Analysts Anticipate Verizon Communications Inc. (VZ) Will Post Earnings of $0.88 Per Share

Analysts predict that Verizon Communications Inc. (NYSE:VZ) will report earnings per share of $0.88 for the current quarter, Zacks reports. Sixteen analysts have made estimates for Verizon Communications’ earnings. The highest EPS estimate is $0.97 and the lowest is $0.81. Verizon Communications posted earnings of $0.86 per share in the same quarter last year, which would suggest a positive year over year growth rate of 2.3%. The business is expected to issue its next quarterly earnings results on Tuesday, January 23rd.

On average, analysts expect that Verizon Communications will report full year earnings of $3.77 per share for the current fiscal year, with EPS estimates ranging from $3.73 to $3.86. For the next fiscal year, analysts forecast that the firm will post earnings of $3.88 per share, with EPS estimates ranging from $3.76 to $4.04. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 EPS for the quarter, meeting analysts’ consensus estimates of $0.98. The business had revenue of $31.70 billion during the quarter, compared to the consensus estimate of $31.45 billion. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The firm’s revenue was up 2.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.01 earnings per share.

Several equities research analysts have issued reports on the company. TheStreet upgraded Verizon Communications from a “c+” rating to a “b-” rating in a report on Tuesday, August 8th. Cowen restated a “hold” rating and issued a $52.00 price target on shares of Verizon Communications in a report on Tuesday, September 19th. Robert W. Baird restated a “hold” rating and issued a $49.00 price target on shares of Verizon Communications in a report on Wednesday, October 4th. KeyCorp restated a “hold” rating on shares of Verizon Communications in a report on Wednesday, October 11th. Finally, Moffett Nathanson restated a “buy” rating on shares of Verizon Communications in a report on Thursday, October 12th. Two analysts have rated the stock with a sell rating, nineteen have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $51.25.

In related news, EVP Craig L. Silliman sold 610 shares of the stock in a transaction dated Friday, October 27th. The stock was sold at an average price of $48.62, for a total transaction of $29,658.20. Following the completion of the transaction, the executive vice president now directly owns 5,989 shares in the company, valued at $291,185.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,830 shares of company stock valued at $88,609. 0.13% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Oakmont Partners LLC lifted its position in shares of Verizon Communications by 0.3% in the second quarter. Oakmont Partners LLC now owns 6,391 shares of the cell phone carrier’s stock valued at $285,000 after buying an additional 22 shares during the last quarter. Conservest Capital Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% in the second quarter. Conservest Capital Advisors Inc. now owns 5,024 shares of the cell phone carrier’s stock valued at $224,000 after buying an additional 23 shares during the last quarter. Regal Wealth Group Inc. lifted its position in shares of Verizon Communications by 0.7% in the second quarter. Regal Wealth Group Inc. now owns 3,682 shares of the cell phone carrier’s stock valued at $164,000 after buying an additional 24 shares during the last quarter. Glassman Wealth Services lifted its position in shares of Verizon Communications by 0.4% in the second quarter. Glassman Wealth Services now owns 7,719 shares of the cell phone carrier’s stock valued at $345,000 after buying an additional 31 shares during the last quarter. Finally, Nottingham Advisors Inc. lifted its position in shares of Verizon Communications by 0.5% in the second quarter. Nottingham Advisors Inc. now owns 6,425 shares of the cell phone carrier’s stock valued at $287,000 after buying an additional 35 shares during the last quarter. 63.37% of the stock is owned by hedge funds and other institutional investors.

Verizon Communications (NYSE:VZ) traded down $0.24 during midday trading on Friday, reaching $50.68. The company had a trading volume of 17,295,547 shares, compared to its average volume of 15,646,248. The company has a market capitalization of $206,580.00, a P/E ratio of 13.79, a PEG ratio of 4.86 and a beta of 0.57. The company has a quick ratio of 1.02, a current ratio of 1.07 and a debt-to-equity ratio of 4.05. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.83.

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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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Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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