Verizon Communications (NYSE:VZ – Get Free Report) posted its quarterly earnings results on Tuesday. The cell phone carrier reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01, Briefing.com reports. The firm had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The firm’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.22 earnings per share. Verizon Communications updated its FY24 guidance to $4.50-4.70 EPS.
Verizon Communications Stock Performance
Shares of VZ opened at $41.51 on Wednesday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.60. Verizon Communications has a 12-month low of $31.26 and a 12-month high of $45.36. The business’s fifty day moving average price is $43.01 and its 200 day moving average price is $41.28. The stock has a market capitalization of $174.73 billion, a PE ratio of 15.49, a price-to-earnings-growth ratio of 4.02 and a beta of 0.42.
Verizon Communications Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Thursday, October 10th will be given a dividend of $0.678 per share. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 annualized dividend and a dividend yield of 6.53%. The ex-dividend date of this dividend is Thursday, October 10th. Verizon Communications’s dividend payout ratio is currently 101.12%.
Wall Street Analysts Forecast Growth
Get Our Latest Analysis on Verizon Communications
Verizon Communications Company Profile
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).
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