Zacks: Analysts Anticipate Verizon Communications Inc. (NYSE:VZ) Will Announce Earnings of $1.22 Per Share

Brokerages expect Verizon Communications Inc. (NYSE:VZ) to post $1.22 earnings per share (EPS) for the current fiscal quarter, according to Zacks Investment Research. Fifteen analysts have provided estimates for Verizon Communications’ earnings. The lowest EPS estimate is $1.18 and the highest is $1.27. Verizon Communications posted earnings of $1.25 per share during the same quarter last year, which would indicate a negative year-over-year growth rate of 2.4%. The company is expected to announce its next earnings results on Friday, October 23rd.

On average, analysts expect that Verizon Communications will report full-year earnings of $4.78 per share for the current financial year, with EPS estimates ranging from $4.70 to $4.84. For the next year, analysts forecast that the company will report earnings of $4.93 per share, with EPS estimates ranging from $4.78 to $5.12. Zacks’ EPS averages are a mean average based on a survey of research analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings results on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, topping analysts’ consensus estimates of $1.15 by $0.03. The business had revenue of $30.40 billion during the quarter, compared to analysts’ expectations of $29.98 billion. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The business’s quarterly revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.23 earnings per share.

A number of brokerages have issued reports on VZ. Scotiabank upped their price objective on Verizon Communications from $63.00 to $64.00 and gave the company a “sector outperform” rating in a research report on Monday, July 27th. Argus raised Verizon Communications from a “hold” rating to a “buy” rating and set a $68.00 target price on the stock in a research report on Tuesday, September 8th. Royal Bank of Canada reaffirmed a “hold” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Wednesday, September 9th. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Tuesday, August 11th. Finally, Moffett Nathanson reaffirmed a “hold” rating and set a $62.00 price target on shares of Verizon Communications in a research report on Friday, July 24th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Verizon Communications presently has a consensus rating of “Hold” and an average price target of $62.27.

Several institutional investors have recently modified their holdings of VZ. LFA Lugano Financial Advisors SA acquired a new position in shares of Verizon Communications during the 2nd quarter worth approximately $27,000. Toth Financial Advisory Corp acquired a new position in shares of Verizon Communications during the 2nd quarter worth approximately $34,000. Laidlaw Wealth Management LLC boosted its holdings in shares of Verizon Communications by 6,131.5% during the 2nd quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier’s stock worth $36,000 after purchasing an additional 1,935,783 shares during the last quarter. HighMark Wealth Management LLC boosted its holdings in shares of Verizon Communications by 52.1% during the 2nd quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier’s stock worth $43,000 after purchasing an additional 270 shares during the last quarter. Finally, Evolution Wealth Advisors LLC boosted its holdings in shares of Verizon Communications by 166.7% during the 2nd quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier’s stock worth $44,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 64.85% of the company’s stock.

Verizon Communications stock traded down $0.74 during midday trading on Monday, reaching $59.61. 15,868,547 shares of the stock traded hands, compared to its average volume of 17,304,658. The stock’s fifty day moving average is $59.33 and its 200-day moving average is $56.63. Verizon Communications has a 12 month low of $48.84 and a 12 month high of $62.22. The stock has a market cap of $246.67 billion, a P/E ratio of 12.93, a PEG ratio of 3.67 and a beta of 0.46. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 2nd. Stockholders of record on Friday, October 9th will be issued a dividend of $0.6275 per share. This is a boost from Verizon Communications’s previous quarterly dividend of $0.62. This represents a $2.51 annualized dividend and a dividend yield of 4.21%. The ex-dividend date of this dividend is Thursday, October 8th. Verizon Communications’s payout ratio is currently 51.14%.

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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