Verizon Communications Inc. (VZ) to Release Earnings on Thursday
Verizon Communications Inc. (NYSE:VZ) is scheduled to release its earnings data before the market opens on Thursday, October 19th. Analysts expect Verizon Communications to post earnings of $0.98 per share for the quarter.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The company had revenue of $30.55 billion during the quarter, compared to analyst estimates of $29.84 billion. During the same quarter last year, the company earned $0.94 EPS. The firm’s revenue for the quarter was up .1% on a year-over-year basis. On average, analysts expect Verizon Communications to post $3.76 EPS for the current fiscal year and $3.83 EPS for the next fiscal year.
Verizon Communications Inc. (NYSE VZ) opened at 48.40 on Wednesday. The company’s 50-day moving average price is $48.46 and its 200-day moving average price is $47.01. Verizon Communications Inc. has a 52-week low of $42.80 and a 52-week high of $54.83. The company has a market cap of $197.44 billion, a price-to-earnings ratio of 12.44 and a beta of 0.56.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 1st. Stockholders of record on Tuesday, October 10th will be given a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date is Friday, October 6th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. Verizon Communications’s payout ratio is currently 60.51%.
A number of equities analysts have recently weighed in on VZ shares. Vetr raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $47.44 price objective for the company in a research report on Wednesday, June 21st. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Wells Fargo & Company reissued a “market perform” rating on shares of Verizon Communications in a research report on Wednesday, June 28th. Jefferies Group LLC reissued a “hold” rating and issued a $50.00 price objective on shares of Verizon Communications in a research report on Monday, July 3rd. Finally, Zacks Investment Research raised shares of Verizon Communications from a “sell” rating to a “hold” rating in a research report on Friday, July 7th. Two investment 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 assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $52.86.
In other news, EVP Craig L. Silliman sold 610 shares of the company’s stock in a transaction on Friday, July 28th. The shares were sold at an average price of $47.74, for a total value of $29,121.40. Following the completion of the transaction, the executive vice president now directly owns 7,819 shares in the company, valued at $373,279.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders sold 1,830 shares of company stock valued at $88,828 over the last 90 days. Insiders own 0.13% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Beach Investment Management LLC. bought a new position in Verizon Communications during the 2nd quarter valued at $4,320,000. QCI Asset Management Inc. NY boosted its stake in Verizon Communications by 3.1% during the 2nd quarter. QCI Asset Management Inc. NY now owns 312,897 shares of the cell phone carrier’s stock valued at $13,974,000 after acquiring an additional 9,366 shares during the last quarter. Evergreen Capital Management LLC boosted its stake in Verizon Communications by 5.9% during the 2nd quarter. Evergreen Capital Management LLC now owns 57,902 shares of the cell phone carrier’s stock valued at $2,586,000 after acquiring an additional 3,250 shares during the last quarter. Homrich & Berg boosted its stake in Verizon Communications by 11.5% during the 2nd quarter. Homrich & Berg now owns 46,965 shares of the cell phone carrier’s stock valued at $2,097,000 after acquiring an additional 4,848 shares during the last quarter. Finally, Motco boosted its stake in Verizon Communications by 3.1% during the 2nd quarter. Motco now owns 84,275 shares of the cell phone carrier’s stock valued at $3,764,000 after acquiring an additional 2,514 shares during the last quarter. Institutional investors and hedge funds own 62.22% of the company’s stock.
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Verizon Communications Company Profile
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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