Verizon Communications Inc. (VZ) Expected to Announce Quarterly Sales of $32.43 Billion

Equities research analysts predict that Verizon Communications Inc. (NYSE:VZ) will report sales of $32.43 billion for the current quarter, Zacks reports. Eighteen analysts have provided estimates for Verizon Communications’ earnings, with the highest sales estimate coming in at $32.93 billion and the lowest estimate coming in at $31.60 billion. Verizon Communications reported sales of $31.72 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 2.2%. The firm is expected to announce its next quarterly earnings report on Thursday, October 18th.

On average, analysts expect that Verizon Communications will report full year sales of $130.50 billion for the current fiscal year, with estimates ranging from $128.81 billion to $132.22 billion. For the next year, analysts expect that the company will report sales of $131.87 billion per share, with estimates ranging from $129.28 billion to $135.34 billion. Zacks’ sales calculations are an average based on a survey of research firms that follow Verizon Communications.

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

Several research firms have recently issued reports on VZ. Barclays cut Verizon Communications from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $56.00 to $50.00 in a research note on Tuesday, September 4th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $56.00 price target on shares of Verizon Communications in a research note on Tuesday, September 4th. Zacks Investment Research raised Verizon Communications from a “hold” rating to a “buy” rating and set a $59.00 price target on the stock in a research note on Wednesday, August 8th. Credit Suisse Group began coverage on Verizon Communications in a research note on Tuesday, July 10th. They issued an “outperform” rating and a $58.00 price target on the stock. Finally, Robert W. Baird upped their price target on Verizon Communications from $52.00 to $53.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 25th. Six equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. Verizon Communications has an average rating of “Buy” and an average price target of $55.32.

A number of institutional investors have recently added to or reduced their stakes in VZ. HC Financial Advisors Inc. acquired a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $1,371,000. Venturi Wealth Management LLC raised its holdings in shares of Verizon Communications by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 119,270 shares of the cell phone carrier’s stock valued at $6,313,000 after acquiring an additional 8,180 shares during the period. Investors Research Corp acquired a new stake in shares of Verizon Communications during the fourth quarter valued at approximately $517,000. Capital Advantage Inc. raised its holdings in shares of Verizon Communications by 14.2% during the fourth quarter. Capital Advantage Inc. now owns 12,741 shares of the cell phone carrier’s stock valued at $674,000 after acquiring an additional 1,582 shares during the period. Finally, Advent Capital Management DE raised its holdings in shares of Verizon Communications by 20.0% during the fourth quarter. Advent Capital Management DE now owns 150,000 shares of the cell phone carrier’s stock valued at $7,940,000 after acquiring an additional 25,000 shares during the period. 63.99% of the stock is currently owned by institutional investors and hedge funds.

Shares of VZ traded down $0.66 during mid-day trading on Friday, hitting $53.76. 381,356 shares of the company’s stock traded hands, compared to its average volume of 14,050,285. The company has a debt-to-equity ratio of 2.04, a quick ratio of 0.92 and a current ratio of 0.96. Verizon Communications has a 1 year low of $43.97 and a 1 year high of $55.42. The stock has a market capitalization of $224.64 billion, a PE ratio of 14.52, a price-to-earnings-growth ratio of 1.97 and a beta of 0.69.

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Shareholders of record on Wednesday, October 10th will be issued a $0.6025 dividend. This represents a $2.41 annualized dividend and a yield of 4.48%. This is an increase from Verizon Communications’s previous quarterly dividend of $0.59. The ex-dividend date is Tuesday, October 9th. Verizon Communications’s payout ratio is 63.10%.

Verizon Communications Company Profile

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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