Zacks: Analysts Anticipate Verizon Communications Inc. (VZ) Will Announce Quarterly Sales of $31.12 Billion

Equities research analysts forecast that Verizon Communications Inc. (NYSE:VZ) will report $31.12 billion in sales for the current quarter, Zacks reports. Twelve analysts have issued estimates for Verizon Communications’ earnings, with the highest sales estimate coming in at $31.85 billion and the lowest estimate coming in at $30.10 billion. Verizon Communications reported sales of $29.81 billion during the same quarter last year, which would suggest a positive year over year growth rate of 4.4%. The firm is scheduled to announce its next earnings report on Thursday, April 19th.

According to Zacks, analysts expect that Verizon Communications will report full year sales of $31.12 billion for the current fiscal year, with estimates ranging from $127.80 billion to $130.62 billion. For the next financial year, analysts expect that the business will post sales of $129.26 billion per share, with estimates ranging from $123.50 billion to $133.97 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Verizon Communications.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.88 by ($0.02). The company had revenue of $33.96 billion for the quarter, compared to analysts’ expectations of $33.20 billion. Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.86 earnings per share.

Several brokerages recently weighed in on VZ. KeyCorp lifted their price target on Verizon Communications from $50.00 to $53.00 and gave the company a “sector weight” rating in a research report on Tuesday, January 2nd. Macquarie reiterated a “hold” rating and set a $54.00 price target on shares of Verizon Communications in a research report on Wednesday, January 24th. SunTrust Banks lifted their price target on Verizon Communications to $58.00 and gave the company a “hold” rating in a research report on Wednesday, January 24th. Bank of America lifted their price target on Verizon Communications from $55.00 to $58.00 and gave the company a “buy” rating in a research report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. lifted their price target on Verizon Communications from $52.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $53.37.

In other news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $47.41, for a total value of $28,920.10. Following the sale, the executive vice president now directly owns 3,269 shares of the company’s stock, valued at $154,983.29. The sale 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.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its position in Verizon Communications by 15.1% in the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after purchasing an additional 20,070,391 shares during the period. FMR LLC raised its position in Verizon Communications by 15.0% in the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after purchasing an additional 8,077,275 shares during the period. Boston Partners raised its position in Verizon Communications by 1,252.0% in the fourth quarter. Boston Partners now owns 7,986,475 shares of the cell phone carrier’s stock valued at $422,724,000 after purchasing an additional 7,395,776 shares during the period. Bank of New York Mellon Corp raised its position in Verizon Communications by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after purchasing an additional 6,007,544 shares during the period. Finally, Vanguard Group Inc. raised its position in Verizon Communications by 2.1% in the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after purchasing an additional 5,837,702 shares during the period. 63.26% of the stock is currently owned by institutional investors.

Verizon Communications (NYSE VZ) opened at $49.88 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.87 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $200,034.16, a P/E ratio of 13.08, a P/E/G ratio of 2.00 and a beta of 0.58. Verizon Communications has a 12-month low of $42.80 and a 12-month high of $54.77.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were paid a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.73%. The ex-dividend date was Tuesday, January 9th. Verizon Communications’s dividend payout ratio is presently 32.07%.

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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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