Verizon Communications (NYSE:VZ) is set to release its earnings data before the market opens on Friday, October 25th. Analysts expect Verizon Communications to post earnings of $1.24 per share for the quarter. Persons that are interested in registering for the company’s earnings conference call can do so using this link.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, August 1st. The cell phone carrier reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.03. The firm had revenue of $32.07 billion for the quarter, compared to analyst estimates of $32.42 billion. Verizon Communications had a return on equity of 34.91% and a net margin of 12.08%. Verizon Communications’s revenue for the quarter was down .4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.20 earnings per share. On average, analysts expect Verizon Communications to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.
Shares of NYSE VZ opened at $60.77 on Wednesday. The business’s 50 day moving average price is $59.87 and its 200 day moving average price is $57.88. The firm has a market cap of $252.49 billion, a P/E ratio of 12.90, a P/E/G ratio of 3.06 and a beta of 0.53. Verizon Communications has a 52 week low of $52.28 and a 52 week high of $61.58. The company has a quick ratio of 0.84, a current ratio of 0.87 and a debt-to-equity ratio of 2.12.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a $0.615 dividend. The ex-dividend date of this dividend is Wednesday, October 9th. This represents a $2.46 dividend on an annualized basis and a yield of 4.05%. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.60. Verizon Communications’s dividend payout ratio is currently 52.23%.
In other Verizon Communications news, CEO Tami A. Erwin sold 17,000 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $57.75, for a total value of $981,750.00. Following the completion of the transaction, the chief executive officer now directly owns 853 shares of the company’s stock, valued at $49,260.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $56.55, for a total value of $76,285.95. Following the completion of the transaction, the executive vice president now directly owns 24,030 shares of the company’s stock, valued at $1,358,896.50. The disclosure for this sale can be found here. Insiders sold 21,047 shares of company stock valued at $1,214,722 over the last three months. 0.03% of the stock is currently owned by corporate insiders.
A number of brokerages recently commented on VZ. Citigroup set a $62.00 target price on Verizon Communications and gave the company a “hold” rating in a research report on Tuesday, September 10th. Zacks Investment Research upgraded Verizon Communications from a “hold” rating to a “buy” rating and set a $62.00 target price on the stock in a research report on Monday, September 2nd. SunTrust Banks upped their target price on Verizon Communications from $61.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Sanford C. Bernstein began coverage on Verizon Communications in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $63.00 target price on the stock. Finally, Nomura set a $65.00 target price on Verizon Communications and gave the company a “buy” rating in a research report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $61.90.
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; 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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