Verizon Communications (VZ) Projected to Post Quarterly Earnings on Friday

Verizon Communications (NYSE:VZ) is anticipated to release its earnings data before the market opens on Friday, January 24th. Analysts expect Verizon Communications to post earnings of $1.11 per share and revenue of $35,490,100.00 billion for the quarter. Verizon Communications has set its FY24 guidance at $4.50-4.70 EPS.Individual that wish to listen to the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ) last announced its quarterly earnings data on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. Verizon Communications had a net margin of 7.30% and a return on equity of 20.05%. The firm had revenue of $33.30 billion for the quarter, compared to analyst estimates of $33.42 billion. During the same period in the previous year, the company earned $1.22 earnings per share. The business’s quarterly revenue was up .9% 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 Trading Up 0.4 %

Shares of NYSE:VZ opened at $38.32 on Friday. Verizon Communications has a 52-week low of $37.58 and a 52-week high of $45.36. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. The stock has a market cap of $161.32 billion, a price-to-earnings ratio of 16.52, a PEG ratio of 3.17 and a beta of 0.46. The business has a 50-day moving average price of $41.11 and a 200-day moving average price of $41.73.

Verizon Communications Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 10th will be paid a $0.6775 dividend. The ex-dividend date is Friday, January 10th. This represents a $2.71 dividend on an annualized basis and a dividend yield of 7.07%. Verizon Communications’s payout ratio is currently 116.81%.

Analyst Upgrades and Downgrades

VZ has been the topic of several recent research reports. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. StockNews.com downgraded shares of Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Monday, December 16th. Scotiabank upped their price objective on shares of Verizon Communications from $46.50 to $47.25 and gave the stock a “sector perform” rating in a research report on Friday, October 18th. Bank of America raised their price objective on Verizon Communications from $41.00 to $45.00 and gave the company a “neutral” rating in a report on Thursday, September 26th. Finally, Raymond James boosted their price objective on Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. Ten investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $46.54.

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).