Brokerages Expect Verizon Communications Inc. (NYSE:VZ) Will Post Earnings of $0.97 Per Share
Wall Street brokerages predict that Verizon Communications Inc. (NYSE:VZ) will announce $0.97 earnings per share for the current fiscal quarter, according to Zacks. Eighteen analysts have provided estimates for Verizon Communications’ earnings, with estimates ranging from $0.81 to $1.05. Verizon Communications reported earnings of $1.01 per share in the same quarter last year, which indicates a negative year over year growth rate of 4%. The company is scheduled to report its next quarterly earnings report on Thursday, October 19th.
According to Zacks, analysts expect that Verizon Communications will report full year earnings of $3.78 per share for the current year, with EPS estimates ranging from $3.68 to $3.87. For the next year, analysts expect that the company will report earnings of $3.86 per share, with EPS estimates ranging from $3.68 to $3.99. Zacks Investment Research’s EPS calculations are an average based on a survey of research analysts that cover Verizon Communications.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, hitting the consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The firm had revenue of $30.55 billion for the quarter, compared to the consensus estimate of $29.84 billion. During the same period in the prior year, the business posted $0.94 earnings per share. The company’s revenue for the quarter was up .1% on a year-over-year basis.
A number of analysts have issued reports on the company. TheStreet raised Verizon Communications from a “c+” rating to a “b-” rating in a research report on Tuesday. Bank of America Corporation reissued a “buy” rating on shares of Verizon Communications in a research report on Saturday, June 17th. Royal Bank Of Canada boosted their target price on Verizon Communications from $48.00 to $50.00 and gave the company a “sector perform” rating in a research report on Monday, July 31st. BidaskClub raised Verizon Communications from a “strong sell” rating to a “sell” rating in a research report on Monday, July 31st. Finally, Argus lowered Verizon Communications from a “buy” rating to a “hold” rating in a research report on Friday, April 21st. Two equities research analysts have rated the stock with a sell rating, twenty-two have issued a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $52.73.
Shares of Verizon Communications (NYSE:VZ) traded down 0.41% during midday trading on Thursday, hitting $48.02. The stock had a trading volume of 12,648,295 shares. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.83. The firm has a market cap of $195.89 billion, a price-to-earnings ratio of 12.34 and a beta of 0.56. The firm’s 50 day moving average price is $45.41 and its 200 day moving average price is $47.36.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th were paid a $0.5775 dividend. The ex-dividend date was Thursday, July 6th. This represents a $2.31 annualized dividend and a yield of 4.81%. Verizon Communications’s dividend payout ratio is presently 59.23%.
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In other Verizon Communications news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the completion of the transaction, the executive vice president now owns 8,429 shares in the company, valued at $379,305. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 1,830 shares of company stock valued at $84,229 in the last 90 days. 0.13% of the stock is currently owned by insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Franklin Parlapiano Turner & Welch LLC acquired a new stake in shares of Verizon Communications during the first quarter valued at $136,000. Tortoise Investment Management LLC increased its stake in shares of Verizon Communications by 35.3% in the fourth quarter. Tortoise Investment Management LLC now owns 2,609 shares of the cell phone carrier’s stock valued at $139,000 after buying an additional 680 shares during the period. American Beacon Advisors Inc. acquired a new stake in shares of Verizon Communications during the first quarter valued at $140,000. Proficio Capital Partners LLC increased its stake in shares of Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock valued at $142,000 after buying an additional 1,841 shares during the period. Finally, Private Vista LLC increased its stake in shares of Verizon Communications by 3,339.1% in the second quarter. Private Vista LLC now owns 389,552 shares of the cell phone carrier’s stock valued at $143,000 after buying an additional 378,225 shares during the period. Institutional investors own 62.35% of the company’s stock.
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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