Verizon Communications (VZ) Projected to Post 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.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ) last issued its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 earnings per share (EPS) 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 business had revenue of $33.30 billion for the quarter, compared to analysts’ expectations of $33.42 billion. During the same quarter in the previous year, the firm posted $1.22 EPS. The business’s revenue for the quarter 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 Stock Performance

NYSE VZ opened at $38.32 on Friday. The stock has a market capitalization of $161.32 billion, a PE ratio of 16.52, a P/E/G ratio of 3.17 and a beta of 0.46. Verizon Communications has a 1 year low of $37.58 and a 1 year high of $45.36. The company’s 50 day simple moving average is $41.11 and its two-hundred day simple moving average is $41.73. The company has a debt-to-equity ratio of 1.32, a current ratio of 0.66 and a quick ratio of 0.62.

Verizon Communications Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research analysts have recently commented on VZ shares. Bank of America lifted their price objective on Verizon Communications from $41.00 to $45.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Scotiabank increased their price objective on Verizon Communications from $46.50 to $47.25 and gave the company a “sector perform” rating in a research note on Friday, October 18th. Raymond James lifted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 24th. TD Cowen raised shares of Verizon Communications to a “strong-buy” rating in a research report on Wednesday. Finally, Tigress Financial boosted their price objective on shares of Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. Ten equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average 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).