Verizon Communications Inc. (NYSE:VZ) Expected to Announce Quarterly Sales of $33.38 Billion

Analysts expect Verizon Communications Inc. (NYSE:VZ – Get Rating) to report sales of $33.38 billion for the current quarter, according to Zacks Investment Research. Thirteen analysts have provided estimates for Verizon Communications’ earnings. The lowest sales estimate is $32.88 billion and the highest is $33.80 billion. Verizon Communications reported sales of $32.87 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 1.6%. The business is expected to announce its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Verizon Communications will report full year sales of $136.62 billion for the current year, with estimates ranging from $134.57 billion to $139.84 billion. For the next fiscal year, analysts forecast that the firm will post sales of $138.56 billion, with estimates ranging from $128.78 billion to $142.74 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that follow Verizon Communications.

Verizon Communications (NYSE:VZ – Get Rating) last released its quarterly earnings data on Tuesday, January 25th. The cell phone carrier reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. Verizon Communications had a return on equity of 28.94% and a net margin of 16.51%. The business had revenue of $34.10 billion for the quarter, compared to analyst estimates of $33.98 billion. During the same period last year, the firm posted $1.21 earnings per share. Verizon Communications’s revenue was up 1.8% compared to the same quarter last year.

Several equities research analysts have recently weighed in on VZ shares. The Goldman Sachs Group reiterated a “buy” rating and set a $61.00 price objective on shares of Verizon Communications in a research report on Friday, March 4th. Daiwa Capital Markets began coverage on shares of Verizon Communications in a research note on Thursday, December 23rd. They set a “neutral” rating and a $57.00 target price on the stock. Tigress Financial increased their target price on shares of Verizon Communications from $67.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, January 21st. JPMorgan Chase & Co. lowered shares of Verizon Communications from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $62.00 to $56.00 in a research note on Wednesday, January 26th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Verizon Communications from $56.00 to $57.00 in a research note on Tuesday, January 25th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and a consensus price target of $59.20.

Verizon Communications stock opened at $55.01 on Friday. The firm has a market cap of $230.92 billion, a P/E ratio of 10.32, a P/E/G ratio of 3.67 and a beta of 0.39. Verizon Communications has a one year low of $49.69 and a one year high of $59.85. The company has a debt-to-equity ratio of 1.72, a current ratio of 0.78 and a quick ratio of 0.71. The stock’s 50 day moving average is $52.97 and its 200 day moving average is $52.65.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Shareholders of record on Friday, April 8th will be paid a $0.64 dividend. This represents a $2.56 dividend on an annualized basis and a dividend yield of 4.65%. The ex-dividend date is Thursday, April 7th. Verizon Communications’s dividend payout ratio (DPR) is 48.03%.

In other news, EVP Craig L. Silliman sold 1,558 shares of the stock in a transaction dated Thursday, March 3rd. The shares were sold at an average price of $54.48, for a total value of $84,879.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Hans Erik Vestberg acquired 19,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 26th. The shares were bought at an average price of $52.55 per share, with a total value of $998,450.00. The disclosure for this purchase can be found here. Corporate insiders own 0.02% of the company’s stock.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Verizon Communications by 0.3% during the fourth quarter. BlackRock Inc. now owns 290,740,891 shares of the cell phone carrier’s stock worth $15,106,895,000 after buying an additional 791,443 shares during the last quarter. State Street Corp increased its stake in shares of Verizon Communications by 2.6% in the fourth quarter. State Street Corp now owns 170,483,451 shares of the cell phone carrier’s stock worth $8,858,320,000 after purchasing an additional 4,312,242 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Verizon Communications by 2.5% in the fourth quarter. Geode Capital Management LLC now owns 73,174,424 shares of the cell phone carrier’s stock worth $3,792,626,000 after purchasing an additional 1,776,263 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Verizon Communications by 8.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,847,194 shares of the cell phone carrier’s stock worth $2,953,781,000 after purchasing an additional 4,571,857 shares in the last quarter. Finally, Morgan Stanley increased its stake in shares of Verizon Communications by 4.2% in the third quarter. Morgan Stanley now owns 42,826,242 shares of the cell phone carrier’s stock worth $2,313,046,000 after purchasing an additional 1,718,891 shares in the last quarter. Institutional investors and hedge funds own 62.93% of the company’s stock.

Verizon Communications Company Profile (Get Rating)

Verizon Communications Inc, through its subsidiaries, offers communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled internet devices, such as tablets, and other wireless-enabled connected devices comprising smart watches.

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