Verizon Communications Inc. (NYSE:VZ) - Equities research analysts at KeyCorp increased their Q3 2017 EPS estimates for Verizon Communications in a research note issued to investors on Thursday. KeyCorp analyst B. Nispel now anticipates that the cell phone carrier will post earnings per share of $0.99 for the quarter, up from their previous estimate of $0.97. KeyCorp also issued estimates for Verizon Communications’ Q4 2017 earnings at $0.93 EPS, FY2017 earnings at $3.83 EPS and FY2018 earnings at $3.97 EPS.
VZ has been the topic of several other research reports. TheStreet cut shares of Verizon Communications from a “b-” rating to a “c” rating in a report on Thursday, April 27th. Goldman Sachs Group, Inc. (The) restated a “neutral” rating on shares of Verizon Communications in a report on Wednesday, June 28th. Vetr upgraded shares of Verizon Communications from a “buy” rating to a “strong-buy” rating and set a $50.65 price target on the stock in a research note on Wednesday, July 5th. Macquarie reiterated a “neutral” rating and set a $49.00 price target (down previously from $50.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $50.00 price target (down previously from $51.00) on shares of Verizon Communications in a research note on Sunday, April 23rd. One analyst has rated the stock with a sell rating, twenty-three have assigned a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and an average target price of $52.96.
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Shares of Verizon Communications (NYSE:VZ) opened at 47.94 on Monday. The firm’s 50-day moving average is $44.95 and its 200-day moving average is $47.59. Verizon Communications has a one year low of $42.80 and a one year high of $55.82. The company has a market cap of $195.55 billion, a PE ratio of 12.32 and a beta of 0.54.
Verizon Communications (NYSE:VZ) last posted its quarterly earnings data on Thursday, July 27th. The cell phone carrier reported $0.96 EPS for the quarter, meeting the consensus estimate of $0.96. Verizon Communications had a return on equity of 63.06% and a net margin of 12.88%. The business had revenue of $30.55 billion for the quarter, compared to the consensus estimate of $29.84 billion. During the same quarter in the prior year, the business earned $0.94 earnings per share. Verizon Communications’s revenue for the quarter was up .1% on a year-over-year basis.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 1st. Shareholders of record on Monday, July 10th will be issued a $0.5775 dividend. The ex-dividend date of this dividend is Thursday, July 6th. This represents a $2.31 dividend on an annualized basis and a yield of 4.82%. Verizon Communications’s dividend payout ratio is currently 59.23%.
In other news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $45.00, for a total value of $27,450.00. Following the sale, the executive vice president now directly owns 8,429 shares in the company, valued at approximately $379,305. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.13% of the company’s stock.
Hedge funds have recently bought and sold shares of the company. Baltimore Washington Financial Advisors Inc. acquired a new stake in Verizon Communications during the fourth quarter worth $9,742,000. Tortoise Investment Management LLC increased its stake in Verizon Communications by 35.3% in the fourth quarter. Tortoise Investment Management LLC now owns 2,609 shares of the cell phone carrier’s stock worth $139,000 after buying an additional 680 shares during the period. Franklin Parlapiano Turner & Welch LLC acquired a new stake in Verizon Communications during the first quarter worth $136,000. American Beacon Advisors Inc. acquired a new stake in Verizon Communications during the first quarter worth $140,000. Finally, Proficio Capital Partners LLC increased its stake in Verizon Communications by 139.8% in the first quarter. Proficio Capital Partners LLC now owns 3,158 shares of the cell phone carrier’s stock worth $142,000 after buying an additional 1,841 shares during the period. Hedge funds and other institutional investors own 62.61% of the company’s stock.
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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