Analysts Expect Verizon Communications Inc. (VZ) to Announce $1.18 EPS

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Wall Street analysts predict that Verizon Communications Inc. (NYSE:VZ) will post earnings per share (EPS) of $1.18 for the current quarter, according to Zacks. Eighteen analysts have issued estimates for Verizon Communications’ earnings. The lowest EPS estimate is $1.15 and the highest is $1.23. Verizon Communications reported earnings of $0.98 per share in the same quarter last year, which would indicate a positive year over year growth rate of 20.4%. The company is scheduled to announce its next earnings results before the market opens on Tuesday, October 23rd.

On average, analysts expect that Verizon Communications will report full-year earnings of $4.66 per share for the current financial year, with EPS estimates ranging from $4.62 to $4.79. For the next fiscal year, analysts expect that the company will report earnings of $4.77 per share, with EPS estimates ranging from $4.64 to $5.11. Zacks’ earnings per share averages are a mean average based on a survey of sell-side analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its quarterly earnings data on Tuesday, July 24th. The cell phone carrier reported $1.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.14 by $0.06. Verizon Communications had a net margin of 23.88% and a return on equity of 38.62%. The firm had revenue of $32.20 billion for the quarter, compared to analysts’ expectations of $31.78 billion. During the same quarter in the previous year, the company earned $0.96 earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year.

A number of research firms have issued reports on VZ. Zacks Investment Research cut shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, October 1st. Moffett Nathanson restated a “neutral” rating and issued a $56.00 price objective on shares of Verizon Communications in a research report on Tuesday, September 4th. Barclays cut shares of Verizon Communications from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $56.00 to $50.00 in a research report on Tuesday, September 4th. Scotiabank set a $61.00 price objective on shares of Verizon Communications and gave the company a “buy” rating in a research report on Wednesday, July 25th. Finally, Robert W. Baird boosted their price objective on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a research report on Wednesday, July 25th. Seven research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $55.42.

Shares of VZ stock traded up $0.40 during mid-day trading on Friday, reaching $53.73. The stock had a trading volume of 18,721,974 shares, compared to its average volume of 15,680,338. Verizon Communications has a 52-week low of $43.97 and a 52-week high of $55.90. The stock has a market capitalization of $220.39 billion, a price-to-earnings ratio of 14.37, a PEG ratio of 1.94 and a beta of 0.71. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 2.04.

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a dividend of $0.6025 per share. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.41 annualized dividend and a dividend yield of 4.49%. This is a boost from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s payout ratio is currently 64.44%.

Several hedge funds and other institutional investors have recently made changes to their positions in VZ. Canton Hathaway LLC purchased a new stake in Verizon Communications in the third quarter worth about $374,000. Selective Wealth Management purchased a new stake in Verizon Communications in the third quarter worth about $387,000. Berkshire Asset Management LLC PA grew its holdings in Verizon Communications by 43.9% in the third quarter. Berkshire Asset Management LLC PA now owns 36,052 shares of the cell phone carrier’s stock worth $1,925,000 after purchasing an additional 11,000 shares during the period. Gemmer Asset Management LLC grew its holdings in Verizon Communications by 8.2% in the third quarter. Gemmer Asset Management LLC now owns 22,741 shares of the cell phone carrier’s stock worth $1,214,000 after purchasing an additional 1,716 shares during the period. Finally, Busey Trust CO grew its holdings in Verizon Communications by 1.2% in the third quarter. Busey Trust CO now owns 231,449 shares of the cell phone carrier’s stock worth $12,357,000 after purchasing an additional 2,780 shares during the period. Institutional investors own 64.04% of the company’s stock.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; multimedia, business-focused, and location-based services, as well as international travel services; and network access services to deliver various Internet of Things products and services.

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