Equities analysts predict that Verizon Communications Inc. (NYSE:VZ) will post sales of $32.44 billion for the current quarter, according to Zacks. Nineteen analysts have issued estimates for Verizon Communications’ earnings, with the highest sales estimate coming in at $32.76 billion and the lowest estimate coming in at $32.12 billion. Verizon Communications posted sales of $32.20 billion during the same quarter last year, which would indicate a positive year over year growth rate of 0.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, July 23rd.

On average, analysts expect that Verizon Communications will report full year sales of $131.97 billion for the current financial year, with estimates ranging from $130.56 billion to $133.52 billion. For the next fiscal year, analysts expect that the business will report sales of $133.54 billion, with estimates ranging from $131.29 billion to $136.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Verizon Communications.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The company had revenue of $32.13 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same quarter in the prior year, the company posted $1.17 earnings per share. The firm’s revenue for the quarter was up 1.1% on a year-over-year basis.

A number of equities analysts have recently commented on VZ shares. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Thursday, May 16th. Royal Bank of Canada reissued a “neutral” rating and set a $57.00 price target on shares of Verizon Communications in a research note on Tuesday, April 23rd. Bank of America set a $64.00 price target on shares of Verizon Communications and gave the stock a “buy” rating in a research note on Tuesday, April 23rd. Goldman Sachs Group reaffirmed a “buy” rating and issued a $65.00 target price on shares of Verizon Communications in a research note on Tuesday, April 23rd. Finally, ValuEngine downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Tuesday, January 29th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $57.76.

In related news, EVP Craig L. Silliman sold 1,349 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $57.12, for a total transaction of $77,054.88. Following the sale, the executive vice president now owns 25,549 shares of the company’s stock, valued at $1,459,358.88. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Anthony T. Skiadas sold 6,134 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total value of $350,312.74. Following the completion of the sale, the senior vice president now directly owns 20,000 shares of the company’s stock, valued at approximately $1,142,200. The disclosure for this sale can be found here. In the last quarter, insiders sold 296,169 shares of company stock worth $16,805,577. Insiders own 0.03% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Clearbridge Investments LLC increased its position in shares of Verizon Communications by 8.6% in the first quarter. Clearbridge Investments LLC now owns 9,016,053 shares of the cell phone carrier’s stock valued at $533,119,000 after buying an additional 711,742 shares in the last quarter. Princeton Global Asset Management LLC boosted its stake in shares of Verizon Communications by 235.6% in the first quarter. Princeton Global Asset Management LLC now owns 8,262 shares of the cell phone carrier’s stock worth $488,000 after acquiring an additional 5,800 shares during the last quarter. Rehmann Capital Advisory Group boosted its stake in Verizon Communications by 5.0% during the first quarter. Rehmann Capital Advisory Group now owns 28,855 shares of the cell phone carrier’s stock worth $1,706,000 after buying an additional 1,378 shares during the last quarter. Accident Compensation Corp boosted its stake in Verizon Communications by 37.1% during the first quarter. Accident Compensation Corp now owns 105,594 shares of the cell phone carrier’s stock worth $6,244,000 after buying an additional 28,600 shares during the last quarter. Finally, Columbia Asset Management boosted its stake in Verizon Communications by 1.6% during the first quarter. Columbia Asset Management now owns 76,622 shares of the cell phone carrier’s stock worth $4,531,000 after buying an additional 1,195 shares during the last quarter. 66.56% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:VZ opened at $59.32 on Friday. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The stock has a market cap of $244.87 billion, a price-to-earnings ratio of 12.59, a price-to-earnings-growth ratio of 3.10 and a beta of 0.48. Verizon Communications has a twelve month low of $47.13 and a twelve month high of $61.58.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 1st. Shareholders of record on Wednesday, April 10th were paid a $0.6025 dividend. The ex-dividend date was Tuesday, April 9th. This represents a $2.41 dividend on an annualized basis and a yield of 4.06%. Verizon Communications’s payout ratio is 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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Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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