Verizon Communications (NYSE:VZ) Posts Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Verizon Communications (NYSE:VZ) posted its quarterly earnings data on Tuesday. The cell phone carrier reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.15 by $0.04, Zacks reports. Verizon Communications had a return on equity of 19.80% and a net margin of 12.99%.

Verizon Communications Stock Performance

Shares of NYSE:VZ opened at $42.97 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.63 and a quick ratio of 0.59. Verizon Communications has a 1 year low of $37.59 and a 1 year high of $47.36. The stock has a market capitalization of $180.89 billion, a price-to-earnings ratio of 10.38, a price-to-earnings-growth ratio of 4.45 and a beta of 0.41. The company’s 50 day simple moving average is $43.51 and its 200 day simple moving average is $41.99.

Verizon Communications Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 10th will be given a dividend of $0.6775 per share. This represents a $2.71 dividend on an annualized basis and a yield of 6.31%. The ex-dividend date is Thursday, April 10th. Verizon Communications’s dividend payout ratio is 65.46%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. StockNews.com cut Verizon Communications from a “strong-buy” rating to a “buy” rating in a research report on Thursday, March 13th. Argus raised Verizon Communications to a “strong-buy” rating in a report on Monday, January 27th. Deutsche Bank Aktiengesellschaft raised their price target on Verizon Communications from $40.00 to $42.00 and gave the stock a “hold” rating in a research report on Friday, January 24th. Scotiabank upped their target price on Verizon Communications from $48.00 to $48.50 and gave the company a “sector perform” rating in a research note on Tuesday, April 8th. Finally, TD Cowen upgraded Verizon Communications to a “strong-buy” rating in a report on Wednesday, January 15th. Ten analysts have rated the stock with a hold rating, eight have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $46.92.

Insiders Place Their Bets

In related news, EVP Vandana Venkatesh sold 10,000 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $43.79, for a total value of $437,900.00. Following the transaction, the executive vice president now owns 14,459 shares of the company’s stock, valued at approximately $633,159.61. This trade represents a 40.88 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kyle Malady sold 20,000 shares of the stock in a transaction that occurred on Monday, January 27th. The shares were sold at an average price of $40.54, for a total value of $810,800.00. Following the sale, the chief executive officer now directly owns 45,675 shares of the company’s stock, valued at $1,851,664.50. The trade was a 30.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 49,085 shares of company stock valued at $2,020,895. 0.02% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Verizon Communications

A hedge fund recently raised its stake in Verizon Communications stock. Brighton Jones LLC raised its holdings in shares of Verizon Communications Inc. (NYSE:VZ) by 61.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,986 shares of the cell phone carrier’s stock after purchasing an additional 16,704 shares during the period. Brighton Jones LLC’s holdings in Verizon Communications were worth $1,759,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 62.06% of the company’s stock.

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).