Verizon Communications Matches Earnings Estimates in Recent Quarterly Results

On a recent Tuesday, Verizon Communications (NYSE:VZ) publicized its earnings for the quarter, aligning perfectly with the forecasted $1.08 per share anticipated by market analysts. According to reports from RTT News, the corporation prided itself on a net margin of 15.58% and a notable return on equity at 21.26%. Reported revenues reached $35.10 billion, surpassing the predicted consensus of $34.60 billion, marking a slight 0.6% decrease in revenue from the same time the previous year. Concurrently, Verizon Communications provided future EPS guidance for FY24, estimating it between $4.50 and $4.70.

Dividends and Stock Performance

Verizon's stock value took an upbeat turn, opening at $39.58 that Tuesday. The company, which experienced a 52-week low of $30.14 and a high at $42.00, currently has a market cap of $166.40 billion and a PE ratio at 7.98. It also has a dividend payout ratio at 53.63%, with a recently declared quarterly dividend of $0.665 per share, due on February 1st to shareholders on record as of January 10th. The stock's 50-day and 200-day simple moving averages stand at $37.97 and $35.07, respectively.

Insider Trades and Institutional Investments

In related news, EVP Craig L. Silliman engaged in insider trading, selling company shares and generating substantial sums, all disclosed in filings with the SEC. Furthermore, hedge funds and investment advisors have adjusted their stakes in Verizon, with significant purchases noted by Moneta Group Investment Advisors LLC, Norges Bank, and Morgan Stanley, among others. Institutional investors are claimed to own 61.06% of Verizon's available stock.

Verizon's Analyst Perspectives

Several analysts have weighed in on Verizon's stock, with ratings varying from hold to buy, and price targets fluctuating as market conditions change. The consensus among many remains that Verizon is a strong performer with the potential for growth.

About Verizon Communications

Verizon Communications Inc provides a vast array of communications and technology services globally, operating through its Consumer and Business segments, aiming to meet the needs of its diverse customer base.

Investor Relations

Verizon upholds its commitment to shareholder transparency by offering consistent and detailed reports on its financial health and prospects, fostering confidence and clarity among its investors.

Verizon, Earnings, Dividend