$1.35 Earnings Per Share Expected for Verizon Communications Inc. (NYSE:VZ) This Quarter

Analysts expect that Verizon Communications Inc. (NYSE:VZ – Get Rating) will post earnings per share of $1.35 for the current fiscal quarter, Zacks reports. Fourteen analysts have provided estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.39 and the lowest estimate coming in at $1.31. Verizon Communications reported earnings of $1.37 per share during the same quarter last year, which indicates a negative year-over-year growth rate of 1.5%. The firm is scheduled to issue its next earnings results before the market opens on Monday, January 1st.

According to Zacks, analysts expect that Verizon Communications will report full year earnings of $5.40 per share for the current year, with EPS estimates ranging from $5.33 to $5.44. For the next fiscal year, analysts forecast that the firm will report earnings of $5.58 per share, with EPS estimates ranging from $5.15 to $6.03. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Verizon Communications.

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

A number of research analysts recently issued reports on the company. William Blair restated a “market perform” rating on shares of Verizon Communications in a research note on Monday, April 25th. StockNews.com raised Verizon Communications from a “hold” rating to a “buy” rating in a research report on Thursday, May 12th. DZ Bank cut Verizon Communications from a “hold” rating to a “sell” rating and set a $44.00 price objective for the company. in a research report on Friday, April 29th. Finally, The Goldman Sachs Group cut Verizon Communications from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $61.00 to $55.00 in a research report on Monday, April 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $57.64.

NYSE:VZ traded down $0.11 during mid-day trading on Tuesday, reaching $51.29. 24,139,850 shares of the stock were exchanged, compared to its average volume of 24,737,922. The company has a 50 day simple moving average of $50.73 and a 200-day simple moving average of $51.94. The stock has a market capitalization of $215.40 billion, a P/E ratio of 9.96, a P/E/G ratio of 2.65 and a beta of 0.42. The company has a quick ratio of 0.69, a current ratio of 0.76 and a debt-to-equity ratio of 1.64. Verizon Communications has a 1 year low of $45.55 and a 1 year high of $57.61.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 1st. Investors of record on Friday, July 8th will be issued a dividend of $0.64 per share. This represents a $2.56 annualized dividend and a yield of 4.99%. Verizon Communications’s dividend payout ratio is presently 49.71%.

In related news, EVP Craig L. Silliman sold 1,558 shares of Verizon Communications stock in a transaction on Thursday, March 3rd. The stock was sold at an average price of $54.48, for a total transaction of $84,879.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Tami A. Erwin sold 23,647 shares of the firm’s stock in a transaction on Tuesday, April 26th. The stock was sold at an average price of $49.77, for a total value of $1,176,911.19. Following the transaction, the chief executive officer now directly 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. Over the last ninety days, insiders have sold 28,321 shares of company stock valued at $1,420,707. 0.02% of the stock is currently owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Rinkey Investments purchased a new stake in shares of Verizon Communications in the fourth quarter valued at $27,000. Cordant Inc. purchased a new stake in shares of Verizon Communications in the first quarter valued at $30,000. Econ Financial Services Corp purchased a new stake in shares of Verizon Communications in the fourth quarter valued at $32,000. Lansing Street Advisors purchased a new stake in shares of Verizon Communications in the first quarter valued at $35,000. Finally, Conrad Siegel Investment Advisors Inc. purchased a new stake in shares of Verizon Communications in the first quarter valued at $36,000. 63.78% of the stock is owned by institutional investors.

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.

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