Verizon Communications Inc. (VZ) Expected to Announce Earnings of $1.10 Per Share

Analysts expect Verizon Communications Inc. (NYSE:VZ) to report $1.10 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Nineteen analysts have provided estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.02. Verizon Communications posted earnings of $0.86 per share during the same quarter last year, which suggests a positive year over year growth rate of 27.9%. The firm is expected to report its next quarterly earnings results on Tuesday, January 22nd.

On average, analysts expect that Verizon Communications will report full-year earnings of $4.69 per share for the current year, with EPS estimates ranging from $4.61 to $4.79. For the next financial year, analysts anticipate that the firm will report earnings of $4.73 per share, with EPS estimates ranging from $4.63 to $4.83. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Verizon Communications.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $32.45 billion. During the same period in the prior year, the company earned $0.98 earnings per share. The company’s revenue for the quarter was up 2.8% compared to the same quarter last year.

Several equities research analysts have issued reports on the company. Scotiabank set a $62.00 price target on Verizon Communications and gave the stock a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research downgraded Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. ValuEngine upgraded Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Bank of America reiterated a “buy” rating and set a $58.00 price objective on shares of Verizon Communications in a report on Monday, October 22nd. Finally, Moffett Nathanson reiterated a “neutral” rating and set a $56.00 price objective on shares of Verizon Communications in a report on Tuesday, September 4th. Seven investment analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $56.22.

Shares of Verizon Communications stock traded down $0.52 during trading hours on Thursday, hitting $58.64. The company’s stock had a trading volume of 7,009,050 shares, compared to its average volume of 17,187,156. Verizon Communications has a 12 month low of $46.08 and a 12 month high of $61.58. The company has a market capitalization of $242.06 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 2.55 and a beta of 0.46. The company has a debt-to-equity ratio of 1.90, a current ratio of 0.97 and a quick ratio of 0.93.

The business also recently declared a quarterly dividend, which was paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th were paid a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.11%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date was Tuesday, October 9th. Verizon Communications’s dividend payout ratio (DPR) is currently 64.44%.

A number of hedge funds have recently bought and sold shares of VZ. Vanguard Group Inc. lifted its position in shares of Verizon Communications by 1.3% in the third quarter. Vanguard Group Inc. now owns 303,821,942 shares of the cell phone carrier’s stock valued at $16,221,053,000 after buying an additional 3,957,224 shares during the last quarter. BlackRock Inc. lifted its position in shares of Verizon Communications by 2.3% in the third quarter. BlackRock Inc. now owns 276,264,842 shares of the cell phone carrier’s stock valued at $14,749,779,000 after buying an additional 6,117,952 shares during the last quarter. Capital World Investors lifted its position in shares of Verizon Communications by 9.9% in the third quarter. Capital World Investors now owns 71,733,981 shares of the cell phone carrier’s stock valued at $3,829,877,000 after buying an additional 6,485,041 shares during the last quarter. FMR LLC lifted its holdings in Verizon Communications by 8.6% during the 2nd quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock worth $3,479,704,000 after purchasing an additional 5,481,532 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Verizon Communications by 12,167,820.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 55,242,360 shares of the cell phone carrier’s stock worth $2,949,390,000 after purchasing an additional 55,241,906 shares during the last quarter. Hedge funds and other institutional investors own 64.17% of the company’s stock.

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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