Verizon Communications (VZ) to Release Quarterly Earnings on Friday

Verizon Communications (NYSE:VZ) will likely be issuing its quarterly earnings data before the market opens on Friday, January 24th. Analysts expect the company to announce earnings of $1.11 per share and revenue of $35,490,100.00 billion for the quarter. Investors that are interested in registering for the company’s conference call can do so using this link.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion during the quarter, compared to analysts’ expectations of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The business’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.22 earnings per share. 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 Down 0.2 %

Shares of Verizon Communications stock opened at $38.95 on Thursday. Verizon Communications has a 12-month low of $37.58 and a 12-month high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The stock has a 50 day moving average price of $40.97 and a two-hundred day moving average price of $41.66. The stock has a market capitalization of $163.97 billion, a P/E ratio of 16.79, a PEG ratio of 3.25 and a beta of 0.46.

Verizon Communications Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 10th will be issued a dividend of $0.6775 per share. This represents a $2.71 annualized dividend and a dividend yield of 6.96%. The ex-dividend date is Friday, January 10th. Verizon Communications’s dividend payout ratio is currently 116.81%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Bank of America lifted their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a research note on Thursday, September 26th. StockNews.com cut shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research note on Monday, December 16th. Tigress Financial upped their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Sanford C. Bernstein initiated coverage on shares of Verizon Communications in a research note on Tuesday, December 10th. They issued a “market perform” rating and a $48.00 target price for the company. Finally, TD Cowen raised Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and an average price target of $46.54.

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).