Verizon Communications (VZ) Issues Quarterly Earnings Results

Verizon Communications (NYSE:VZ) posted its quarterly earnings results on Tuesday. The cell phone carrier reported $0.86 EPS for the quarter, missing the consensus estimate of $0.88 by ($0.02), Bloomberg Earnings reports. The business had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.86 EPS.

Verizon Communications (NYSE VZ) opened at $53.46 on Tuesday. The company has a market capitalization of $218,090.00, a P/E ratio of 13.71, a P/E/G ratio of 3.49 and a beta of 0.57. The company has a current ratio of 1.07, a quick ratio of 1.02 and a debt-to-equity ratio of 4.05. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $53.69.

The business also recently declared a quarterly dividend, which will be paid on Thursday, February 1st. Investors of record on Wednesday, January 10th will be given a dividend of $0.59 per share. This represents a $2.36 annualized dividend and a yield of 4.41%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 60.51%.

VZ has been the subject of a number of research reports. Moffett Nathanson reiterated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Scotia Howard Weill upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday. KeyCorp reiterated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Howard Weil upgraded Verizon Communications from a “sector perform” rating to a “sector outperform” rating in a report on Monday. Finally, Scotiabank upgraded Verizon Communications from a “sector perform” rating to a “buy” rating and set a $60.00 target price for the company in a report on Monday. Two research analysts have rated the stock with a sell rating, nineteen have issued a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $51.93.

In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.13% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the business. Commerce Bank raised its position in shares of Verizon Communications by 0.3% in the 2nd quarter. Commerce Bank now owns 1,095,210 shares of the cell phone carrier’s stock valued at $48,912,000 after purchasing an additional 3,019 shares in the last quarter. AlphaMark Advisors LLC raised its position in shares of Verizon Communications by 3.1% in the 2nd quarter. AlphaMark Advisors LLC now owns 65,348 shares of the cell phone carrier’s stock valued at $2,918,000 after purchasing an additional 1,986 shares in the last quarter. Cornerstone Advisory LLP raised its position in shares of Verizon Communications by 121.4% in the 2nd quarter. Cornerstone Advisory LLP now owns 29,229 shares of the cell phone carrier’s stock valued at $1,306,000 after purchasing an additional 16,028 shares in the last quarter. Boston Research & Management Inc. raised its position in shares of Verizon Communications by 4.1% in the 2nd quarter. Boston Research & Management Inc. now owns 43,229 shares of the cell phone carrier’s stock valued at $1,930,000 after purchasing an additional 1,700 shares in the last quarter. Finally, Crawford Investment Counsel Inc. raised its position in shares of Verizon Communications by 17.6% in the 2nd quarter. Crawford Investment Counsel Inc. now owns 339,098 shares of the cell phone carrier’s stock valued at $15,144,000 after purchasing an additional 50,748 shares in the last quarter. 63.14% of the stock is currently owned by institutional investors.

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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.

Earnings History for Verizon Communications (NYSE:VZ)

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