William Blair Analysts Decrease Earnings Estimates for Verizon Communications Inc. (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZGet Rating) – Equities researchers at William Blair cut their Q3 2022 earnings per share (EPS) estimates for shares of Verizon Communications in a report released on Monday, July 25th. William Blair analyst J. Breen now anticipates that the cell phone carrier will post earnings of $1.29 per share for the quarter, down from their previous forecast of $1.38. William Blair currently has a “Market Perform” rating on the stock. The consensus estimate for Verizon Communications’ current full-year earnings is $5.23 per share. William Blair also issued estimates for Verizon Communications’ Q4 2022 earnings at $1.23 EPS, FY2022 earnings at $5.18 EPS and FY2023 earnings at $5.33 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 (EPS) 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 for the quarter, compared to analysts’ expectations of $33.77 billion. During the same period in the prior year, the firm earned $1.37 earnings per share. The firm’s quarterly revenue was up .1% on a year-over-year basis.

Other analysts have also recently issued reports about the stock. Raymond James decreased their price target on shares of Verizon Communications from $64.00 to $55.00 and set a “maintains” rating for the company in a research report on Monday. Credit Suisse Group decreased their price objective on shares of Verizon Communications from $58.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday, June 21st. UBS Group decreased their price objective on shares of Verizon Communications from $57.00 to $47.00 and set a “neutral” rating for the company in a research report on Monday. Royal Bank of Canada decreased their price objective on shares of Verizon Communications from $54.00 to $50.00 and set a “maintains” rating for the company in a research report on Monday. Finally, Morgan Stanley decreased 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. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Verizon Communications has an average rating of “Hold” and a consensus target price of $55.06.

Verizon Communications Stock Up 1.4 %

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

Verizon Communications Announces Dividend

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

Insider Activity at Verizon Communications

In related news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $50.94, for a total value of $79,364.52. Following the completion of the sale, the executive vice president now owns 34,961 shares in the company, valued at approximately $1,780,913.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In the last 90 days, insiders sold 4,674 shares of company stock worth $237,377. 0.02% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in VZ. Rinkey Investments acquired a new position in Verizon Communications in the 4th quarter valued at $27,000. Cordant Inc. acquired a new position in Verizon Communications in the 1st quarter valued at $30,000. HBC Financial Services PLLC acquired a new position in Verizon Communications in the 2nd quarter valued at $30,000. Founders Capital Management acquired a new position in Verizon Communications in the 2nd quarter valued at $34,000. Finally, Lansing Street Advisors acquired a new position in Verizon Communications in the 1st quarter valued at $35,000. Hedge funds and other institutional investors 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.

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

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