Verizon Communications (VZ) to Release Earnings on Monday

Verizon Communications (NYSE:VZ) is set to post its quarterly earnings results before the market opens on Monday, April 22nd. Analysts expect Verizon Communications to post earnings of $1.12 per share for the quarter. Verizon Communications has set its FY24 guidance at $4.50-4.70 EPS and its FY 2024 guidance at 4.500-4.700 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, hitting analysts’ consensus estimates of $1.08. The company had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. Verizon Communications had a return on equity of 20.71% and a net margin of 8.67%. Verizon Communications’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.19 EPS. 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 Trading Up 0.9 %

Shares of NYSE VZ opened at $40.50 on Friday. The company has a market cap of $170.27 billion, a price-to-earnings ratio of 14.67, a price-to-earnings-growth ratio of 3.25 and a beta of 0.41. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a current ratio of 0.69, a quick ratio of 0.65 and a debt-to-equity ratio of 1.47. The stock’s 50 day simple moving average is $40.56 and its 200 day simple moving average is $38.24.

Verizon Communications Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.57%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications’s dividend payout ratio (DPR) is 96.38%.

Insider Transactions at Verizon Communications

In related news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $40.33, for a total transaction of $604,950.00. Following the completion of the sale, the chief executive officer now owns 59,201 shares of the company’s stock, valued at $2,387,576.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.02% of the stock is currently owned by insiders.

Institutional Trading of Verizon Communications

A number of institutional investors and hedge funds have recently made changes to their positions in VZ. True Wealth Design LLC bought a new position in shares of Verizon Communications in the fourth quarter worth about $42,000. Quarry LP increased its stake in shares of Verizon Communications by 657.3% in the second quarter. Quarry LP now owns 1,560 shares of the cell phone carrier’s stock worth $58,000 after purchasing an additional 1,354 shares during the period. Worth Asset Management LLC bought a new position in shares of Verizon Communications in the first quarter worth about $58,000. Financial Freedom LLC bought a new position in shares of Verizon Communications in the fourth quarter worth about $63,000. Finally, Retirement Investment Advisors Inc. bought a new position in shares of Verizon Communications in the first quarter worth about $64,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

VZ has been the topic of several recent analyst reports. Royal Bank of Canada lifted their target price on Verizon Communications from $36.00 to $40.00 and gave the company a “sector perform” rating in a research note on Tuesday, April 2nd. UBS Group lifted their target price on Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. StockNews.com downgraded Verizon Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Oppenheimer reaffirmed an “outperform” rating and set a $48.00 target price on shares of Verizon Communications in a research note on Wednesday, April 3rd. Finally, Citigroup lifted their target price on Verizon Communications from $45.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, January 30th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $44.50.

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).