$1.11 Earnings Per Share Expected for Verizon Communications Inc. (VZ) This Quarter

Wall Street brokerages expect Verizon Communications Inc. (NYSE:VZ) to post earnings of $1.11 per share for the current quarter, according to Zacks Investment Research. Nineteen analysts have issued estimates for Verizon Communications’ earnings, with the highest EPS estimate coming in at $1.22 and the lowest estimate coming in at $1.07. Verizon Communications reported earnings of $0.86 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.1%. The firm is scheduled to issue its next quarterly earnings results on Tuesday, January 22nd.

On average, analysts expect that Verizon Communications will report full year earnings of $4.69 per share for the current year, with EPS estimates ranging from $4.64 to $4.79. For the next year, analysts expect that the business will report earnings of $4.75 per share, with EPS estimates ranging from $4.63 to $5.11. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last posted its earnings results on Tuesday, October 23rd. The cell phone carrier reported $1.22 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.19 by $0.03. The business had revenue of $32.61 billion for the quarter, compared to analyst estimates of $32.45 billion. Verizon Communications had a net margin of 24.71% and a return on equity of 35.50%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.98 EPS.

Several equities analysts recently weighed in on the stock. Credit Suisse Group assumed coverage on shares of Verizon Communications in a report on Tuesday, July 10th. They set an “outperform” rating and a $58.00 target price on the stock. Scotiabank set a $62.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a report on Monday, October 1st. Robert W. Baird lifted their target price on shares of Verizon Communications from $52.00 to $53.00 and gave the company a “neutral” rating in a report on Wednesday, July 25th. Finally, ValuEngine upgraded shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Seven equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. Verizon Communications currently has a consensus rating of “Buy” and a consensus price target of $55.93.

A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its holdings in shares of Verizon Communications by 1.6% in the 1st quarter. BlackRock Inc. now owns 270,175,376 shares of the cell phone carrier’s stock valued at $12,919,788,000 after buying an additional 4,270,608 shares during the period. FMR LLC boosted its holdings in shares of Verizon Communications by 8.6% in the 2nd quarter. FMR LLC now owns 69,165,256 shares of the cell phone carrier’s stock valued at $3,479,704,000 after buying an additional 5,481,532 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of Verizon Communications by 4.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 52,863,812 shares of the cell phone carrier’s stock valued at $2,659,579,000 after buying an additional 2,302,664 shares during the period. Morgan Stanley boosted its holdings in shares of Verizon Communications by 3.3% in the 2nd quarter. Morgan Stanley now owns 34,759,538 shares of the cell phone carrier’s stock valued at $1,748,752,000 after buying an additional 1,119,926 shares during the period. Finally, Wells Fargo & Company MN boosted its holdings in shares of Verizon Communications by 1.1% in the 2nd quarter. Wells Fargo & Company MN now owns 28,728,425 shares of the cell phone carrier’s stock valued at $1,445,327,000 after buying an additional 308,334 shares during the period. 64.25% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:VZ opened at $57.09 on Monday. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 1.90. The firm has a market cap of $229.14 billion, a P/E ratio of 15.26, a price-to-earnings-growth ratio of 2.46 and a beta of 0.71. Verizon Communications has a twelve month low of $43.97 and a twelve month high of $58.80.

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be paid a dividend of $0.6025 per share. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date of this dividend is Tuesday, October 9th. This represents a $2.41 annualized dividend and a yield of 4.22%. Verizon Communications’s payout ratio is 64.44%.

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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