $211,760.00, a price-to-earnings ratio of 13.31, a PEG ratio of 4.61 and a beta of 0.57. Verizon Communications has a 12 month low of $42.80 and a 12 month high of $53.69.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 1st. Shareholders of record on Wednesday, January 10th will be issued a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a dividend yield of 4.55%. The ex-dividend date of this dividend is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.
WARNING: This news story was first reported by American Banking News and is the property of of American Banking News. If you are reading this news story on another site, it was illegally copied and reposted in violation of US and international trademark & copyright laws. The correct version of this news story can be viewed at https://www.americanbankingnews.com/2018/01/22/zacks-brokerages-anticipate-verizon-communications-inc-vz-to-announce-0-88-eps.html.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.