Verizon Communications (VZ) Set to Announce Earnings on Monday

Verizon Communications (NYSE:VZ) will be posting its quarterly earnings results before the market opens on Monday, April 22nd. Analysts expect Verizon Communications to post earnings of $1.12 per share for the quarter. Verizon Communications has set its FY24 guidance at $4.50-4.70 EPS and its FY 2024 guidance at 4.500-4.700 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. During the same period in the prior year, the business posted $1.19 EPS. The business’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts expect Verizon Communications to post $5 EPS for the current fiscal year and $5 EPS for the next fiscal year.

Verizon Communications Stock Performance

Shares of VZ stock opened at $39.72 on Monday. The firm’s 50 day moving average price is $40.60 and its 200-day moving average price is $38.05. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. Verizon Communications has a one year low of $30.14 and a one year high of $43.42. The firm has a market cap of $166.99 billion, a P/E ratio of 14.39, a P/E/G ratio of 3.24 and a beta of 0.41.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.70%. Verizon Communications’s dividend payout ratio is currently 96.38%.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of the stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $40.33, for a total value of $604,950.00. Following the sale, the chief executive officer now directly owns 59,201 shares of the company’s stock, valued at approximately $2,387,576.33. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.02% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Altshuler Shaham Ltd grew its position in shares of Verizon Communications by 259.9% in the 4th quarter. Altshuler Shaham Ltd now owns 4,200 shares of the cell phone carrier’s stock valued at $165,000 after buying an additional 3,033 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Verizon Communications during the 4th quarter worth $154,000. AM Squared Ltd grew its position in Verizon Communications by 18.8% during the 1st quarter. AM Squared Ltd now owns 3,800 shares of the cell phone carrier’s stock worth $148,000 after purchasing an additional 600 shares during the last quarter. O Dell Group LLC purchased a new position in Verizon Communications during the 4th quarter worth $138,000. Finally, Dagco Inc. purchased a new position in Verizon Communications during the 4th quarter worth $129,000. 62.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. Raymond James upped their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a report on Wednesday, January 24th. Barclays upped their price objective on shares of Verizon Communications from $42.00 to $44.00 and gave the stock an “equal weight” rating in a report on Friday, January 26th. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 target price on the stock in a report on Thursday, January 4th. Citigroup increased their target price on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, January 30th. Finally, KeyCorp increased their target price on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an “overweight” rating in a report on Wednesday, January 24th. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Verizon Communications presently has an average rating of “Moderate Buy” and an average target price of $44.50.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).