Zacks Research Brokers Decrease Earnings Estimates for Verizon Communications Inc. (NYSE:VZ)

Verizon Communications Inc. (NYSE:VZ - Free Report) - Equities research analysts at Zacks Research decreased their Q4 2024 earnings per share (EPS) estimates for shares of Verizon Communications in a note issued to investors on Monday, May 13th. Zacks Research analyst R. Department now expects that the cell phone carrier will earn $1.09 per share for the quarter, down from their previous forecast of $1.11. The consensus estimate for Verizon Communications' current full-year earnings is $4.60 per share. Zacks Research also issued estimates for Verizon Communications' Q1 2025 earnings at $1.15 EPS, Q2 2025 earnings at $1.16 EPS, Q3 2025 earnings at $1.19 EPS, FY2025 earnings at $4.65 EPS, Q1 2026 earnings at $1.17 EPS and FY2026 earnings at $4.83 EPS.

Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.03. The firm had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a net margin of 8.44% and a return on equity of 20.41%. The business's revenue was up .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.20 earnings per share.

A number of other brokerages have also recently issued reports on VZ. UBS Group increased their target price on Verizon Communications from $37.00 to $43.00 and gave the stock a "neutral" rating in a report on Wednesday, January 24th. Citigroup lifted their price objective on Verizon Communications from $45.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, January 30th. Royal Bank of Canada upped their target price on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a report on Tuesday, April 2nd. Wells Fargo & Company cut their price target on shares of Verizon Communications from $44.00 to $40.00 and set an "equal weight" rating for the company in a report on Tuesday, April 23rd. Finally, KeyCorp raised their price objective on shares of Verizon Communications from $45.00 to $46.00 and gave the stock an "overweight" rating in a report on Wednesday, January 24th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $44.21.

Verizon Communications Price Performance

NYSE VZ traded down $0.05 on Tuesday, reaching $40.49. The company's stock had a trading volume of 17,662,803 shares, compared to its average volume of 19,634,990. The firm has a market cap of $170.43 billion, a PE ratio of 15.12, a price-to-earnings-growth ratio of 2.93 and a beta of 0.42. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications has a 52 week low of $30.14 and a 52 week high of $43.42. The business has a 50-day moving average price of $40.30 and a 200 day moving average price of $39.19.

Verizon Communications Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 1st. Investors of record on Wednesday, April 10th were given a $0.665 dividend. The ex-dividend date of this dividend was Tuesday, April 9th. This represents a $2.66 dividend on an annualized basis and a yield of 6.57%. Verizon Communications's payout ratio is 99.25%.

Insiders Place Their Bets

In other Verizon Communications news, CEO Kyle Malady sold 15,000 shares of Verizon Communications stock in a transaction on Thursday, February 15th. The shares were 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 approximately $2,387,576.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.03% of the company's stock.

Institutional Trading of Verizon Communications

Institutional investors and hedge funds have recently modified their holdings of the stock. Pacifica Partners Inc. grew its holdings in shares of Verizon Communications by 4.6% in the 4th quarter. Pacifica Partners Inc. now owns 5,800 shares of the cell phone carrier's stock valued at $223,000 after buying an additional 255 shares during the period. Private Portfolio Partners LLC grew its stake in Verizon Communications by 0.9% in the fourth quarter. Private Portfolio Partners LLC now owns 27,457 shares of the cell phone carrier's stock valued at $1,035,000 after acquiring an additional 255 shares during the period. Selective Wealth Management Inc. increased its holdings in shares of Verizon Communications by 2.8% in the fourth quarter. Selective Wealth Management Inc. now owns 9,511 shares of the cell phone carrier's stock worth $374,000 after acquiring an additional 257 shares in the last quarter. BKM Wealth Management LLC raised its position in shares of Verizon Communications by 7.4% during the first quarter. BKM Wealth Management LLC now owns 3,715 shares of the cell phone carrier's stock worth $156,000 after purchasing an additional 257 shares during the period. Finally, Horizon Bancorp Inc. IN lifted its holdings in shares of Verizon Communications by 24.9% during the 4th quarter. Horizon Bancorp Inc. IN now owns 1,293 shares of the cell phone carrier's stock valued at $49,000 after purchasing an additional 258 shares in the last quarter. 62.06% of the stock is owned by institutional investors.

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).