Verizon Communications (NYSE:VZ) Issues Earnings Results, Beats Estimates By $0.03 EPS

Verizon Communications (NYSE:VZ - Get Free Report) posted its quarterly earnings results on Monday. The cell phone carrier reported $1.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.19 by $0.03, Zacks reports. Verizon Communications had a net margin of 13.14% and a return on equity of 19.66%. The firm had revenue of $34.50 billion for the quarter, compared to analyst estimates of $33.47 billion. During the same period in the prior year, the firm posted $1.15 earnings per share. The company's quarterly revenue was up 5.2% compared to the same quarter last year. Verizon Communications updated its FY 2025 guidance to 4.636-4.728 EPS.

Verizon Communications Trading Down 0.4%

Shares of VZ opened at $40.77 on Monday. Verizon Communications has a 1-year low of $37.59 and a 1-year high of $47.36. The firm's 50-day moving average price is $42.88 and its 200-day moving average price is $42.44. The company has a current ratio of 0.61, a quick ratio of 0.58 and a debt-to-equity ratio of 1.19. The firm has a market capitalization of $171.90 billion, a price-to-earnings ratio of 9.71, a PEG ratio of 3.28 and a beta of 0.37.

Verizon Communications Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 10th will be paid a $0.6775 dividend. The ex-dividend date is Thursday, July 10th. This represents a $2.71 annualized dividend and a dividend yield of 6.65%. Verizon Communications's payout ratio is presently 64.52%.

Insider Activity

In other Verizon Communications news, CEO Kyle Malady sold 9,000 shares of the business's stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $44.10, for a total value of $396,900.00. Following the sale, the chief executive officer directly owned 10,008 shares of the company's stock, valued at approximately $441,352.80. The trade was a 47.35% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last three months, insiders sold 21,500 shares of company stock valued at $938,400. 0.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Verizon Communications

A hedge fund recently raised its stake in Verizon Communications stock. Brighton Jones LLC boosted its position in shares of Verizon Communications Inc. (NYSE:VZ - Free Report) by 61.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,986 shares of the cell phone carrier's stock after acquiring an additional 16,704 shares during the period. Brighton Jones LLC's holdings in Verizon Communications were worth $1,759,000 at the end of the most recent quarter. 62.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VZ shares. Royal Bank Of Canada reaffirmed a "sector perform" rating and set a $45.00 target price (up from $42.00) on shares of Verizon Communications in a report on Tuesday, March 25th. Evercore ISI raised Verizon Communications from an "in-line" rating to an "outperform" rating and set a $48.00 target price for the company in a research note on Friday, April 11th. Arete Research raised Verizon Communications to a "strong-buy" rating in a report on Tuesday, July 8th. Scotiabank lifted their price target on shares of Verizon Communications from $48.50 to $49.00 and gave the stock a "sector perform" rating in a report on Wednesday, April 23rd. Finally, Wells Fargo & Company upped their target price on Verizon Communications from $42.00 to $43.00 and gave the company an "equal weight" rating in a report on Thursday, July 10th. Eleven investment analysts have rated the stock with a hold rating, seven have given a buy rating and three have issued a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $47.00.

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).