Verizon Communications (NYSE:VZ – Get Free Report) issued its quarterly earnings data on Monday. The cell phone carrier reported $1.15 earnings per share for the quarter, meeting the consensus estimate of $1.15, RTT News reports. Verizon Communications had a return on equity of 20.10% and a net margin of 8.38%. The business had revenue of $32.80 billion for the quarter, compared to analysts’ expectations of $33.05 billion. During the same period last year, the business earned $1.21 EPS. The business’s revenue was up .6% on a year-over-year basis. Verizon Communications updated its FY24 guidance to $4.50-4.70 EPS and its FY 2024 guidance to 4.500-4.700 EPS.
Verizon Communications Trading Up 2.0 %
Shares of Verizon Communications stock traded up $0.79 during trading on Thursday, hitting $40.46. The stock had a trading volume of 1,686,940 shares, compared to its average volume of 18,834,002. The stock has a market cap of $170.31 billion, a PE ratio of 14.98, a PEG ratio of 3.54 and a beta of 0.41. Verizon Communications has a 12 month low of $30.14 and a 12 month high of $43.42. The firm’s fifty day simple moving average is $40.58 and its 200-day simple moving average is $40.43. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.67.
Verizon Communications Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be given a dividend of $0.665 per share. This represents a $2.66 dividend on an annualized basis and a yield of 6.57%. The ex-dividend date of this dividend is Wednesday, July 10th. Verizon Communications’s dividend payout ratio (DPR) is 99.25%.
Analyst Upgrades and Downgrades
Check Out Our Latest Report on VZ
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).
Further Reading
- Five stocks we like better than Verizon Communications
- 3 Warren Buffett Stocks to Buy Now
- Beauty Retailer Stock Brings Early Christmas for Value Investors
- Best of the list of Dividend Aristocrats: Build wealth with the aristocrat index
- Ford Stock EPS Disappoints, Shares Plummet After-Hours
- Investing in Construction Stocks
- How Much Should You Be Investing? Try Our Calculators
Receive News & Ratings for Verizon Communications Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications and related companies with MarketBeat.com's FREE daily email newsletter.