Brokerages forecast that Verizon Communications Inc. (NYSE:VZ) will report sales of $31.66 billion for the current fiscal quarter, Zacks Investment Research reports. Fifteen analysts have issued estimates for Verizon Communications' earnings. The lowest sales estimate is $31.10 billion and the highest is $32.32 billion. Verizon Communications posted sales of $32.89 billion during the same quarter last year, which would indicate a negative year over year growth rate of 3.7%. The firm is scheduled to announce its next quarterly earnings results on Friday, October 23rd.
On average, analysts expect that Verizon Communications will report full year sales of $127.96 billion for the current fiscal year, with estimates ranging from $125.72 billion to $129.26 billion. For the next fiscal year, analysts forecast that the business will post sales of $132.25 billion, with estimates ranging from $128.72 billion to $138.56 billion. Zacks Investment Research's sales averages are a mean average based on a survey of sell-side analysts that follow Verizon Communications.
Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Friday, July 24th. The cell phone carrier reported $1.18 EPS for the quarter, beating the Zacks' consensus estimate of $1.15 by $0.03. Verizon Communications had a net margin of 14.76% and a return on equity of 32.15%. The firm had revenue of $30.40 billion for the quarter, compared to the consensus estimate of $29.98 billion. During the same period in the previous year, the firm posted $1.23 earnings per share. The firm's revenue was down 5.2% on a year-over-year basis.
A number of analysts have issued reports on the stock. UBS Group lifted their target price on shares of Verizon Communications from $59.00 to $60.00 and gave the company a "neutral" rating in a research note on Monday, July 27th. Raymond James lifted their target price on shares of Verizon Communications from $61.00 to $64.00 and gave the company an "outperform" rating in a research note on Monday, July 27th. Oppenheimer assumed coverage on shares of Verizon Communications in a research note on Tuesday. They issued a "buy" rating and a $70.00 target price for the company. Moffett Nathanson reiterated a "hold" rating and issued a $62.00 target price on shares of Verizon Communications in a research note on Friday, July 24th. Finally, Tigress Financial reiterated a "hold" rating on shares of Verizon Communications in a research note on Tuesday, August 11th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of "Hold" and an average target price of $62.27.
Institutional investors have recently added to or reduced their stakes in the business. LFA Lugano Financial Advisors SA acquired a new position in Verizon Communications during the 2nd quarter valued at about $27,000. Toth Financial Advisory Corp bought a new position in Verizon Communications during the second quarter worth $34,000. Laidlaw Wealth Management LLC boosted its position in Verizon Communications by 6,131.5% during the second quarter. Laidlaw Wealth Management LLC now owns 1,967,354 shares of the cell phone carrier's stock worth $36,000 after purchasing an additional 1,935,783 shares during the period. HighMark Wealth Management LLC boosted its position in Verizon Communications by 52.1% during the second quarter. HighMark Wealth Management LLC now owns 788 shares of the cell phone carrier's stock worth $43,000 after purchasing an additional 270 shares during the period. Finally, Evolution Wealth Advisors LLC boosted its position in Verizon Communications by 166.7% during the second quarter. Evolution Wealth Advisors LLC now owns 800 shares of the cell phone carrier's stock worth $44,000 after purchasing an additional 500 shares during the period. Institutional investors own 64.85% of the company's stock.
NYSE VZ opened at $60.60 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 0.96 and a debt-to-equity ratio of 1.66. The stock has a market capitalization of $250.77 billion, a PE ratio of 13.15, a price-to-earnings-growth ratio of 3.67 and a beta of 0.46. The company has a 50 day moving average price of $58.96 and a two-hundred day moving average price of $56.47. Verizon Communications has a 12-month low of $48.84 and a 12-month high of $62.22.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 2nd. Investors of record on Friday, October 9th will be given a dividend of $0.6275 per share. This is an increase from Verizon Communications's previous quarterly dividend of $0.62. The ex-dividend date of this dividend is Thursday, October 8th. This represents a $2.51 annualized dividend and a yield of 4.14%. Verizon Communications's dividend payout ratio is 51.14%.
About Verizon Communications
Verizon Communications Inc, through its subsidiaries, offers communications, information, and entertainment products and services to consumers, businesses, and governmental agencies worldwide. The company's Wireless segment provides wireless voice and data services; Internet access on various notebook computers and tablets; international travel wireless services; and network access services to deliver various Internet of Things products and services, as well as offers digital advertising and digital media services platforms.
See Also: How can investors find ex-dividend dates?
Get a free copy of the Zacks research report on Verizon Communications (VZ)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio
Almost everyone loves a company that pays strong dividends. Who doesn't like receiving a check every quarter for simply owning a stock--especially if that stock is paying you back 4%, 5% or even 10% of its share price in annual income each year?. In a world where 10-year treasuries are yielding just above 2%, it seems hard to go wrong when buying a stock that's yielding significantly above the going rates on fixed-income assets. Unfortunately, the market rarely offers a free lunch.
While high-yield stocks may have a lot of near-term attractiveness, those same high-yields can often signal significant danger ahead. In some cases, it might mean that the company's dividend will stop growing or won't grow as fast as it used to. Worse yet, the company could cut its dividend, reduce the income you receive from owning the stock and drive down the value of the shares that you own.
4%-plus yields might seem like an easy opportunity to boost the investment income you receive, but high-yield stocks can just as often be a track reading to snare unsuspecting investors. It's not always easy to tell the difference though.
This slideshow highlights 10 high-yield dividend stocks that are paying an unsustainably large percentage of their earnings in the form of a dividend. These companies are all paying out more than 100% of their earnings per share in the form of a dividend, a sign that the advertised high-yield probably won't last.
View the "20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio".