Equities Analysts Set Expectations for Verizon Communications Inc.’s Q3 2022 Earnings (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZGet Rating) – KeyCorp lowered their Q3 2022 earnings per share (EPS) estimates for shares of Verizon Communications in a research note issued on Sunday, July 24th. KeyCorp analyst B. Nispel now expects that the cell phone carrier will post earnings per share of $1.30 for the quarter, down from their previous forecast of $1.40. The consensus estimate for Verizon Communications’ current full-year earnings is $5.23 per share. KeyCorp also issued estimates for Verizon Communications’ Q4 2022 earnings at $1.20 EPS, FY2022 earnings at $5.16 EPS and FY2023 earnings at $5.07 EPS.

Verizon Communications (NYSE:VZGet Rating) last announced its quarterly earnings data on Friday, July 22nd. The cell phone carrier reported $1.31 earnings per share for the quarter, missing the consensus estimate of $1.32 by ($0.01). Verizon Communications had a net margin of 15.48% and a return on equity of 26.95%. The company had revenue of $33.79 billion during the quarter, compared to the consensus estimate of $33.77 billion. During the same quarter in the previous year, the business earned $1.37 EPS. Verizon Communications’s revenue was up .1% on a year-over-year basis.

Several other equities research analysts also recently issued reports on VZ. StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday. Morgan Stanley cut their price objective on shares of Verizon Communications from $60.00 to $58.00 and set an “equal weight” rating for the company in a research report on Monday. Wells Fargo & Company cut their price objective on shares of Verizon Communications from $58.00 to $52.00 and set an “equal weight” rating for the company in a research report on Friday, July 8th. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Verizon Communications from $58.00 to $52.00 and set a “maintains” rating for the company in a research report on Monday. Finally, JPMorgan Chase & Co. restated a “hold” rating and set a $57.00 price objective on shares of Verizon Communications in a research report on Friday, June 24th. One analyst has rated the stock with a sell rating, fourteen have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $55.06.

Verizon Communications Trading Up 1.4 %

Shares of NYSE:VZ opened at $45.55 on Wednesday. Verizon Communications has a 52-week low of $43.76 and a 52-week high of $56.32. The company has a market capitalization of $191.29 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 2.12 and a beta of 0.40. The company has a 50-day simple moving average of $50.02 and a 200 day simple moving average of $51.34. The company has a debt-to-equity ratio of 1.56, a quick ratio of 0.69 and a current ratio of 0.76.

Verizon Communications Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 1st. Stockholders of record on Friday, July 8th will be issued a dividend of $0.64 per share. The ex-dividend date is Thursday, July 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.62%. Verizon Communications’s dividend payout ratio (DPR) is presently 51.30%.

Insider Transactions at Verizon Communications

In other news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Monday, May 23rd. The shares were sold at an average price of $50.00, for a total transaction of $77,900.00. Following the transaction, the executive vice president now owns 36,519 shares in the company, valued at $1,825,950. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last 90 days, insiders have sold 4,674 shares of company stock worth $237,377. Company insiders own 0.02% of the company’s stock.

Hedge Funds Weigh In On Verizon Communications

Several hedge funds and other institutional investors have recently bought and sold shares of the company. First National Bank Sioux Falls lifted its holdings in Verizon Communications by 2.8% in the first quarter. First National Bank Sioux Falls now owns 6,966 shares of the cell phone carrier’s stock valued at $355,000 after buying an additional 190 shares during the period. Mezzasalma Advisors LLC raised its holdings in shares of Verizon Communications by 1.8% during the fourth quarter. Mezzasalma Advisors LLC now owns 10,687 shares of the cell phone carrier’s stock valued at $555,000 after purchasing an additional 191 shares during the period. Weaver Consulting Group raised its holdings in shares of Verizon Communications by 1.3% during the fourth quarter. Weaver Consulting Group now owns 14,798 shares of the cell phone carrier’s stock valued at $769,000 after purchasing an additional 192 shares during the period. Domani Wealth LLC raised its holdings in shares of Verizon Communications by 2.2% during the first quarter. Domani Wealth LLC now owns 9,145 shares of the cell phone carrier’s stock valued at $466,000 after purchasing an additional 197 shares during the period. Finally, Lathrop Investment Management Corp raised its holdings in shares of Verizon Communications by 3.8% during the first quarter. Lathrop Investment Management Corp now owns 5,462 shares of the cell phone carrier’s stock valued at $278,000 after purchasing an additional 198 shares during the period. Institutional investors and hedge funds own 63.78% of the company’s stock.

About Verizon Communications

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Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

See Also

Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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