Analysts Expect Verizon Communications Inc. (NYSE:VZ) Will Post Quarterly Sales of $33.59 Billion

Wall Street brokerages forecast that Verizon Communications Inc. (NYSE:VZGet Rating) will announce $33.59 billion in sales for the current quarter, according to Zacks. Fourteen analysts have provided estimates for Verizon Communications’ earnings, with the lowest sales estimate coming in at $31.92 billion and the highest estimate coming in at $34.25 billion. Verizon Communications posted sales of $33.76 billion during the same quarter last year, which suggests a negative year-over-year growth rate of 0.5%. The business is scheduled to announce its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Verizon Communications will report full year sales of $136.37 billion for the current fiscal year, with estimates ranging from $134.90 billion to $137.69 billion. For the next financial year, analysts anticipate that the company will post sales of $138.68 billion, with estimates ranging from $128.78 billion to $142.82 billion. Zacks’ sales calculations are a mean average based on a survey of analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZGet Rating) last released its earnings results on Friday, April 22nd. The cell phone carrier reported $1.35 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.35. The business had revenue of $33.60 billion during the quarter, compared to the consensus estimate of $33.61 billion. Verizon Communications had a net margin of 15.93% and a return on equity of 28.15%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.31 earnings per share.

A number of brokerages have commented on VZ. William Blair reiterated a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group cut shares of Verizon Communications from a “buy” rating to a “neutral” rating and cut their target price for the stock from $61.00 to $55.00 in a research note on Monday, April 25th. Tigress Financial raised 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. Finally, StockNews.com initiated coverage on shares of Verizon Communications in a research note on Thursday, March 31st. They set a “hold” rating for the company. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Verizon Communications presently has a consensus rating of “Hold” and a consensus price target of $57.93.

Shares of VZ stock opened at $47.88 on Thursday. The stock has a market cap of $201.08 billion, a P/E ratio of 9.30, a P/E/G ratio of 2.49 and a beta of 0.42. The company has a debt-to-equity ratio of 1.64, a current ratio of 0.76 and a quick ratio of 0.69. The company has a fifty day moving average price of $51.49 and a two-hundred day moving average price of $52.20. Verizon Communications has a one year low of $45.55 and a one year high of $59.26.

The company also recently declared a quarterly dividend, which was paid on Monday, May 2nd. Stockholders of record on Friday, April 8th were given a $0.64 dividend. The ex-dividend date was Thursday, April 7th. This represents a $2.56 dividend on an annualized basis and a dividend yield of 5.35%. Verizon Communications’s dividend payout ratio (DPR) is currently 49.71%.

In other news, EVP Craig L. Silliman sold 1,558 shares of the company’s stock in a transaction on Monday, April 4th. The shares were 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 in the company, valued at approximately $1,980,004. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Tami A. Erwin sold 23,647 shares of the company’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total transaction of $1,176,911.19. Following the completion of the sale, the chief executive officer now owns 21,817 shares of the company’s stock, valued at approximately $1,085,832.09. The disclosure for this sale can be found here. Insiders have sold a total of 26,763 shares of company stock valued at $1,342,807 in the last 90 days. 0.02% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the stock. First National Bank Sioux Falls boosted its holdings in shares of Verizon Communications by 2.8% in the 1st quarter. First National Bank Sioux Falls now owns 6,966 shares of the cell phone carrier’s stock worth $355,000 after buying an additional 190 shares during the last quarter. Mezzasalma Advisors LLC lifted its holdings in shares of Verizon Communications by 1.8% in the fourth quarter. Mezzasalma Advisors LLC now owns 10,687 shares of the cell phone carrier’s stock worth $555,000 after buying an additional 191 shares in the last quarter. Weaver Consulting Group increased its position in shares of Verizon Communications by 1.3% in the fourth quarter. Weaver Consulting Group now owns 14,798 shares of the cell phone carrier’s stock worth $769,000 after purchasing an additional 192 shares during the last quarter. Reitz Capital Advisors LLC grew its position in Verizon Communications by 2.0% during the fourth quarter. Reitz Capital Advisors LLC now owns 9,818 shares of the cell phone carrier’s stock valued at $550,000 after acquiring an additional 195 shares during the last quarter. Finally, Domani Wealth LLC grew its holdings in shares of Verizon Communications by 2.2% in the first quarter. Domani Wealth LLC now owns 9,145 shares of the cell phone carrier’s stock worth $466,000 after purchasing an additional 197 shares during the last quarter. 63.78% of the stock is currently owned by institutional investors.

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

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