Verizon Communications Inc. (NYSE:VZ) – Equities research analysts at Gabelli decreased their FY2018 earnings estimates for Verizon Communications in a research report issued on Thursday. Gabelli analyst S. Dluzhevskiy now anticipates that the cell phone carrier will post earnings of $4.55 per share for the year, down from their prior forecast of $4.95. Gabelli also issued estimates for Verizon Communications’ FY2019 earnings at $4.75 EPS, FY2020 earnings at $5.00 EPS and FY2021 earnings at $5.20 EPS.
VZ has been the topic of several other research reports. Nomura raised shares of Verizon Communications from a “neutral” rating to a “buy” rating and upped their target price for the stock from $47.00 to $61.00 in a report on Tuesday, December 12th. KeyCorp reaffirmed a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Macquarie reaffirmed a “hold” rating and issued a $52.00 target price on shares of Verizon Communications in a report on Sunday, October 22nd. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, HSBC lowered shares of Verizon Communications from a “buy” rating to a “hold” rating and lowered their target price for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $53.13.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a return on equity of 214.12% and a net margin of 55.32%. The firm had revenue of $33.96 billion during the quarter, compared to the consensus estimate of $33.20 billion. During the same period in the previous year, the company posted $0.86 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Legacy Advisors LLC bought a new position in shares of Verizon Communications in the 3rd quarter valued at about $132,000. Shine Investment Advisory Services Inc. raised its position in shares of Verizon Communications by 190.9% in the 3rd quarter. Shine Investment Advisory Services Inc. now owns 2,705 shares of the cell phone carrier’s stock valued at $134,000 after acquiring an additional 1,775 shares during the period. Private Vista LLC raised its position in shares of Verizon Communications by 3,339.1% in the 2nd quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after acquiring an additional 378,225 shares during the period. Mountain Capital Investment Advisors Inc acquired a new stake in shares of Verizon Communications in the 2nd quarter valued at approximately $156,000. Finally, Regal Wealth Group Inc. raised its position 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 period. 63.14% of the stock is currently owned by institutional investors.
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 sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at approximately $154,983.29. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.13% of the stock is owned by corporate insiders.
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 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date is Tuesday, January 9th. Verizon Communications’s dividend payout ratio is currently 32.07%.
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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