Verizon Communications Inc. (NYSE:VZ) – KeyCorp lifted their FY2018 earnings estimates for Verizon Communications in a research report issued on Tuesday, November 20th. KeyCorp analyst B. Nispel now anticipates that the cell phone carrier will post earnings of $4.68 per share for the year, up from their previous forecast of $4.67. KeyCorp also issued estimates for Verizon Communications’ Q1 2019 earnings at $1.19 EPS, Q2 2019 earnings at $1.21 EPS, Q3 2019 earnings at $1.24 EPS and Q4 2019 earnings at $1.10 EPS.
Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $58.00 target price on the stock in a report on Wednesday, August 1st. Scotiabank set a $62.00 target price on Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. ValuEngine raised Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Bank of America reissued a “buy” rating and set a $58.00 price target on shares of Verizon Communications in a report on Monday, October 22nd. Finally, Barclays cut Verizon Communications from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $56.00 to $50.00 in a report on Tuesday, September 4th. Seven investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Verizon Communications presently has an average rating of “Buy” and an average price target of $56.22.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 EPS for the quarter, topping the Zacks’ consensus estimate of $1.19 by $0.03. Verizon Communications had a return on equity of 35.50% and a net margin of 24.71%. The company had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $32.45 billion. During the same period last year, the firm earned $0.98 EPS. Verizon Communications’s revenue for the quarter was up 2.8% compared to the same quarter last year.
A number of large investors have recently bought and sold shares of VZ. HBK Sorce Advisory LLC increased its holdings in shares of Verizon Communications by 1.4% in the third quarter. HBK Sorce Advisory LLC now owns 64,695 shares of the cell phone carrier’s stock worth $3,454,000 after purchasing an additional 879 shares during the last quarter. Wade G W & Inc. increased its holdings in shares of Verizon Communications by 2.0% in the third quarter. Wade G W & Inc. now owns 45,899 shares of the cell phone carrier’s stock worth $2,451,000 after purchasing an additional 888 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Verizon Communications by 1.3% in the third quarter. AlphaMark Advisors LLC now owns 69,929 shares of the cell phone carrier’s stock worth $3,734,000 after purchasing an additional 889 shares during the last quarter. Independence Advisors LLC increased its holdings in shares of Verizon Communications by 21.0% in the third quarter. Independence Advisors LLC now owns 5,180 shares of the cell phone carrier’s stock worth $277,000 after purchasing an additional 898 shares during the last quarter. Finally, Vantage Investment Advisors LLC increased its holdings in shares of Verizon Communications by 6.8% in the third quarter. Vantage Investment Advisors LLC now owns 14,080 shares of the cell phone carrier’s stock worth $729,000 after purchasing an additional 901 shares during the last quarter. 64.17% of the stock is currently owned by institutional investors and hedge funds.
The firm also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were issued a dividend of $0.6025 per share. The ex-dividend date of this dividend was Tuesday, October 9th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. This represents a $2.41 dividend on an annualized basis and a yield of 4.11%. Verizon Communications’s dividend payout ratio (DPR) is currently 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.
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.