Verizon reports 20 percent fall in quarterly profit

Verizon reports 20 percent fall in quarterly profit

Verizon Communications (NYSE:VZ) last released its quarterly earnings results on Tuesday, January 24th.

VZ has a 1-year high price of $ 54.51 and 1-year low price of $44.99. Compared to the same quarter past year, the company reported earnings per share of $1.06. The company is scheduled to report its next earnings report before the market opens on Thursday, April 20th. Excluding certain items, Verizon earned 95 cents a share. Verizon's unlimited data plans have heated up the wireless industry. Lowe fs LLC now owns 2,426 shares of the cell phone carrier's stock worth $126,000 after buying an additional 70 shares during the last quarter.

There has also been speculation that Verizon could be interested in buying cable company Charter.

Verizon's revenues were down 7.3% year-over-year to $29.8 billion.

At the end of the first quarter of 2017, Verizon had 113.913 million retail subscribers, up 1.2% year over year.

The company is expected to report earnings of $0.97 a share for the next quarter. (NYSE:VZ) earned "Hold" rating by Zacks on Friday, August 14.

NYSE:VZ) was up +0.84% ($0.41) to $49.22 and showed a volume of 19.66 mln shares. Finally, Tortoise Investment Management LLC raised its position in shares of Verizon Communications by 35.3% in the fourth quarter. The stock has a consensus rating of "Hold" and a consensus price target of $54.23.

03/06/2017 - Verizon Communications Inc. had its "neutral" rating reiterated by analysts at BTIG Research. Morgan Stanley reaffirmed an overweight rating and issued a $60.00 price target on shares of Verizon Communications in a report on Sunday, October 23rd. On Monday, April 18 the stock rating was maintained by Barclays Capital with "Equal-Weight".

COPYRIGHT VIOLATION WARNING: This piece was published by BBNS and is the sole property of of BBNS. If you are accessing this news story on another site, it was copied illegally and reposted in violation of United States and worldwide copyright and trademark law. Verizon Communications Inc. had 34 analyst reports since July 22, 2015 according to SRatingsIntel. The stock as of last trading session moved 8.50% up from its 52 week low and was -10.45% behind its 52 week high.

The companies 50 day moving average is 49.48 and its 200 day moving average is 50.07. The firm has a market cap of $200.66 billion, a price-to-earnings ratio of 15.33 and a beta of 0.43.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st. Investors of record on Tuesday, January 10th were given a $0.5775 dividend. This represents a $2.31 dividend on an annualized basis and a dividend yield of 4.75%. Verizon Communications's payout ratio is 71.74%. WALDEN MARNI M sold $1.61 million worth of stock or 32,254 shares. Ashfield Partners Limited Company owns 42,896 shares for 0.22% of their portfolio.

2 analysts on average are expecting the company to report revenue of $0 for the current quarter. The shares were sold at an average price of $50.29, for a total transaction of $543,333.16. Hennessy Advisors Inc. now owns 207,500 shares of the cell phone carrier's stock worth $10,786,000 after buying an additional 9,300 shares in the last quarter. The disclosure for this sale can be found here.

ATR value of company was 0.53.

Institutional investors have recently made changes to their positions in the stock.

Since the start of the New Year, Verizon Communications Inc.

Shares dropped more than 2 percent in Thursday premarket trading. Asset Management One Co. Alpha Windward LLC now owns 4,974 shares of the cell phone carrier's stock worth $259,000 after buying an additional 21 shares in the last quarter. Finally, Price T Rowe Associates Inc. Ruggie Capital Group increased its stake in shares of Verizon Communications by 0.3% in the third quarter. Price T Rowe Associates Inc. That compares with 640,000 retail postpaid net additions in the year-ago period, including 8,000 phone losses.

Here we discussed Analysts views what they told about Verizon Communications Inc. The Company, through its subsidiaries, provides communications, information and entertainment services and products to consumers, businesses and governmental agencies. Its segments include Wireless and Wireline. This segment also provides data security, voice and data, cloud and IT, business communications, IoT, and mobility services; and data, voice, local dial tone, and broadband services primarily to local, long distance, wireless, and other carriers.

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