Wall Street brokerages expect Verizon Communications Inc. (NYSE:VZ) to report earnings of $1.12 per share for the current quarter, Zacks reports. Thirteen analysts have issued estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.18 and the lowest estimate coming in at $1.02. Verizon Communications reported earnings of $0.95 per share in the same quarter last year, which indicates a positive year over year growth rate of 17.9%. The company is expected to announce its next quarterly earnings report on Thursday, April 19th.
According to Zacks, analysts expect that Verizon Communications will report full year earnings of $4.52 per share for the current fiscal year, with EPS estimates ranging from $3.94 to $4.66. For the next year, analysts forecast that the company will post earnings of $4.66 per share, with EPS estimates ranging from $4.11 to $5.13. Zacks’ EPS calculations are a mean average based on a survey of research analysts that cover Verizon Communications.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $0.86 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.88 by ($0.02). Verizon Communications had a net margin of 23.88% and a return on equity of 48.97%. The business had revenue of $33.96 billion during the quarter, compared to analysts’ expectations of $33.20 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. Verizon Communications’s revenue was up 2.2% on a year-over-year basis.
In other Verizon Communications news, SVP Anthony T. Skiadas sold 6,967 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $49.80, for a total transaction of $346,956.60. Following the sale, the senior vice president now directly owns 16,059 shares in the company, valued at $799,738.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 0.13% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Exane Derivatives bought a new position in Verizon Communications in the fourth quarter worth approximately $103,000. Earnest Partners LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $103,000. Stelac Advisory Services LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $111,000. Wagner Wealth Management LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $129,000. Finally, Avestar Capital LLC bought a new position in Verizon Communications in the fourth quarter worth approximately $131,000. 64.37% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Verizon Communications (NYSE VZ) traded up $0.27 during trading on Tuesday, hitting $48.56. The stock had a trading volume of 25,633,256 shares, compared to its average volume of 16,943,406. The company has a quick ratio of 0.87, a current ratio of 0.91 and a debt-to-equity ratio of 2.54. The stock has a market capitalization of $200,453.94, a P/E ratio of 6.60, a price-to-earnings-growth ratio of 1.97 and a beta of 0.68. Verizon Communications has a fifty-two week low of $42.80 and a fifty-two week high of $54.77.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 1st. Shareholders of record on Tuesday, April 10th will be given a dividend of $0.59 per share. The ex-dividend date is Monday, April 9th. This represents a $2.36 dividend on an annualized basis and a yield of 4.86%. Verizon Communications’s dividend payout ratio (DPR) is presently 32.07%.
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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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