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%.

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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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