Verizon Communications (VZ) Set to Announce Earnings on Monday

Verizon Communications (NYSE:VZGet Free Report) 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.Persons that are interested in registering for the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZGet Free Report) last announced its earnings results on Tuesday, January 23rd. The cell phone carrier reported $1.08 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.08. The firm had revenue of $35.10 billion for the quarter, compared to analyst estimates of $34.60 billion. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The business’s revenue was down .6% compared to the same quarter last year. During the same quarter in the prior 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 Stock Performance

NYSE VZ opened at $39.72 on Monday. 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 firm has a market capitalization of $166.99 billion, a price-to-earnings ratio of 14.39, a P/E/G ratio of 3.24 and a beta of 0.41. The firm’s 50 day simple moving average is $40.60 and its 200 day simple moving average is $38.05. Verizon Communications has a 1 year low of $30.14 and a 1 year high of $43.42.

Verizon Communications Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Tuesday, April 9th. This represents a $2.66 annualized dividend and a dividend yield of 6.70%. Verizon Communications’s dividend payout ratio is 96.38%.

Insider Activity

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

Hedge Funds Weigh In On Verizon Communications

A number of hedge funds and other institutional investors have recently bought and sold shares of VZ. Moneta Group Investment Advisors LLC grew its stake in Verizon Communications by 88,532.0% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 79,084,569 shares of the cell phone carrier’s stock worth $3,115,932,000 after buying an additional 78,995,341 shares in the last quarter. Norges Bank purchased a new stake in Verizon Communications during the 4th quarter valued at $1,829,675,000. Morgan Stanley lifted its position in shares of Verizon Communications by 21.4% in the 4th quarter. Morgan Stanley now owns 67,976,459 shares of the cell phone carrier’s stock worth $2,678,273,000 after purchasing an additional 11,987,691 shares during the period. Legal & General Group Plc lifted its position in shares of Verizon Communications by 25.8% in the 4th quarter. Legal & General Group Plc now owns 37,483,223 shares of the cell phone carrier’s stock worth $1,413,117,000 after purchasing an additional 7,698,132 shares during the period. Finally, Renaissance Technologies LLC lifted its position in shares of Verizon Communications by 81.3% in the 1st quarter. Renaissance Technologies LLC now owns 10,604,493 shares of the cell phone carrier’s stock worth $540,193,000 after purchasing an additional 4,756,222 shares during the period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group increased their price objective on shares of Verizon Communications from $37.00 to $43.00 and gave the company a “neutral” rating in a research note on Wednesday, January 24th. Daiwa Capital Markets raised shares of Verizon Communications from a “neutral” rating to an “outperform” rating and lifted their target price for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. Wolfe Research upgraded shares of Verizon Communications from a “peer perform” rating to an “outperform” rating and set a $46.00 price target for the company in a report on Thursday, January 4th. Finally, Tigress Financial lifted their price objective on shares of Verizon Communications from $45.00 to $50.00 and gave the company a “buy” rating in a report on Thursday, January 25th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Verizon Communications presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.50.

Read Our Latest Research Report on VZ

About Verizon Communications

(Get Free Report)

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).

See Also

Earnings History for Verizon Communications (NYSE:VZ)

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