Analysts Expect Verizon Communications Inc. (VZ) to Announce $1.18 EPS

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Equities analysts expect that Verizon Communications Inc. (NYSE:VZ) will announce earnings of $1.18 per share for the current quarter, according to Zacks Investment Research. Eighteen analysts have provided estimates for Verizon Communications’ earnings. The lowest EPS estimate is $1.09 and the highest is $1.23. Verizon Communications posted earnings of $0.98 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 20.4%. The firm is scheduled to announce its next earnings results on Thursday, October 18th.

On average, analysts expect that Verizon Communications will report full-year earnings of $4.66 per share for the current financial year, with EPS estimates ranging from $4.51 to $4.79. For the next fiscal year, analysts forecast that the business will report earnings of $4.76 per share, with EPS estimates ranging from $4.41 to $5.11. Zacks’ EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share for the quarter, topping the consensus estimate of $1.14 by $0.06. The company had revenue of $32.20 billion during the quarter, compared to analyst estimates of $31.78 billion. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The firm’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $0.96 earnings per share.

Several brokerages recently weighed in on VZ. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $59.00 price objective for the company in a research report on Wednesday, August 8th. Scotiabank set a $61.00 price objective on Verizon Communications and gave the stock a “buy” rating in a research report on Wednesday, July 25th. Robert W. Baird upped their price target on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Credit Suisse Group assumed coverage on Verizon Communications in a research note on Tuesday, July 10th. They set an “outperform” rating and a $58.00 price target on the stock. Finally, Goldman Sachs Group upgraded Verizon Communications from a “neutral” rating to a “buy” rating and upped their price target for the stock from $51.00 to $56.00 in a research note on Thursday, June 21st. Five analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $55.42.

Shares of Verizon Communications stock opened at $54.79 on Thursday. The company has a market capitalization of $216.59 billion, a P/E ratio of 14.65, a price-to-earnings-growth ratio of 1.82 and a beta of 0.70. Verizon Communications has a fifty-two week low of $43.97 and a fifty-two week high of $55.21. The company has a quick ratio of 0.92, a current ratio of 0.96 and a debt-to-equity ratio of 2.04.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 1st. Stockholders of record on Tuesday, July 10th were paid a $0.59 dividend. This represents a $2.36 annualized dividend and a dividend yield of 4.31%. The ex-dividend date was Monday, July 9th. Verizon Communications’s payout ratio is currently 63.10%.

Several hedge funds and other institutional investors have recently made changes to their positions in VZ. Mackenzie Financial Corp raised its stake in shares of Verizon Communications by 2,886.8% in the fourth quarter. Mackenzie Financial Corp now owns 11,717,907 shares of the cell phone carrier’s stock valued at $620,229,000 after acquiring an additional 11,325,589 shares in the last quarter. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Verizon Communications in the second quarter valued at $353,508,000. Bank of New York Mellon Corp raised its stake in shares of Verizon Communications by 14.1% in the fourth quarter. Bank of New York Mellon Corp now owns 48,749,993 shares of the cell phone carrier’s stock valued at $2,580,337,000 after acquiring an additional 6,007,544 shares in the last quarter. Boston Partners raised its stake in shares of Verizon Communications by 133.5% in the second quarter. Boston Partners now owns 10,503,382 shares of the cell phone carrier’s stock valued at $528,426,000 after acquiring an additional 6,005,801 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Verizon Communications by 8.6% in the second quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after acquiring an additional 5,481,532 shares in the last quarter. Institutional investors and hedge funds own 64.12% of the company’s stock.

About Verizon Communications

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; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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