Verizon Communications Inc. (VZ) to Release Earnings on Thursday
Verizon Communications Inc. (NYSE:VZ) is set to release its earnings data on Thursday, October 20th. Persons interested in registering for the company’s earnings conference call can do so using this link.
Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.92 by $0.02. The business had revenue of $30.53 billion for the quarter, compared to analyst estimates of $30.95 billion. Verizon Communications had a net margin of 11.10% and a return on equity of 87.41%. Verizon Communications’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.04 EPS. On average, analysts expect Verizon Communications to post $3.89 EPS for the current fiscal year and $4.03 EPS for the next fiscal year.
Shares of Verizon Communications Inc. (NYSE:VZ) opened at 50.27 on Wednesday. The company has a market cap of $204.92 billion, a price-to-earnings ratio of 14.20 and a beta of 0.30. Verizon Communications Inc. has a 12-month low of $43.79 and a 12-month high of $56.95. The company’s 50-day moving average is $51.64 and its 200-day moving average is $52.56.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 1st. Shareholders of record on Friday, October 7th will be issued a dividend of $0.0125 per share. This represents a $0.05 annualized dividend and a yield of 0.10%. The ex-dividend date is Wednesday, October 5th. Verizon Communications’s dividend payout ratio is currently 65.25%.
In other news, EVP Craig L. Silliman sold 672 shares of the company’s stock in a transaction dated Friday, August 26th. The shares were sold at an average price of $52.76, for a total transaction of $35,454.72. Following the transaction, the executive vice president now owns 10,526 shares in the company, valued at $555,351.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.10% of the company’s stock.
Several institutional investors have recently bought and sold shares of the stock. Camelot Portfolios LLC bought a new position in Verizon Communications during the second quarter valued at about $203,000. Montgomery Investment Management Inc. bought a new position in Verizon Communications during the second quarter valued at about $204,000. Marathon Capital Management bought a new position in Verizon Communications during the second quarter valued at about $206,000. Oliver Luxxe Assets LLC increased its position in Verizon Communications by 0.3% in the second quarter. Oliver Luxxe Assets LLC now owns 3,821 shares of the cell phone carrier’s stock valued at $213,000 after buying an additional 12 shares during the period. Finally, Bienville Capital Management LLC bought a new position in Verizon Communications during the second quarter valued at about $228,000. Hedge funds and other institutional investors own 63.46% of the company’s stock.
VZ has been the topic of several analyst reports. Zacks Investment Research downgraded shares of Verizon Communications from a “hold” rating to a “sell” rating in a report on Monday, June 27th. Robert W. Baird reissued a “neutral” rating and issued a $54.00 target price on shares of Verizon Communications in a report on Tuesday, June 28th. Citigroup Inc. reissued a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 29th. Macquarie reissued a “neutral” rating and issued a $55.00 target price on shares of Verizon Communications in a report on Wednesday, July 6th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating on shares of Verizon Communications in a report on Friday, July 8th. Twenty-four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Verizon Communications presently has a consensus rating of “Hold” and a consensus target price of $54.46.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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