Brokerages expect that Verizon Communications Inc. (NYSE:VZ) will report sales of $34.44 billion for the current quarter, according to Zacks. Seventeen analysts have provided estimates for Verizon Communications’ earnings, with the lowest sales estimate coming in at $33.45 billion and the highest estimate coming in at $34.85 billion. Verizon Communications posted sales of $34.28 billion in the same quarter last year, which suggests a positive year-over-year growth rate of 0.5%. The business is expected to report its next earnings report on Tuesday, February 4th.

According to Zacks, analysts expect that Verizon Communications will report full-year sales of $131.55 billion for the current year, with estimates ranging from $130.99 billion to $131.94 billion. For the next financial year, analysts forecast that the business will post sales of $133.31 billion, with estimates ranging from $130.21 billion to $134.89 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that that provide coverage for Verizon Communications.

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Friday, October 25th. The cell phone carrier reported $1.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.24 by $0.01. The firm had revenue of $32.89 billion during the quarter, compared to analyst estimates of $32.74 billion. Verizon Communications had a return on equity of 34.50% and a net margin of 12.26%. The business’s revenue for the quarter was up .9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.22 EPS.

Several research analysts have recently commented on VZ shares. Moffett Nathanson set a $57.00 price target on Verizon Communications and gave the stock a “hold” rating in a research report on Friday, October 25th. Oppenheimer raised Verizon Communications from a “market perform” rating to an “outperform” rating and set a $70.00 price target for the company in a research report on Tuesday, August 27th. HSBC lowered Verizon Communications from a “buy” rating to a “hold” rating and set a $65.00 price target for the company. in a research report on Thursday, November 14th. Sanford C. Bernstein started coverage on Verizon Communications in a research report on Tuesday, October 15th. They issued a “market perform” rating and a $63.00 price target for the company. Finally, Guggenheim boosted their price target on Verizon Communications from $65.00 to $69.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $62.84.

In other Verizon Communications news, EVP Craig L. Silliman sold 1,349 shares of the business’s stock in a transaction dated Thursday, September 26th. The stock was sold at an average price of $60.14, for a total transaction of $81,128.86. Following the sale, the executive vice president now owns 21,332 shares in the company, valued at approximately $1,282,906.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Craig L. Silliman sold 1,346 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $59.55, for a total value of $80,154.30. Following the sale, the executive vice president now owns 18,637 shares in the company, valued at approximately $1,109,833.35. The disclosure for this sale can be found here. Insiders have sold a total of 4,044 shares of company stock worth $242,790 over the last ninety days. 0.03% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Verizon Communications by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 324,299,254 shares of the cell phone carrier’s stock valued at $18,527,217,000 after purchasing an additional 4,562,510 shares during the last quarter. BlackRock Inc. grew its stake in Verizon Communications by 1.7% during the 2nd quarter. BlackRock Inc. now owns 317,036,667 shares of the cell phone carrier’s stock valued at $18,112,307,000 after purchasing an additional 5,319,802 shares during the last quarter. State Street Corp boosted its stake in shares of Verizon Communications by 0.3% in the third quarter. State Street Corp now owns 162,854,317 shares of the cell phone carrier’s stock worth $9,829,887,000 after buying an additional 509,082 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Verizon Communications by 1.5% in the second quarter. Northern Trust Corp now owns 53,708,472 shares of the cell phone carrier’s stock worth $3,068,366,000 after buying an additional 785,670 shares during the last quarter. Finally, Morgan Stanley boosted its stake in shares of Verizon Communications by 5.0% in the second quarter. Morgan Stanley now owns 34,002,255 shares of the cell phone carrier’s stock worth $1,942,547,000 after buying an additional 1,627,183 shares during the last quarter. Institutional investors and hedge funds own 65.28% of the company’s stock.

Shares of VZ traded down $0.28 during trading hours on Monday, hitting $59.96. The company had a trading volume of 9,141,942 shares, compared to its average volume of 12,980,205. The company has a market capitalization of $249.14 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 3.87 and a beta of 0.52. The company has a current ratio of 0.89, a quick ratio of 0.85 and a debt-to-equity ratio of 1.99. Verizon Communications has a one year low of $52.28 and a one year high of $61.34. The company’s fifty day moving average price is $60.03 and its two-hundred day moving average price is $58.34.

Verizon Communications Company Profile

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.

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Earnings History and Estimates for Verizon Communications (NYSE:VZ)

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