Zacks: Analysts Expect Verizon Communications Inc. (NYSE:VZ) Will Post Earnings of $1.30 Per Share

Wall Street brokerages forecast that Verizon Communications Inc. (NYSE:VZ) will report earnings per share (EPS) of $1.30 for the current fiscal quarter, according to Zacks. Fourteen analysts have made estimates for Verizon Communications’ earnings, with the lowest EPS estimate coming in at $1.26 and the highest estimate coming in at $1.35. Verizon Communications reported earnings of $1.25 per share during the same quarter last year, which would suggest a positive year over year growth rate of 4%. The firm is scheduled to issue its next earnings report on Wednesday, October 20th.

According to Zacks, analysts expect that Verizon Communications will report full year earnings of $5.15 per share for the current financial year, with EPS estimates ranging from $4.98 to $5.30. For the next financial year, analysts expect that the business will report earnings of $5.22 per share, with EPS estimates ranging from $4.98 to $5.53. Zacks Investment Research’s earnings per share averages are an average based on a survey of sell-side research analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, July 20th. The cell phone carrier reported $1.37 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.07. The firm had revenue of $33.76 billion during the quarter, compared to analyst estimates of $32.73 billion. Verizon Communications had a net margin of 14.58% and a return on equity of 30.10%. The business’s revenue was up 10.9% on a year-over-year basis. During the same period last year, the business earned $1.18 earnings per share.

A number of research firms have recently commented on VZ. Moffett Nathanson reissued a “neutral” rating on shares of Verizon Communications in a research note on Monday, May 3rd. Tigress Financial reissued a “buy” rating and issued a $67.00 target price on shares of Verizon Communications in a research note on Wednesday, July 7th. JPMorgan Chase & Co. increased their target price on Verizon Communications from $64.00 to $65.00 and gave the stock an “overweight” rating in a research note on Thursday. Cowen upped their target price on shares of Verizon Communications from $66.00 to $68.00 and gave the stock an “outperform” rating in a research note on Thursday. Finally, Royal Bank of Canada started coverage on shares of Verizon Communications in a research note on Thursday. They issued a “hold” rating and a $57.00 target price on the stock. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. Verizon Communications has an average rating of “Hold” and an average price target of $62.38.

NYSE:VZ traded down $0.23 during trading hours on Friday, reaching $55.72. 324,148 shares of the company traded hands, compared to its average volume of 14,047,290. The company has a debt-to-equity ratio of 2.06, a current ratio of 1.02 and a quick ratio of 0.99. The firm has a 50-day moving average price of $56.63. Verizon Communications has a 1 year low of $53.83 and a 1 year high of $61.95. The firm has a market capitalization of $230.68 billion, a PE ratio of 12.22, a P/E/G ratio of 3.52 and a beta of 0.48.

The company also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Friday, July 9th will be paid a $0.627 dividend. The ex-dividend date is Thursday, July 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.50%. Verizon Communications’s dividend payout ratio (DPR) is currently 51.22%.

In other news, EVP Craig L. Silliman sold 1,555 shares of the stock in a transaction that occurred on Tuesday, July 6th. The shares were sold at an average price of $56.45, for a total value of $87,779.75. Following the transaction, the executive vice president now owns 31,577 shares in the company, valued at approximately $1,782,521.65. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Tami A. Erwin sold 35,000 shares of the stock in a transaction that occurred on Monday, May 3rd. The stock was sold at an average price of $58.26, for a total transaction of $2,039,100.00. Following the completion of the transaction, the chief executive officer now owns 23,647 shares in the company, valued at approximately $1,377,674.22. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,903 shares of company stock worth $4,874,720. Company insiders own 0.10% of the company’s stock.

Several large investors have recently bought and sold shares of VZ. Norges Bank purchased a new position in shares of Verizon Communications during the 4th quarter valued at $2,373,000,000. Berkshire Hathaway Inc lifted its stake in shares of Verizon Communications by 8.3% during the 1st quarter. Berkshire Hathaway Inc now owns 158,824,575 shares of the cell phone carrier’s stock valued at $9,235,649,000 after buying an additional 12,108,079 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Verizon Communications by 2.2% during the 1st quarter. BlackRock Inc. now owns 305,370,449 shares of the cell phone carrier’s stock valued at $17,757,293,000 after buying an additional 6,619,930 shares in the last quarter. Diamond Hill Capital Management Inc. purchased a new position in shares of Verizon Communications during the 1st quarter valued at $241,988,000. Finally, Factorial Partners LLC raised its stake in Verizon Communications by 16,166.3% during the 1st quarter. Factorial Partners LLC now owns 3,611,115 shares of the cell phone carrier’s stock valued at $62,100,000 after purchasing an additional 3,588,915 shares during the period. Hedge funds and other institutional investors own 64.15% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.

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

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