Verizon Communications (VZ) Scheduled to Post Earnings on Tuesday

Posted by Defense World Staff on Oct 17th, 2023

Verizon Communications logo Verizon Communications (NYSE:VZ – Get Free Report) is scheduled to post its quarterly earnings results before the market opens on Tuesday, October 24th. Analysts expect Verizon Communications to post earnings of $1.20 per share for the quarter. Verizon Communications has set its FY23 guidance at $4.55-4.85 EPS and its FY 2023 guidance at $4.55-$4.85 EPS.Individual interested in participating in the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The cell phone carrier reported $1.21 EPS for the quarter, topping the consensus estimate of $1.17 by $0.04. Verizon Communications had a net margin of 15.58% and a return on equity of 22.28%. The firm had revenue of $32.60 billion for the quarter, compared to analysts’ expectations of $33.30 billion. During the same period in the previous year, the firm posted $1.31 EPS. The company’s revenue for the quarter was down 3.5% on a year-over-year basis. 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 1.9 %

Shares of NYSE:VZ opened at $31.25 on Tuesday. The company’s 50-day moving average price is $33.06 and its two-hundred day moving average price is $35.15. The company has a debt-to-equity ratio of 1.43, a current ratio of 0.73 and a quick ratio of 0.69. Verizon Communications has a one year low of $30.14 and a one year high of $42.58. The stock has a market capitalization of $131.38 billion, a PE ratio of 6.25, a price-to-earnings-growth ratio of 1.92 and a beta of 0.37.

Verizon Communications Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st. Shareholders of record on Tuesday, October 10th will be given a dividend of $0.665 per share. The ex-dividend date of this dividend is Friday, October 6th. This is a boost from Verizon Communications’s previous quarterly dividend of $0.65. This represents a $2.66 annualized dividend and a yield of 8.51%. Verizon Communications’s payout ratio is 53.20%.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Edward Jones lowered shares of Verizon Communications from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. Wells Fargo & Company reduced their price target on shares of Verizon Communications from $40.00 to $36.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 20th. Oppenheimer reiterated an “outperform” rating and set a $43.00 price target on shares of Verizon Communications in a research report on Tuesday, August 22nd. Morgan Stanley reissued an “overweight” rating and issued a $44.00 price objective on shares of Verizon Communications in a research note on Thursday, August 3rd. Finally, StockNews.com downgraded shares of Verizon Communications from a “buy” rating to a “hold” rating in a research note on Saturday, September 30th. Eight analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat.com, Verizon Communications currently has an average rating of “Hold” and an average target price of $43.40.

Get Our Latest Stock Analysis on VZ

Insider Activity

In related news, EVP Samantha Hammock sold 12,557 shares of the business’s stock in a transaction dated Friday, August 11th. The shares were sold at an average price of $33.29, for a total transaction of $418,022.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.02% of the company’s stock.

Institutional Trading of Verizon Communications

Several hedge funds have recently added to or reduced their stakes in the stock. Certified Advisory Corp boosted its stake in Verizon Communications by 1.0% in the 1st quarter. Certified Advisory Corp now owns 23,297 shares of the cell phone carrier’s stock worth $1,187,000 after buying an additional 233 shares during the last quarter. Fairfield Bush & CO. lifted its stake in shares of Verizon Communications by 2.1% in the 2nd quarter. Fairfield Bush & CO. now owns 16,660 shares of the cell phone carrier’s stock valued at $620,000 after purchasing an additional 350 shares in the last quarter. Shepherd Financial Partners LLC lifted its stake in shares of Verizon Communications by 9.2% in the 1st quarter. Shepherd Financial Partners LLC now owns 4,447 shares of the cell phone carrier’s stock valued at $224,000 after purchasing an additional 373 shares in the last quarter. KB Financial Partners LLC lifted its stake in shares of Verizon Communications by 3.8% in the 1st quarter. KB Financial Partners LLC now owns 10,951 shares of the cell phone carrier’s stock valued at $558,000 after purchasing an additional 401 shares in the last quarter. Finally, Syntax Advisors LLC lifted its stake in shares of Verizon Communications by 6.6% in the 4th quarter. Syntax Advisors LLC now owns 6,883 shares of the cell phone carrier’s stock valued at $271,000 after purchasing an additional 428 shares in the last quarter. Institutional investors own 61.06% of the company’s stock.

Verizon Communications Company Profile

(Get Free Report)

Verizon Communications Inc, through its subsidiaries, provides 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).