Verizon Communications (NYSE:VZ) will be posting its quarterly earnings results before the market opens on Tuesday, January 23rd. Analysts expect Verizon Communications to post earnings of $0.88 per share for the quarter.
Verizon Communications (NYSE:VZ) last issued its earnings results on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.98. Verizon Communications had a net margin of 12.80% and a return on equity of 58.66%. The firm had revenue of $31.70 billion for the quarter, compared to analysts’ expectations of $31.45 billion. During the same quarter last year, the company posted $1.01 earnings per share. Verizon Communications’s revenue was up 2.5% on a year-over-year basis. On average, analysts expect Verizon Communications to post $4 EPS for the current fiscal year and $4 EPS for the next fiscal year.
Verizon Communications (VZ) opened at $51.86 on Tuesday. 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 twelve month low of $42.80 and a twelve month high of $53.69. The stock has a market cap of $211,560.00, a PE ratio of 13.30, a price-to-earnings-growth ratio of 4.68 and a beta of 0.57.
A number of equities analysts have issued reports on the stock. HSBC cut shares of Verizon Communications from a “buy” rating to a “hold” rating and cut their target price for the stock from $54.83 to $42.80 in a report on Thursday, December 14th. They noted that the move was a valuation call. Bank of America set a $52.00 target price on shares of Verizon Communications and gave the stock a “buy” rating in a report on Friday, October 20th. Robert W. Baird reissued a “hold” rating and issued a $49.00 target price on shares of Verizon Communications in a report on Wednesday, October 4th. ValuEngine raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Friday, December 1st. Finally, KeyCorp reissued a “hold” rating on shares of Verizon Communications in a report on Saturday, October 21st. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. Verizon Communications currently has an average rating of “Hold” and a consensus price target of $51.98.
In related news, EVP Craig L. Silliman sold 610 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The shares were sold at an average price of $47.41, for a total transaction of $28,920.10. Following the transaction, the executive vice president now owns 3,269 shares in the company, valued at $154,983.29. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.13% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. increased its stake in shares of Verizon Communications by 2.1% during the second quarter. Vanguard Group Inc. now owns 282,894,542 shares of the cell phone carrier’s stock valued at $12,634,070,000 after acquiring an additional 5,837,702 shares during the period. Capital Research Global Investors increased its stake in shares of Verizon Communications by 15.1% during the second quarter. Capital Research Global Investors now owns 153,408,016 shares of the cell phone carrier’s stock valued at $6,851,202,000 after acquiring an additional 20,070,391 shares during the period. FMR LLC increased its stake in shares of Verizon Communications by 15.0% during the second quarter. FMR LLC now owns 61,833,096 shares of the cell phone carrier’s stock valued at $2,761,466,000 after acquiring an additional 8,077,275 shares during the period. Franklin Resources Inc. increased its stake in shares of Verizon Communications by 19.9% during the second quarter. Franklin Resources Inc. now owns 21,820,729 shares of the cell phone carrier’s stock valued at $974,515,000 after acquiring an additional 3,623,182 shares during the period. Finally, Macquarie Group Ltd. increased its stake in shares of Verizon Communications by 2.3% during the second quarter. Macquarie Group Ltd. now owns 15,812,316 shares of the cell phone carrier’s stock valued at $706,156,000 after acquiring an additional 360,041 shares during the period. Institutional investors and hedge funds own 63.22% 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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