Published: Sat, October 21, 2017
Economy | By Shawn Conner

Verizon Revenue Tops Q3 Expectations; Shares Rise

Verizon Revenue Tops Q3 Expectations; Shares Rise

"This success is based on the strength of the Verizon network, and I share the pride of all Verizon employees that our network aided and served first-responders and customers when they needed it most following the recent natural disasters". Similar statistics are true for the second largest owner, Blackrock Inc., which owns 261,831,000 shares of the stock are valued at $12.74 billion. Curbstone Financial Management Corp grew its stake in shares of Verizon Communications by 100.4% in the third quarter.

Cabot Wealth Management Inc increased Verizon Communications Inc (VZ) stake by 20.92% reported in 2017Q2 SEC filing.

Cascade Investment Advisors Inc. cut its holdings in shares of Verizon Communications Inc. In the last 90 days, insiders have sold 1,830 shares of company stock valued at $88,828. (VZ) Ex-Dividend Date Scheduled for October 06, 2017" published on October 05, 2017 as well as's news article titled: "Earnings Reaction History: "Verizon Communications Inc., 71.4% Follow-Through ..." with publication date: "October 16, 2017.

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Verizon cited ongoing consumer shifts to over-the-top video options and away from traditional television as the reason for losing 18,000 Fios video customers in the quarter. Clearbridge Investments LLC now owns 7,651,193 shares of the cell phone carrier's stock worth $372,996,000 after acquiring an additional 133,038 shares during the last quarter. Bernstein downgraded Verizon Communications Inc. Beutel Goodman & Co Ltd. now owns 5,339,889 shares of the cell phone carrier's stock worth $183,686,000 after purchasing an additional 981,409 shares during the period. Royal Bank Of Canada reiterated a "hold" rating and issued a $48.00 target price on shares of Verizon Communications in a report on Sunday, July 9th. TheStreet raised Verizon Communications from a "c+" rating to a "b-" rating in a report on Tuesday, August 8th. Lumbard & Kellner Llc acquired 65,943 shares as Verizon Communications Inc (VZ)'s stock declined 7.66%.

Verizon Communications Inc., launched on October 7, 1983, is a holding company. Two analysts have rated the stock with a sell rating, twenty-one have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. The company presently has a consensus rating of "Hold" and a consensus target price of $52.86. On Tuesday, May 30 the insider SILLIMAN CRAIG L. sold $27,657. On Thursday, June 15 the stock rating was maintained by Macquarie Research with "Hold". The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. (NYSE:VZ) shares with value of $753,961 were sold by WALDEN MARNI M. The stock rose 0.22% or $0.11 reaching $49.33 per share.

TRADEMARK VIOLATION NOTICE: This report was posted by StockNewsTimes and is owned by of StockNewsTimes. If you are reading this article on another domain, it was copied illegally and reposted in violation of United States and global copyright & trademark laws. The original version of this article can be viewed at Lourd Cap Ltd has invested 0.04% in Verizon Communications Inc. (NYSE:VZ). 13,129 were accumulated by Oakworth Capital. Paradigm Asset Co Limited Liability Company has 1,950 shares. The 50 day moving average was down $-0.03 and the 200 day average moved up $0.15. The stock has a market capitalization of $201.11 billion, a P/E ratio of 12.67 and a beta of 0.56.

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Verizon said Thursday that adjusted fiscal third-quarter earnings were 98 cents a share, down 3% from a year ago, with revenue rising 2.5% to $31.7 billion. The cell phone carrier reported $0.98 earnings per share for the quarter, meeting the Thomson Reuters' consensus estimate of $0.98. The firm had revenue of $31.70 billion during the quarter, compared to analyst estimates of $31.45 billion.

AT&T Inc, its No. 2 competitor, plans to diversify its revenues with an $85.4-billion acquisition of Time Warner Inc, a deal that, if approved by regulators, would give it ownership of premium content like HBO. On average, equities analysts forecast that Verizon Communications Inc. will post $3.76 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 1st.

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Total Fios revenue grew 4.8% to $2.9 billion. The firm has "Neutral" rating given on Friday, October 16 by Nomura. Moreover, Amica Retiree Medical has 0.93% invested in Verizon Communications Inc. Verizon Communications's dividend payout ratio (DPR) is presently 60.51%. Verizon Communications Inc. had 53 analyst reports since July 22, 2015 according to SRatingsIntel. The Company provides these products and services to consumers in the United States, as well as to carriers, businesses and government customers both in the United States and around the world.

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