FY2022 EPS Estimates for Verizon Communications Inc. (NYSE:VZ) Reduced by William Blair

Verizon Communications Inc. (NYSE:VZGet Rating) – Stock analysts at William Blair reduced their FY2022 earnings per share (EPS) estimates for shares of Verizon Communications in a research report issued on Monday, April 25th. William Blair analyst J. Breen now forecasts that the cell phone carrier will post earnings of $5.40 per share for the year, down from their previous forecast of $5.52. William Blair currently has a “Market Perform” rating on the stock.

Verizon Communications (NYSE:VZGet Rating) last issued its quarterly earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.35. Verizon Communications had a net margin of 16.51% and a return on equity of 28.94%. The company had revenue of $33.60 billion during the quarter, compared to analyst estimates of $33.61 billion. During the same period in the prior year, the business posted $1.31 EPS. The business’s revenue for the quarter was up 2.2% compared to the same quarter last year.

Several other research analysts have also weighed in on the stock. StockNews.com assumed coverage on shares of Verizon Communications in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. JPMorgan Chase & Co. downgraded shares of Verizon Communications from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $62.00 to $56.00 in a report on Wednesday, January 26th. The Goldman Sachs Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $61.00 to $55.00 in a research note on Monday. Deutsche Bank Aktiengesellschaft increased their target price on shares of Verizon Communications from $56.00 to $57.00 in a research report on Tuesday, January 25th. Finally, Tigress Financial increased their price objective on shares of Verizon Communications from $67.00 to $68.00 and gave the stock a “buy” rating in a report on Friday, January 21st. One equities research analyst has rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $58.93.

VZ stock opened at $48.46 on Thursday. Verizon Communications has a 52-week low of $48.42 and a 52-week high of $59.85. The company’s 50 day simple moving average is $52.70 and its 200-day simple moving average is $52.52. 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 firm has a market capitalization of $203.43 billion, a P/E ratio of 9.41, a P/E/G ratio of 3.75 and a beta of 0.39.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 2nd. Investors of record on Friday, April 8th will be given a $0.64 dividend. This represents a $2.56 annualized dividend and a dividend yield of 5.28%. The ex-dividend date is Thursday, April 7th. Verizon Communications’s dividend payout ratio (DPR) is 49.71%.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction that occurred on Monday, April 4th. The stock was sold at an average price of $52.00, for a total value of $81,016.00. Following the completion of the sale, the executive vice president now owns 38,077 shares of the company’s stock, valued at $1,980,004. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.10% of the stock is currently owned by corporate insiders.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Round Rock Advisors LLC lifted its stake in Verizon Communications by 49.1% in the first quarter. Round Rock Advisors LLC now owns 11,165 shares of the cell phone carrier’s stock worth $569,000 after acquiring an additional 3,677 shares during the period. Chevy Chase Trust Holdings Inc. lifted its stake in Verizon Communications by 7.5% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 4,571,338 shares of the cell phone carrier’s stock worth $232,864,000 after acquiring an additional 318,694 shares during the period. VeraBank N.A. lifted its stake in Verizon Communications by 8.8% in the first quarter. VeraBank N.A. now owns 24,226 shares of the cell phone carrier’s stock worth $1,234,000 after acquiring an additional 1,951 shares during the period. Cyrus J. Lawrence LLC bought a new position in Verizon Communications in the first quarter worth $403,000. Finally, Bill Few Associates Inc. raised its holdings in Verizon Communications by 5.2% in the first quarter. Bill Few Associates Inc. now owns 77,205 shares of the cell phone carrier’s stock worth $3,933,000 after purchasing an additional 3,816 shares in the last quarter. 62.93% of the stock is owned by institutional investors and hedge funds.

About Verizon Communications (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.

Further Reading

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

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