Analysts Anticipate Verizon Communications Inc. (VZ) Will Post Quarterly Sales of $32.45 Billion

Analysts forecast that Verizon Communications Inc. (NYSE:VZ) will report sales of $32.45 billion for the current quarter, according to Zacks. Nineteen analysts have provided estimates for Verizon Communications’ earnings, with estimates ranging from $32.12 billion to $32.76 billion. Verizon Communications posted sales of $32.20 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.8%. The business is scheduled to issue its next earnings results on Tuesday, July 23rd.

According to Zacks, analysts expect that Verizon Communications will report full-year sales of $131.99 billion for the current fiscal year, with estimates ranging from $130.56 billion to $133.52 billion. For the next financial year, analysts expect that the business will report sales of $133.62 billion, with estimates ranging from $131.37 billion to $136.25 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its earnings results on Tuesday, April 23rd. The cell phone carrier reported $1.20 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.17 by $0.03. Verizon Communications had a net margin of 12.20% and a return on equity of 35.40%. The firm had revenue of $32.13 billion during the quarter, compared to the consensus estimate of $32.13 billion. During the same period in the prior year, the firm earned $1.17 EPS. The company’s revenue was up 1.1% compared to the same quarter last year.

A number of research analysts have recently weighed in on VZ shares. Zacks Investment Research raised shares of Verizon Communications from a “hold” rating to a “buy” rating and set a $64.00 target price for the company in a research report on Saturday, January 26th. ValuEngine downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Tuesday, January 29th. Goldman Sachs Group reissued a “buy” rating and set a $65.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Bank of America set a $64.00 target price on shares of Verizon Communications and gave the company a “buy” rating in a research report on Tuesday, April 23rd. Finally, Royal Bank of Canada reissued a “neutral” rating and set a $57.00 target price on shares of Verizon Communications in a research report on Tuesday, April 23rd. Ten equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Verizon Communications has an average rating of “Hold” and a consensus price target of $57.76.

Shares of Verizon Communications stock traded up $0.43 on Friday, reaching $56.91. 10,707,000 shares of the company traded hands, compared to its average volume of 14,444,188. Verizon Communications has a 52 week low of $47.13 and a 52 week high of $61.58. The company has a market capitalization of $233.06 billion, a P/E ratio of 12.08, a P/E/G ratio of 2.98 and a beta of 0.48. The company has a quick ratio of 0.83, a current ratio of 0.87 and a debt-to-equity ratio of 1.83.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were paid a dividend of $0.6025 per share. This represents a $2.41 dividend on an annualized basis and a dividend yield of 4.23%. The ex-dividend date was Tuesday, April 9th. Verizon Communications’s payout ratio is currently 51.17%.

In related news, SVP Anthony T. Skiadas sold 6,134 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $57.11, for a total transaction of $350,312.74. Following the sale, the senior vice president now directly owns 20,000 shares in the company, valued at approximately $1,142,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Craig L. Silliman sold 1,349 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $56.06, for a total transaction of $75,624.94. Following the sale, the executive vice president now owns 28,077 shares in the company, valued at $1,573,996.62. The disclosure for this sale can be found here. Insiders have sold a total of 296,169 shares of company stock worth $16,805,577 over the last 90 days. 0.03% of the stock is currently owned by corporate insiders.

Several hedge funds have recently made changes to their positions in the stock. WP Advisors LLC purchased a new stake in Verizon Communications in the 1st quarter worth approximately $25,000. Contravisory Investment Management Inc. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $34,000. Next Capital Management LLC purchased a new stake in Verizon Communications in the 4th quarter worth approximately $35,000. Stone House Investment Management LLC purchased a new stake in Verizon Communications in the 1st quarter worth approximately $36,000. Finally, Mizuho Securities Co. Ltd. purchased a new stake in Verizon Communications in the 1st quarter worth approximately $38,000. Institutional investors own 67.04% of the company’s stock.

Verizon Communications Company Profile

Verizon Communications, Inc is a holding company, which engages in the provision communications, information and entertainment products and services to consumers, businesses and governmental agencies. It operates through Wireless and Wireline segments. The Wireless segment provides wireless voice and data services and equipment sales, which are provided to consumer, business, and government customers.

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Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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