Verizon Communications (VZ) to Release Earnings on Friday

Verizon Communications (NYSE:VZ - Get Free Report) is expected to post its quarterly earnings results 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 register for the company's earnings conference call can do so using this link.

Verizon Communications (NYSE:VZ - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, topping analysts' consensus estimates of $1.18 by $0.01. The business had revenue of $33.30 billion for the quarter, compared to analysts' expectations of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The business's quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the firm earned $1.22 EPS. 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 1.4 %

Shares of Verizon Communications stock traded up $0.52 on Friday, hitting $38.86. The stock had a trading volume of 19,133,284 shares, compared to its average volume of 22,840,367. The company has a quick ratio of 0.62, a current ratio of 0.66 and a debt-to-equity ratio of 1.32. Verizon Communications has a one year low of $37.58 and a one year high of $45.36. The stock's 50-day simple moving average is $41.06 and its two-hundred day simple moving average is $41.71. The stock has a market cap of $163.58 billion, a price-to-earnings ratio of 16.75, a PEG ratio of 3.17 and a beta of 0.46.

Verizon Communications Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Friday, January 10th will be given a dividend of $0.6775 per share. The ex-dividend date of this dividend is Friday, January 10th. This represents a $2.71 annualized dividend and a yield of 6.97%. Verizon Communications's payout ratio is currently 116.81%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Bank of America upped their price objective on shares of Verizon Communications from $41.00 to $45.00 and gave the company a "neutral" rating in a research note on Thursday, September 26th. Citigroup upped their price target on Verizon Communications from $47.00 to $49.00 and gave the company a "buy" rating in a research report on Wednesday, September 25th. KeyCorp cut Verizon Communications from an "overweight" rating to a "sector weight" rating in a report on Thursday, October 24th. TD Cowen raised Verizon Communications to a "strong-buy" rating in a research note on Wednesday. Finally, UBS Group raised their price target on Verizon Communications from $44.00 to $45.00 and gave the stock a "neutral" rating in a research note on Friday, December 20th. Ten analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Verizon Communications presently has an average rating of "Moderate Buy" and a consensus price target of $46.54.

Verizon Communications Company Profile

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).