Verizon Communications (NYSE:VZ) Releases Earnings Results, Beats Expectations By $0.04 EPS

Verizon Communications (NYSE:VZ) released its earnings results on Monday. The cell phone carrier reported $1.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.17 by $0.04, MarketWatch Earnings reports. Verizon Communications had a return on equity of 32.15% and a net margin of 14.76%. The firm had revenue of $34.70 billion during the quarter, compared to analysts’ expectations of $34.47 billion. During the same period in the previous year, the firm posted $1.13 EPS. Verizon Communications’s revenue for the quarter was down .2% on a year-over-year basis.

VZ traded down $1.44 during midday trading on Wednesday, hitting $55.13. The company had a trading volume of 36,938,430 shares, compared to its average volume of 21,251,273. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.93 and a current ratio of 0.96. The company has a market capitalization of $228.13 billion, a PE ratio of 11.96, a P/E/G ratio of 3.54 and a beta of 0.44. Verizon Communications has a twelve month low of $48.84 and a twelve month high of $61.95. The firm’s 50-day simple moving average is $58.64 and its 200-day simple moving average is $58.84.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 1st. Shareholders of record on Friday, January 8th will be given a $0.6275 dividend. This represents a $2.51 annualized dividend and a yield of 4.55%. The ex-dividend date is Thursday, January 7th. Verizon Communications’s payout ratio is presently 52.18%.

Several research analysts recently commented on the company. Moffett Nathanson raised Verizon Communications from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $59.00 to $66.00 in a research note on Wednesday, December 2nd. Credit Suisse Group decreased their price target on Verizon Communications from $61.00 to $59.00 and set a “neutral” rating for the company in a report on Tuesday, January 19th. Wells Fargo & Company began coverage on Verizon Communications in a report on Monday, November 16th. They set an “equal weight” rating and a $60.00 price target for the company. Tigress Financial reaffirmed a “hold” rating on shares of Verizon Communications in a report on Sunday, November 1st. Finally, JPMorgan Chase & Co. raised Verizon Communications from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $61.00 to $65.00 in a report on Thursday, November 5th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $61.84.

In other Verizon Communications news, EVP Craig L. Silliman sold 10,411 shares of the firm’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $57.73, for a total value of $601,027.03. Following the completion of the sale, the executive vice president now owns 23,771 shares in the company, valued at approximately $1,372,299.83. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

About Verizon Communications

Verizon Communications Inc offers communications, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. Its Consumer segment provides postpaid and prepaid service plans; Internet access on notebook computers and tablets; wireless equipment, including smartphones and other handsets; and wireless-enabled Internet devices, such as tablets, laptop computers and netbooks, and other wireless-enabled connected devices, such as smart watches and other wearables.

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Earnings History for Verizon Communications (NYSE:VZ)

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