What is Zacks Research’s Forecast for VZ FY2024 Earnings?

Verizon Communications Inc. (NYSE:VZ) – Research analysts at Zacks Research lifted their FY2024 EPS estimates for shares of Verizon Communications in a note issued to investors on Tuesday, November 12th. Zacks Research analyst R. Department now anticipates that the cell phone carrier will earn $4.59 per share for the year, up from their previous forecast of $4.56. The consensus estimate for Verizon Communications’ current full-year earnings is $4.61 per share. Zacks Research also issued estimates for Verizon Communications’ Q2 2025 earnings at $1.18 EPS, Q3 2025 earnings at $1.19 EPS, Q4 2025 earnings at $1.22 EPS, FY2025 earnings at $4.72 EPS, Q1 2026 earnings at $1.22 EPS, Q2 2026 earnings at $1.17 EPS, Q3 2026 earnings at $1.15 EPS and FY2026 earnings at $4.77 EPS.

Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, October 22nd. The cell phone carrier reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.18 by $0.01. The company had revenue of $33.30 billion during the quarter, compared to the consensus estimate of $33.42 billion. Verizon Communications had a return on equity of 20.05% and a net margin of 7.30%. The firm’s revenue for the quarter was up .9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.22 earnings per share.

Several other analysts have also commented on VZ. KeyCorp lowered shares of Verizon Communications from an “overweight” rating to a “sector weight” rating in a report on Thursday, October 24th. TD Cowen raised their target price on Verizon Communications from $48.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Tigress Financial raised their price objective on Verizon Communications from $52.00 to $55.00 and gave the company a “buy” rating in a research report on Tuesday, October 1st. JPMorgan Chase & Co. reduced their target price on shares of Verizon Communications from $46.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 23rd. Finally, Royal Bank of Canada lifted their price target on shares of Verizon Communications from $42.00 to $46.00 and gave the company a “sector perform” rating in a research report on Monday, September 23rd. Nine investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $46.37.

Verizon Communications Trading Up 1.8 %

NYSE:VZ opened at $41.15 on Thursday. Verizon Communications has a 12 month low of $35.81 and a 12 month high of $45.36. The company has a current ratio of 0.66, a quick ratio of 0.62 and a debt-to-equity ratio of 1.32. The company has a 50-day moving average price of $43.03 and a 200-day moving average price of $41.41. The stock has a market cap of $173.21 billion, a price-to-earnings ratio of 17.73, a P/E/G ratio of 2.94 and a beta of 0.43.

Verizon Communications Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Thursday, October 10th were paid a $0.678 dividend. This is an increase from Verizon Communications’s previous quarterly dividend of $0.67. This represents a $2.71 dividend on an annualized basis and a dividend yield of 6.59%. The ex-dividend date of this dividend was Thursday, October 10th. Verizon Communications’s dividend payout ratio (DPR) is 116.81%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of VZ. Gateway Investment Advisers LLC raised its holdings in Verizon Communications by 15.4% in the 2nd quarter. Gateway Investment Advisers LLC now owns 283,160 shares of the cell phone carrier’s stock worth $11,678,000 after purchasing an additional 37,732 shares during the period. Cyndeo Wealth Partners LLC increased its position in Verizon Communications by 9.7% in the third quarter. Cyndeo Wealth Partners LLC now owns 202,521 shares of the cell phone carrier’s stock worth $9,095,000 after buying an additional 17,855 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Verizon Communications by 2.9% in the third quarter. Janney Montgomery Scott LLC now owns 2,058,443 shares of the cell phone carrier’s stock worth $92,445,000 after buying an additional 57,583 shares during the period. Principal Financial Group Inc. grew its stake in shares of Verizon Communications by 2.7% during the 3rd quarter. Principal Financial Group Inc. now owns 4,954,357 shares of the cell phone carrier’s stock valued at $222,500,000 after acquiring an additional 129,171 shares during the period. Finally, Harvest Portfolios Group Inc. increased its holdings in Verizon Communications by 3.3% in the 3rd quarter. Harvest Portfolios Group Inc. now owns 579,713 shares of the cell phone carrier’s stock worth $26,035,000 after acquiring an additional 18,346 shares in the last quarter. 62.06% of the stock is owned by hedge funds and other institutional investors.

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).