Analysts Anticipate Verizon Communications Inc. (NYSE:VZ) Will Post Quarterly Sales of $34.41 Billion


Share on StockTwits

Equities analysts expect Verizon Communications Inc. (NYSE:VZ) to post $34.41 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Sixteen analysts have provided estimates for Verizon Communications’ earnings, with the highest sales estimate coming in at $35.40 billion and the lowest estimate coming in at $33.49 billion. Verizon Communications reported sales of $34.78 billion during the same quarter last year, which indicates a negative year over year growth rate of 1.1%. The company is expected to issue its next earnings results before the market opens on Tuesday, January 26th.

According to Zacks, analysts expect that Verizon Communications will report full year sales of $127.99 billion for the current financial year, with estimates ranging from $127.09 billion to $129.00 billion. For the next financial year, analysts anticipate that the firm will post sales of $132.83 billion, with estimates ranging from $130.70 billion to $136.81 billion. Zacks’ sales calculations are a mean average based on a survey of research analysts that follow Verizon Communications.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Wednesday, October 21st. The cell phone carrier reported $1.25 EPS for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.03. The business had revenue of $31.50 billion for the quarter, compared to analyst estimates of $31.60 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.25 EPS.

A number of brokerages have recently commented on VZ. Wells Fargo & Company began coverage on Verizon Communications in a report on Monday, November 16th. They set an “equal weight” rating and a $60.00 price objective on the stock. BidaskClub lowered Verizon Communications from a “sell” rating to a “strong sell” rating in a report on Wednesday, December 30th. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and increased their price objective for the company from $59.00 to $66.00 in a report on Wednesday, December 2nd. JPMorgan Chase & Co. upgraded Verizon Communications from a “neutral” rating to an “overweight” rating and increased their target price for the company from $61.00 to $65.00 in a research note on Thursday, November 5th. Finally, Tigress Financial restated a “hold” rating on shares of Verizon Communications in a research note on Sunday, November 1st. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $62.00.

Shares of NYSE VZ traded down $0.21 during mid-day trading on Friday, reaching $57.05. 695,942 shares of the company traded hands, compared to its average volume of 20,558,674. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The stock has a market cap of $236.08 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 3.54 and a beta of 0.44. The company’s fifty day moving average is $59.74 and its two-hundred day moving average is $58.63. Verizon Communications has a fifty-two week low of $48.84 and a fifty-two week high of $61.95.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be given a $0.6275 dividend. The ex-dividend date of this dividend is Thursday, January 7th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.40%. Verizon Communications’s dividend payout ratio is currently 52.18%.

In other Verizon Communications news, EVP Craig L. Silliman sold 10,411 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $57.73, for a total value of $601,027.03. Following the completion of the sale, the executive vice president now owns 23,771 shares in the company, valued at approximately $1,372,299.83. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.07% of the stock is currently owned by company insiders.

Several hedge funds have recently made changes to their positions in the business. Baron Financial Group LLC bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $35,000. Avion Wealth lifted its position in shares of Verizon Communications by 191.4% during the 3rd quarter. Avion Wealth now owns 609 shares of the cell phone carrier’s stock worth $36,000 after buying an additional 400 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $46,000. Stuart Chaussee & Associates Inc. lifted its position in shares of Verizon Communications by 53.4% during the 3rd quarter. Stuart Chaussee & Associates Inc. now owns 1,224 shares of the cell phone carrier’s stock worth $73,000 after buying an additional 426 shares during the period. Finally, Grace Capital bought a new position in shares of Verizon Communications during the 3rd quarter worth approximately $78,000. Institutional investors own 64.85% of the company’s stock.

About Verizon Communications

Verizon Communications Inc offers communications, 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, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

Featured Article: High-Yield Dividend Stocks

Get a free copy of the Zacks research report on Verizon Communications (VZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.