Verizon Communications (VZ) to Release Earnings on Monday

Verizon Communications (NYSE:VZ) is set to announce its earnings results before the market opens on Monday, April 22nd. Analysts expect the company to announce 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.Parties interested in participating in the company’s conference call can do so using this link.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion during the quarter, compared to the consensus estimate of $34.60 billion. During the same quarter in the prior year, the firm earned $1.19 earnings per share. The firm’s revenue was down .6% compared to the same quarter last year. 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 Stock Up 0.9 %

Shares of VZ stock opened at $40.50 on Friday. The firm has a fifty day moving average of $40.56 and a 200-day moving average of $38.24. The company has a quick ratio of 0.65, a current ratio of 0.69 and a debt-to-equity ratio of 1.47. Verizon Communications has a 12-month low of $30.14 and a 12-month high of $43.42. The company has a market capitalization of $170.27 billion, a price-to-earnings ratio of 14.67, a P/E/G ratio of 3.25 and a beta of 0.41.

Verizon Communications Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be given a dividend of $0.665 per share. 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 is 96.38%.

Analyst Ratings Changes

Several brokerages have recently issued reports on VZ. Wells Fargo & Company increased their price objective on shares of Verizon Communications from $40.00 to $44.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 24th. Redburn Atlantic raised shares of Verizon Communications from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $33.00 to $39.00 in a research report on Friday, March 22nd. Raymond James increased their price objective on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an “outperform” rating in a research report on Wednesday, January 24th. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and raised their target price for the company from $36.00 to $47.00 in a research report on Wednesday, January 24th. Finally, UBS Group raised their target price on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research report on Wednesday, January 24th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $44.50.

Insider Buying and Selling at Verizon Communications

In other Verizon Communications news, CEO Kyle Malady sold 24,000 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $40.80, for a total value of $979,200.00. Following the completion of the sale, the chief executive officer now owns 35,201 shares in the company, valued at $1,436,200.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

A number of large investors have recently added to or reduced their stakes in the company. Altshuler Shaham Ltd raised its position in shares of Verizon Communications by 259.9% in the fourth quarter. Altshuler Shaham Ltd now owns 4,200 shares of the cell phone carrier’s stock valued at $165,000 after purchasing an additional 3,033 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Verizon Communications in the fourth quarter valued at about $154,000. AM Squared Ltd raised its position in shares of Verizon Communications by 18.8% in the first quarter. AM Squared Ltd now owns 3,800 shares of the cell phone carrier’s stock valued at $148,000 after purchasing an additional 600 shares during the period. O Dell Group LLC bought a new position in shares of Verizon Communications in the fourth quarter valued at about $138,000. Finally, Dagco Inc. bought a new position in shares of Verizon Communications in the fourth quarter valued at about $129,000. Institutional investors and hedge funds own 62.06% of the company’s stock.

About Verizon Communications

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).