Wall Street analysts forecast that Verizon Communications Inc. (NYSE:VZ) will announce sales of $33.29 billion for the current quarter, Zacks reports. Sixteen analysts have issued estimates for Verizon Communications’ earnings. The highest sales estimate is $34.46 billion and the lowest is $32.01 billion. Verizon Communications reported sales of $32.34 billion in the same quarter last year, which would suggest a positive year over year growth rate of 2.9%. The business is scheduled to announce its next quarterly earnings report on Tuesday, January 23rd.
On average, analysts expect that Verizon Communications will report full-year sales of $33.29 billion for the current fiscal year, with estimates ranging from $123.86 billion to $126.89 billion. For the next year, analysts forecast that the firm will report sales of $127.34 billion per share, with estimates ranging from $124.79 billion to $130.41 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Verizon Communications.
Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Thursday, October 19th. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.98. Verizon Communications had a return on equity of 58.66% and a net margin of 12.80%. The business had revenue of $31.70 billion for the quarter, compared to the consensus estimate of $31.45 billion. During the same period last year, the business earned $1.01 EPS. The firm’s revenue was up 2.5% compared to the same quarter last year.
In related news, EVP Craig L. Silliman sold 610 shares of the business’s stock in a transaction on Wednesday, September 27th. The stock was sold at an average price of $49.23, for a total value of $30,030.30. Following the sale, the executive vice president now owns 6,599 shares of the company’s stock, valued at approximately $324,868.77. The sale was disclosed in a legal filing with the SEC, which is available through this link. In the last ninety days, insiders sold 1,830 shares of company stock worth $89,365. 0.13% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Truepoint Inc. raised its position in Verizon Communications by 6,378.0% in the 3rd quarter. Truepoint Inc. now owns 320,077 shares of the cell phone carrier’s stock valued at $320,000 after purchasing an additional 315,136 shares during the last quarter. Garde Capital Inc. raised its position in Verizon Communications by 369.9% in the 3rd quarter. Garde Capital Inc. now owns 26,479 shares of the cell phone carrier’s stock valued at $1,310,000 after purchasing an additional 20,844 shares during the last quarter. Archford Capital Strategies LLC raised its position in Verizon Communications by 3.1% in the 3rd quarter. Archford Capital Strategies LLC now owns 65,203 shares of the cell phone carrier’s stock valued at $3,227,000 after purchasing an additional 1,957 shares during the last quarter. Gyroscope Capital Management Group LLC raised its position in Verizon Communications by 22.8% in the 3rd quarter. Gyroscope Capital Management Group LLC now owns 7,361 shares of the cell phone carrier’s stock valued at $364,000 after purchasing an additional 1,368 shares during the last quarter. Finally, Moors & Cabot Inc. raised its position in Verizon Communications by 18.0% in the 3rd quarter. Moors & Cabot Inc. now owns 196,080 shares of the cell phone carrier’s stock valued at $9,706,000 after purchasing an additional 29,858 shares during the last quarter. Hedge funds and other institutional investors own 62.09% of the company’s stock.
Shares of Verizon Communications (VZ) traded up $0.65 during mid-day trading on Wednesday, hitting $45.42. The company had a trading volume of 18,732,228 shares, compared to its average volume of 15,441,178. The company has a debt-to-equity ratio of 4.05, a current ratio of 1.07 and a quick ratio of 1.02. Verizon Communications has a 1-year low of $42.80 and a 1-year high of $54.83. The company has a market cap of $182,640.00, a P/E ratio of 11.79, a price-to-earnings-growth ratio of 4.16 and a beta of 0.55.
The business also recently declared a quarterly dividend, which was paid on Wednesday, November 1st. Investors of record on Tuesday, October 10th were paid a $0.59 dividend. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.58. The ex-dividend date was Friday, October 6th. This represents a $2.36 annualized dividend and a yield of 5.20%. Verizon Communications’s payout ratio is currently 60.51%.
Verizon Communications Company Profile
Verizon Communications Inc is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. The Wireless segment offers communications products and services, including wireless voice and data services and equipment sales, to consumer, business and government customers across the United States.
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