Verizon Communications (VZ) Set to Announce Quarterly Earnings on Monday

Verizon Communications (NYSE:VZ - Get Free Report) is set to issue its quarterly earnings data before the market opens on Monday, April 22nd. Analysts expect the company to announce 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.Parties that are interested in participating in the company's conference call can do so using this link.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings data on Tuesday, January 23rd. The cell phone carrier reported $1.08 EPS for the quarter, meeting analysts' consensus estimates of $1.08. Verizon Communications had a net margin of 8.67% and a return on equity of 20.71%. The company had revenue of $35.10 billion for the quarter, compared to the consensus estimate of $34.60 billion. During the same period in the prior year, the firm posted $1.19 EPS. The company's quarterly revenue was down .6% compared to the same quarter last year. 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 Up 1.0 %

Shares of NYSE:VZ traded up $0.38 during trading hours on Monday, reaching $40.10. The stock had a trading volume of 16,440,718 shares, compared to its average volume of 19,791,131. Verizon Communications has a 1 year low of $30.14 and a 1 year high of $43.42. The firm's 50 day moving average is $40.60 and its 200-day moving average is $38.05. The company has a debt-to-equity ratio of 1.47, a quick ratio of 0.65 and a current ratio of 0.69. The stock has a market capitalization of $168.59 billion, a price-to-earnings ratio of 14.53, a P/E/G ratio of 3.24 and a beta of 0.41.

Verizon Communications Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 1st. Stockholders of record on Wednesday, April 10th will be issued a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.63%. The ex-dividend date of this dividend is Tuesday, April 9th. Verizon Communications's payout ratio is 96.38%.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Oppenheimer restated an "outperform" rating and issued a $48.00 target price on shares of Verizon Communications in a report on Wednesday, April 3rd. Royal Bank of Canada increased their price target on shares of Verizon Communications from $36.00 to $40.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 2nd. Raymond James increased their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the stock an "outperform" rating in a research note on Wednesday, January 24th. Daiwa Capital Markets upgraded shares of Verizon Communications from a "neutral" rating to an "outperform" rating and increased their price target for the stock from $36.00 to $47.00 in a research note on Wednesday, January 24th. Finally, Citigroup increased their price target on shares of Verizon Communications from $45.00 to $47.00 and gave the stock a "buy" rating in a research note on Tuesday, January 30th. Seven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $44.50.

Insiders Place Their Bets

In related news, CEO Kyle Malady sold 24,000 shares of the firm'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 value of $979,200.00. Following the sale, the chief executive officer now directly owns 35,201 shares of the company's stock, valued at $1,436,200.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.03% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Verizon Communications

Hedge funds have recently modified their holdings of the stock. FIL Ltd acquired a new position in Verizon Communications during the fourth quarter valued at approximately $317,000. Hobbs Group Advisors LLC acquired a new position in Verizon Communications during the fourth quarter valued at approximately $316,000. SageView Advisory Group LLC raised its stake in shares of Verizon Communications by 77.9% during the fourth quarter. SageView Advisory Group LLC now owns 61,643 shares of the cell phone carrier's stock valued at $2,324,000 after purchasing an additional 26,997 shares during the period. DRW Securities LLC raised its stake in shares of Verizon Communications by 6.4% during the fourth quarter. DRW Securities LLC now owns 12,996 shares of the cell phone carrier's stock valued at $490,000 after purchasing an additional 779 shares during the period. Finally, Oarsman Capital Inc. raised its stake in shares of Verizon Communications by 90.5% during the fourth quarter. Oarsman Capital Inc. now owns 28,387 shares of the cell phone carrier's stock valued at $1,070,000 after purchasing an additional 13,487 shares during the period. 62.06% of the stock is owned by institutional investors and hedge funds.

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).