Published: Fri, April 21, 2017
Economy | By Annette Adams

Verizon (VZ) Misses Earnings and Revenue Estimate in Q1

During the trading on 04/17/2017, Company's stock ranged from $33.98 to $33.37. E&G Advsr Lp reported 0.96% in Verizon Communications Inc. Of the 307,000 postpaid customers that left the carrier during the three month period, 289,000 were phone-related customers which is the holy grail of the industry. Citigroup Inc raised shares of Verizon Communications from a "neutral" rating to a "buy" rating and increased their target price for the stock from $52.25 to $53.38 in a report on Tuesday, January 3rd. Verizon is also lagging key rival AT&T - although Ma Bell's shares are down 5 percent in 2017. $543,385 worth of Verizon Communications Inc. The stock decreased 0.61% or $0.3 on April 13, reaching $48.62. Ruggie Capital Group boosted its position in shares of Verizon Communications by 0.3% in the third quarter. Company insiders own 0.10% of the company's stock.

In terms of guidance, Verizon expects full-year 2017 revenue to be comparable with 2016, and believes that wireless service revenue and equipment revenue trends will improve. The company has a market cap of $198.99 billion, a price-to-earnings ratio of 15.21 and a beta of 0.43.

The stock volatility for week was 1.14% while for month was 1.08%.The stock, as of last close, traded 9.41% to its 52 week low and was changed -9.70% from its 52 week high. (NYSE:VZ) will announce earnings per share of $0.98 for the current quarter, according to Zacks Investment Research.

Revenue fell 7 percent to $29.81 billion, missing analyst expectations of $30.5 billion, according to Zacks. Before that point, Verizon had lost an astonishing 398,000 subscribers through only the first half of the quarter.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 1st.

The 4.74% yield which is high for a telecom stock. The ex-dividend date of this dividend is Thursday, April 6th. Verizon Communications's payout ratio is now 71.74%.

ILLEGAL ACTIVITY NOTICE: This report was originally posted by Markets Daily and is the sole property of of Markets Daily. If you are reading this piece on another website, it was stolen and reposted in violation of US & worldwide copyright and trademark law. The legal version of this report can be accessed at [[permalink]]. News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verizon Communications Inc. with's FREE daily email newsletter. (NYSE:VZ). Pioneer Invest Mngmt reported 0.62% of its portfolio in Verizon Communications Inc. Needham & Company LLC reiterated a "hold" rating on shares of Verizon Communications in a report on Monday, January 23rd.

02/13/2017 - Verizon Communications Inc. had its "market perform" rating reiterated by analysts at Wells Fargo. (VZ) where 3 analyst have rated the stock as Strong Buy, 5 analysts said it's a Buy, 21 rated the stock as Hold, 1 analysts reported Underperform and 0 analysts gave their recommendations as Sell. Vetr upgraded Verizon Communications from a "hold" rating to a "buy" rating and set a $52.98 price objective on the stock in a research note on Tuesday, January 24th.

In related news, EVP Craig L. Silliman sold 610 shares of the company's stock in a transaction on Monday, March 27th. Earnings per share serves as an indicator of a company's profitability. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The stock was sold at an average price of $48.27, for a total value of $603,133.65. Following the completion of the sale, the executive vice president now directly owns 10,259 shares in the company, valued at $509,461.94. The disclosure for this sale can be found here. Six equity analysts rating the company a strong buy, six equity analysts rating the company a buy, twenty-two equity analysts rating the company a hold, one equity analyst rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $51.93.

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