Verizon Communications (NYSE:VZ – Get Free Report) posted its quarterly earnings results on Monday. The cell phone carrier reported $1.15 EPS for the quarter, meeting the consensus estimate of $1.15, RTT News reports. The company had revenue of $32.80 billion for the quarter, compared to analyst estimates of $33.05 billion. Verizon Communications had a net margin of 8.38% and a return on equity of 20.10%. The firm’s revenue was up .6% on a year-over-year basis. During the same period in the prior year, the company earned $1.21 earnings per share. 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 Down 0.4 %
Shares of Verizon Communications stock opened at $39.51 on Thursday. The company has a debt-to-equity ratio of 1.29, a current ratio of 0.63 and a quick ratio of 0.67. The stock’s 50 day simple moving average is $40.58 and its 200-day simple moving average is $40.43. The stock has a market cap of $166.31 billion, a P/E ratio of 14.80, a P/E/G ratio of 3.54 and a beta of 0.41. Verizon Communications has a 1-year low of $30.14 and a 1-year high of $43.42.
Verizon Communications Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 10th will be issued a $0.665 dividend. The ex-dividend date of this dividend is Wednesday, July 10th. This represents a $2.66 dividend on an annualized basis and a yield of 6.73%. Verizon Communications’s payout ratio is 99.25%.
Analysts Set New Price Targets
Check Out Our Latest Report on Verizon Communications
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).
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