Verizon Communications (NYSE:VZ - Get Free Report) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $4.50-4.70 for the period, compared to the consensus estimate of $4.59.
NYSE:VZ opened at $43.72 on Tuesday. Verizon Communications has a twelve month low of $31.26 and a twelve month high of $45.36. The stock has a market cap of $184.01 billion, a P/E ratio of 16.31, a PEG ratio of 4.02 and a beta of 0.42. The company has a quick ratio of 0.60, a current ratio of 0.63 and a debt-to-equity ratio of 1.29. The business's 50-day moving average price is $43.00 and its two-hundred day moving average price is $41.28.
Verizon Communications (NYSE:VZ - Get Free Report) last posted its quarterly earnings results on Monday, July 22nd. The cell phone carrier reported $1.15 earnings per share for the quarter, hitting the consensus estimate of $1.15. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The business had revenue of $32.80 billion during the quarter, compared to the consensus estimate of $33.05 billion. During the same period in the previous year, the firm posted $1.21 earnings per share. The firm's revenue for the quarter was up .6% on a year-over-year basis. As a group, equities analysts predict that Verizon Communications will post 4.58 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Thursday, October 10th will be issued a $0.678 dividend. The ex-dividend date of this dividend is Thursday, October 10th. This represents a $2.71 annualized dividend and a yield of 6.20%. This is a boost from Verizon Communications's previous quarterly dividend of $0.67. Verizon Communications's dividend payout ratio (DPR) is 101.12%.
VZ has been the topic of a number of research reports. Raymond James boosted their target price on shares of Verizon Communications from $44.00 to $48.00 and gave the company an "outperform" rating in a report on Tuesday, September 24th. The Goldman Sachs Group started coverage on shares of Verizon Communications in a report on Monday, July 1st. They set a "buy" rating and a $50.00 price target on the stock. Bank of America increased their target price on Verizon Communications from $41.00 to $45.00 and gave the company a "neutral" rating in a report on Thursday, September 26th. Citigroup raised their target price on Verizon Communications from $47.00 to $49.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Finally, Royal Bank of Canada raised their target price on shares of Verizon Communications from $42.00 to $46.00 and gave the stock a "sector perform" rating in a research note on Monday, September 23rd. Eight analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $46.31.
Check Out Our Latest Report on 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).
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