Verizon Communications (NYSE:VZ) released its quarterly earnings results on Tuesday. The cell phone carrier reported $1.37 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.30 by $0.07, MarketWatch Earnings reports. Verizon Communications had a net margin of 14.58% and a return on equity of 30.10%. The business had revenue of $33.76 billion for the quarter, compared to the consensus estimate of $32.73 billion. During the same period in the prior year, the company posted $1.18 earnings per share. Verizon Communications’s revenue was up 10.9% compared to the same quarter last year.
Shares of VZ traded down $0.16 during mid-day trading on Thursday, reaching $55.79. The company had a trading volume of 196,555 shares, compared to its average volume of 14,047,290. The business’s 50 day moving average price is $56.63. Verizon Communications has a 1-year low of $53.83 and a 1-year high of $61.95. The company has a quick ratio of 0.99, a current ratio of 1.02 and a debt-to-equity ratio of 2.06. The company has a market cap of $230.97 billion, a P/E ratio of 12.23, a price-to-earnings-growth ratio of 3.52 and a beta of 0.48.
The business also recently declared a quarterly dividend, which will be paid on Monday, August 2nd. Stockholders of record on Friday, July 9th will be paid a $0.627 dividend. The ex-dividend date is Thursday, July 8th. This represents a $2.51 dividend on an annualized basis and a dividend yield of 4.50%. Verizon Communications’s payout ratio is currently 51.22%.
In related news, CEO Tami A. Erwin sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, May 3rd. The shares were sold at an average price of $58.26, for a total value of $2,039,100.00. Following the completion of the transaction, the chief executive officer now owns 23,647 shares in the company, valued at approximately $1,377,674.22. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Kumara Guru Gowrappan sold 43,238 shares of the firm’s stock in a transaction that occurred on Monday, May 10th. The shares were sold at an average price of $59.42, for a total transaction of $2,569,201.96. Following the completion of the transaction, the chief executive officer now owns 14,077 shares of the company’s stock, valued at approximately $836,455.34. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 82,903 shares of company stock worth $4,874,720. 0.10% of the stock is currently owned by corporate insiders.
About Verizon Communications
Verizon Communications, Inc is a holding company, which engages in the provision of communications, information, and entertainment products and services to consumers, businesses, and governmental agencies. It operates through the Verizon Consumer Group (Consumer) and Verizon Business Group (Business) segments.
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