Verizon Communications Inc. (NYSE:VZ) – Stock analysts at Jefferies Financial Group lowered their Q4 2018 EPS estimates for shares of Verizon Communications in a report issued on Tuesday, October 23rd. Jefferies Financial Group analyst J. Janedis now anticipates that the cell phone carrier will post earnings per share of $1.09 for the quarter, down from their previous estimate of $1.11. Jefferies Financial Group also issued estimates for Verizon Communications’ Q2 2019 earnings at $1.17 EPS, Q3 2019 earnings at $1.18 EPS, Q4 2019 earnings at $1.13 EPS, FY2019 earnings at $4.63 EPS and FY2020 earnings at $4.81 EPS.
Verizon Communications (NYSE:VZ) last released its quarterly earnings data 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. Verizon Communications had a return on equity of 38.62% and a net margin of 23.88%. The business had revenue of $32.61 billion for the quarter, compared to analysts’ expectations of $32.45 billion. During the same quarter in the previous year, the business posted $0.98 EPS. Verizon Communications’s revenue for the quarter was up 2.8% on a year-over-year basis.
NYSE:VZ opened at $55.51 on Friday. Verizon Communications has a fifty-two week low of $43.97 and a fifty-two week high of $58.44. The company has a current ratio of 0.96, a quick ratio of 0.92 and a debt-to-equity ratio of 2.04. The stock has a market cap of $226.96 billion, a PE ratio of 14.84, a price-to-earnings-growth ratio of 2.19 and a beta of 0.71.
Institutional investors have recently made changes to their positions in the stock. HC Financial Advisors Inc. acquired a new position in shares of Verizon Communications during the 4th quarter worth approximately $1,371,000. Argent Trust Co increased its holdings in shares of Verizon Communications by 10.9% during the 4th quarter. Argent Trust Co now owns 48,315 shares of the cell phone carrier’s stock worth $2,558,000 after acquiring an additional 4,748 shares during the last quarter. Zeke Capital Advisors LLC increased its holdings in shares of Verizon Communications by 27.1% during the 1st quarter. Zeke Capital Advisors LLC now owns 117,919 shares of the cell phone carrier’s stock worth $5,639,000 after acquiring an additional 25,146 shares during the last quarter. Mackay Shields LLC acquired a new position in shares of Verizon Communications during the 1st quarter worth approximately $47,865,000. Finally, Hamel Associates Inc. increased its holdings in shares of Verizon Communications by 9.4% during the 1st quarter. Hamel Associates Inc. now owns 57,149 shares of the cell phone carrier’s stock worth $2,733,000 after acquiring an additional 4,925 shares during the last quarter. 64.09% of the stock is currently owned by institutional investors and hedge funds.
The company also recently announced a quarterly dividend, which will be paid on Thursday, November 1st. Investors of record on Wednesday, October 10th will be given a $0.6025 dividend. This represents a $2.41 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date of this dividend is Tuesday, October 9th. This is a positive change from Verizon Communications’s previous quarterly dividend of $0.59. Verizon Communications’s dividend payout ratio (DPR) is currently 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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