Wall Street analysts forecast that Verizon Communications Inc. (NYSE:VZ) will report earnings of $1.18 per share for the current quarter, Zacks reports. Eighteen analysts have made estimates for Verizon Communications’ earnings, with the lowest EPS estimate coming in at $1.15 and the highest estimate coming in at $1.23. Verizon Communications posted earnings per share of $0.98 in the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The company is scheduled to report its next quarterly earnings report before the market opens on Tuesday, October 23rd.

According to Zacks, 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 $4.62 to $4.79. For the next financial year, analysts forecast that the company will report earnings of $4.77 per share, with EPS estimates ranging from $4.64 to $5.11. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that cover Verizon Communications.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, July 24th. The cell phone carrier reported $1.20 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.06. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The company had revenue of $32.20 billion during the quarter, compared to the consensus estimate of $31.78 billion. During the same quarter last year, the company earned $0.96 EPS. The company’s quarterly revenue was up 5.4% on a year-over-year basis.

A number of brokerages have commented on VZ. Credit Suisse Group began coverage on Verizon Communications in a research report on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 price objective for the company. Moffett Nathanson reiterated a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 4th. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Robert W. Baird raised their price objective on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 25th. Finally, 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. Seven research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $55.42.

Several institutional investors have recently bought and sold shares of the stock. Canton Hathaway LLC acquired a new stake in Verizon Communications during the 3rd quarter valued at $374,000. Selective Wealth Management acquired a new stake in Verizon Communications during the 3rd quarter valued at $387,000. Berkshire Asset Management LLC PA increased its holdings in Verizon Communications by 43.9% during the 3rd quarter. Berkshire Asset Management LLC PA now owns 36,052 shares of the cell phone carrier’s stock valued at $1,925,000 after purchasing an additional 11,000 shares in the last quarter. Gemmer Asset Management LLC increased its holdings in Verizon Communications by 8.2% during the 3rd quarter. Gemmer Asset Management LLC now owns 22,741 shares of the cell phone carrier’s stock valued at $1,214,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Busey Trust CO increased its holdings in Verizon Communications by 1.2% during the 3rd quarter. Busey Trust CO now owns 231,449 shares of the cell phone carrier’s stock valued at $12,357,000 after purchasing an additional 2,780 shares in the last quarter. Institutional investors and hedge funds own 64.04% of the company’s stock.

Shares of VZ stock traded up $0.40 during mid-day trading on Friday, reaching $53.73. The stock had a trading volume of 18,721,974 shares, compared to its average volume of 15,680,338. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 2.04. Verizon Communications has a one year low of $43.97 and a one year high of $55.90. The company has a market capitalization of $220.39 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.94 and a beta of 0.71.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.6025 per share. This represents a $2.41 annualized dividend and a dividend yield of 4.49%. The ex-dividend date is Tuesday, October 9th. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is 64.44%.

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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Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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