Brokerages forecast that Verizon Communications Inc. (NYSE:VZ) will post $1.09 earnings per share for the current quarter, Zacks reports. Twelve analysts have issued estimates for Verizon Communications’ earnings, with estimates ranging from $0.88 to $1.16. Verizon Communications reported earnings per share of $0.95 during the same quarter last year, which indicates a positive year-over-year growth rate of 14.7%. The company is scheduled to report its next quarterly earnings results on Thursday, April 19th.
On average, analysts expect that Verizon Communications will report full year earnings of $4.42 per share for the current year, with EPS estimates ranging from $3.80 to $4.66. For the next fiscal year, analysts forecast that the company will post earnings of $4.54 per share, with EPS estimates ranging from $3.87 to $5.13. Zacks’ EPS averages are an average based on a survey of sell-side research firms that that provide coverage for Verizon Communications.
Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, January 23rd. The cell phone carrier reported $0.86 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.88 by ($0.02). Verizon Communications had a return on equity of 48.97% and a net margin of 23.88%. The firm had revenue of $33.96 billion during the quarter, compared to analyst estimates of $33.20 billion. During the same period in the previous year, the company earned $0.86 EPS. Verizon Communications’s revenue for the quarter was up 2.2% on a year-over-year basis.
In related news, EVP Craig L. Silliman sold 610 shares of Verizon Communications stock in a transaction on Monday, November 27th. The stock was sold at an average price of $47.41, for a total transaction of $28,920.10. Following the completion of the sale, the executive vice president now owns 3,269 shares of the company’s stock, valued at $154,983.29. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.13% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Regal Wealth Group Inc. grew its holdings in shares of Verizon Communications by 0.7% during the 2nd quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock worth $164,000 after acquiring an additional 24 shares during the period. Glassman Wealth Services boosted its position in shares of Verizon Communications by 0.4% in the 2nd quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock worth $345,000 after purchasing an additional 31 shares in the last quarter. Nottingham Advisors Inc. boosted its position in shares of Verizon Communications by 0.5% in the 2nd quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock worth $287,000 after purchasing an additional 35 shares in the last quarter. Camden National Bank boosted its position in shares of Verizon Communications by 0.7% in the 2nd quarter. Camden National Bank now owns 4,972 shares of the cell phone carrier’s stock worth $222,000 after purchasing an additional 37 shares in the last quarter. Finally, DF Dent & Co. Inc. boosted its position in shares of Verizon Communications by 0.6% in the 2nd quarter. DF Dent & Co. Inc. now owns 8,506 shares of the cell phone carrier’s stock worth $380,000 after purchasing an additional 50 shares in the last quarter. Hedge funds and other institutional investors own 63.26% of the company’s stock.
Shares of Verizon Communications (NYSE VZ) opened at $51.01 on Thursday. Verizon Communications has a 52-week low of $42.80 and a 52-week high of $54.77. The company has a debt-to-equity ratio of 2.54, a quick ratio of 0.87 and a current ratio of 0.91. The company has a market capitalization of $208,090.00, a PE ratio of 6.93, a P/E/G ratio of 2.06 and a beta of 0.58.
The business also recently declared a quarterly dividend, which was paid on Thursday, February 1st. Stockholders of record on Wednesday, January 10th were issued a $0.59 dividend. This represents a $2.36 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Tuesday, January 9th. Verizon Communications’s payout ratio is currently 32.07%.
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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