Analysts Expect Verizon Communications Inc. (NYSE:VZ) to Post $1.20 EPS

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Equities analysts expect Verizon Communications Inc. (NYSE:VZ) to announce earnings of $1.20 per share for the current quarter, Zacks reports. Nineteen analysts have made estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.25 and the lowest estimate coming in at $1.16. Verizon Communications also reported earnings per share of $1.20 in the same quarter last year. The business is expected to issue its next quarterly earnings report before the market opens on Thursday, August 1st.

On average, analysts expect that Verizon Communications will report full-year earnings of $4.75 per share for the current year, with EPS estimates ranging from $4.66 to $4.81. For the next year, analysts anticipate that the firm will post earnings of $4.85 per share, with EPS estimates ranging from $4.70 to $4.99. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that follow Verizon Communications.

Verizon Communications (NYSE:VZ) last posted its quarterly earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The business had revenue of $32.13 billion during the quarter, compared to analyst estimates of $32.13 billion. During the same period in the previous year, the business posted $1.17 EPS. The company’s quarterly revenue was up 1.1% on a year-over-year basis.

Several research analysts have recently commented on the stock. Royal Bank of Canada set a €18.50 ($21.51) price target on shares of ENI and gave the company a “neutral” rating in a report on Tuesday, April 23rd. Goldman Sachs Group set a $44.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a report on Tuesday, April 23rd. UBS Group raised shares of Loma Negra Compania Indl Argentina from a “sell” rating to a “neutral” rating in a report on Thursday, May 30th. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research note on Tuesday, April 23rd. Finally, Zacks Investment Research lowered shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. Eleven equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $59.30.

In related news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $56.06, for a total value of $75,624.94. Following the sale, the executive vice president now directly owns 28,077 shares in the company, valued at approximately $1,573,996.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Anthony T. Skiadas sold 6,134 shares of the business’s stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $57.11, for a total transaction of $350,312.74. Following the completion of the sale, the senior vice president now owns 20,000 shares in the company, valued at $1,142,200. The disclosure for this sale can be found here. Insiders have sold a total of 10,181 shares of company stock worth $584,243 over the last 90 days. 0.03% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evolution Wealth Advisors LLC bought a new stake in shares of Verizon Communications in the 2nd quarter worth approximately $31,000. Daiwa SB Investments Ltd. raised its holdings in shares of Verizon Communications by 120.0% in the 4th quarter. Daiwa SB Investments Ltd. now owns 880 shares of the cell phone carrier’s stock worth $49,000 after purchasing an additional 480 shares in the last quarter. SeaBridge Investment Advisors LLC raised its holdings in shares of Verizon Communications by 506.0% in the 4th quarter. SeaBridge Investment Advisors LLC now owns 1,018 shares of the cell phone carrier’s stock worth $57,000 after purchasing an additional 850 shares in the last quarter. Cascade Investment Advisors Inc. raised its holdings in shares of Verizon Communications by 21.5% in the 4th quarter. Cascade Investment Advisors Inc. now owns 1,033 shares of the cell phone carrier’s stock worth $58,000 after purchasing an additional 183 shares in the last quarter. Finally, Contravisory Investment Management Inc. raised its holdings in shares of Verizon Communications by 85.4% in the 2nd quarter. Contravisory Investment Management Inc. now owns 1,053 shares of the cell phone carrier’s stock worth $60,000 after purchasing an additional 485 shares in the last quarter. Institutional investors and hedge funds own 65.51% of the company’s stock.

NYSE VZ opened at $57.19 on Tuesday. Verizon Communications has a one year low of $50.05 and a one year high of $61.58. The firm has a 50-day simple moving average of $57.46. The company has a debt-to-equity ratio of 1.83, a current ratio of 0.87 and a quick ratio of 0.83. The firm has a market cap of $236.52 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 2.84 and a beta of 0.51.

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.6025 per share. The ex-dividend date is Tuesday, July 9th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.21%. Verizon Communications’s dividend payout ratio (DPR) is 51.17%.

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; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.

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