Verizon Communications Inc. (NYSE:VZ) – Stock analysts at Oppenheimer Holdings lowered their Q4 2016 earnings per share (EPS) estimates for Verizon Communications in a research note issued to investors on Friday. Oppenheimer Holdings analyst T. Horan now anticipates that the brokerage will post earnings per share of $0.89 for the quarter, down from their previous estimate of $0.94. Oppenheimer Holdings currently has a “Market Perform” rating on the stock. Oppenheimer Holdings also issued estimates for Verizon Communications’ FY2018 earnings at $4.23 EPS.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.02. The business had revenue of $30.53 billion for the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The business’s revenue for the quarter was down 5.3% on a year-over-year basis. During the same period last year, the firm posted $1.04 earnings per share.
Other research analysts have also issued reports about the company. Jefferies Group reissued a “hold” rating on shares of Verizon Communications in a research report on Saturday, August 6th. Morgan Stanley upped their target price on Verizon Communications from $59.00 to $60.00 and gave the company an “overweight” rating in a research report on Thursday, July 28th. Pacific Crest reaffirmed a “hold” rating on shares of Verizon Communications in a research report on Wednesday, July 27th. Hilliard Lyons lowered Verizon Communications from a “buy” rating to a “neutral” rating and set a $53.00 target price on the stock. in a research report on Wednesday, July 27th. Finally, JPMorgan Chase & Co. boosted their price target on Verizon Communications from $50.00 to $56.00 and gave the company a “neutral” rating in a research note on Wednesday, July 27th. Twenty-four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Verizon Communications presently has an average rating of “Hold” and an average target price of $54.46.
Verizon Communications (NYSE:VZ) opened at 50.43 on Monday. Verizon Communications has a 12 month low of $43.79 and a 12 month high of $56.95. The stock has a market capitalization of $205.57 billion, a PE ratio of 14.25 and a beta of 0.30. The firm has a 50-day moving average price of $51.70 and a 200 day moving average price of $52.59.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Investors of record on Friday, October 7th will be given a $0.0125 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 annualized dividend and a yield of 0.10%. Verizon Communications’s payout ratio is 65.25%.
In related news, EVP Craig L. Silliman sold 672 shares of the stock in a transaction that occurred on Friday, August 26th. The stock was sold at an average price of $52.76, for a total value of $35,454.72. Following the completion of the transaction, the executive vice president now directly owns 10,526 shares in the company, valued at $555,351.76. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of VZ. Lowe fs LLC raised its position in Verizon Communications by 3.0% in the third quarter. Lowe fs LLC now owns 2,426 shares of the cell phone carrier’s stock valued at $126,000 after buying an additional 70 shares in the last quarter. Taylor Wealth Management Partners raised its position in Verizon Communications by 15.2% in the second quarter. Taylor Wealth Management Partners now owns 2,275 shares of the cell phone carrier’s stock valued at $127,000 after buying an additional 300 shares in the last quarter. Daiwa SB Investments Ltd. raised its position in Verizon Communications by 11,938.5% in the third quarter. Daiwa SB Investments Ltd. now owns 3,130 shares of the cell phone carrier’s stock valued at $163,000 after buying an additional 3,104 shares in the last quarter. First National Bank Sioux Falls raised its position in Verizon Communications by 8.7% in the second quarter. First National Bank Sioux Falls now owns 3,408 shares of the cell phone carrier’s stock valued at $190,000 after buying an additional 272 shares in the last quarter. Finally, Fenimore Asset Management Inc. purchased a new position in Verizon Communications during the second quarter valued at approximately $202,000. Institutional investors own 63.46% of the company’s stock.
About Verizon Communications
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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