Brokerages predict that Verizon Communications Inc. (NYSE:VZ) will report earnings per share of $1.17 for the current fiscal quarter, Zacks reports. Seventeen analysts have issued estimates for Verizon Communications’ earnings. The highest EPS estimate is $1.21 and the lowest is $1.13. Verizon Communications also reported earnings per share of $1.17 in the same quarter last year. The firm is expected to announce its next quarterly earnings results on Tuesday, April 23rd.
According to Zacks, analysts expect that Verizon Communications will report full-year earnings of $4.66 per share for the current financial year, with EPS estimates ranging from $4.61 to $4.71. For the next year, analysts forecast that the business will report earnings of $4.79 per share, with EPS estimates ranging from $4.70 to $4.92. Zacks Investment Research’s earnings per share averages are an average based on a survey of research analysts that that provide coverage for Verizon Communications.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Tuesday, January 29th. The cell phone carrier reported $1.12 earnings per share for the quarter, beating analysts’ consensus estimates of $1.09 by $0.03. Verizon Communications had a net margin of 11.87% and a return on equity of 35.96%. The firm had revenue of $34.28 billion for the quarter, compared to analyst estimates of $34.45 billion. During the same period last year, the firm posted $0.86 EPS. Verizon Communications’s quarterly revenue was up 1.0% on a year-over-year basis.
Several equities research analysts have commented on VZ shares. Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research report on Friday, December 28th. ValuEngine lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and set a $59.89 target price on the stock. in a research report on Sunday, December 9th. Zacks Investment Research upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price on the stock in a research report on Saturday, January 26th. Finally, Morgan Stanley lowered shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and set a $58.00 target price on the stock. in a research report on Wednesday, December 12th. Nine research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $55.76.
In other news, EVP Craig L. Silliman sold 1,349 shares of Verizon Communications stock in a transaction on Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the completion of the transaction, the executive vice president now owns 25,549 shares of the company’s stock, valued at approximately $1,459,358.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Lowell C. Mcadam sold 285,988 shares of Verizon Communications stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $56.72, for a total value of $16,221,239.36. Following the transaction, the director now directly owns 362,932 shares of the company’s stock, valued at approximately $20,585,503.04. The disclosure for this sale can be found here. Insiders own 0.09% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Next Capital Management LLC acquired a new position in Verizon Communications in the 4th quarter valued at about $35,000. TD Capital Management LLC raised its stake in Verizon Communications by 99.4% in the 4th quarter. TD Capital Management LLC now owns 720 shares of the cell phone carrier’s stock valued at $40,000 after purchasing an additional 359 shares during the last quarter. PRW Wealth Management LLC acquired a new position in Verizon Communications in the 4th quarter valued at about $44,000. Daiwa SB Investments Ltd. raised its stake in Verizon Communications by 120.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock valued at $49,000 after purchasing an additional 480 shares during the last quarter. Finally, SeaBridge Investment Advisors LLC raised its stake in Verizon Communications by 506.0% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock valued at $57,000 after purchasing an additional 850 shares during the last quarter. 65.90% of the stock is owned by institutional investors and hedge funds.
NYSE:VZ opened at $58.39 on Friday. Verizon Communications has a 1-year low of $46.08 and a 1-year high of $61.58. The company has a debt-to-equity ratio of 1.94, a quick ratio of 0.88 and a current ratio of 0.91. The firm has a market capitalization of $241.03 billion, a P/E ratio of 12.40, a PEG ratio of 2.27 and a beta of 0.50.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be paid a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.13%. The ex-dividend date is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is presently 51.17%.
Verizon Communications Company Profile
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
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