Verizon (NYSE: VZ) announced its earnings results on Tuesday. The company reported $0.38 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by $0.14. The company had revenue of $30.05 billion for the quarter, compared to the consensus estimate of $29.75 billion. During the same quarter in 2012, the company posted $0.52 earnings per share. The company?s revenue for the quarter was up 5.7% on a year-over-year basis.
VZ has been the subject of a number of recent research reports. Analysts at Scotia Capital reiterated a ?sector outperform? rating on shares of Verizon in a research note to investors on Monday. They now have a $50.00 price target on the stock. On the ratings front, analysts at Zacks reiterated a ?neutral? rating on shares of Verizon in a research note to investors on Thursday, January 17th. They now have a $44.00 price target on the stock. Finally, analysts at UBS AG downgraded shares of Verizon from a ?buy? rating to a ?neutral? rating in a research note to investors on Monday, January 14th. They now have a $44.00 price target on the stock, down previously from $48.00.
Shares of Verizon (VZ) opened at 42.61 on Tuesday. Verizon (VZ) has a 52 week low of $36.80 and a 52 week high of $48.77. The stock?s 50-day moving average is currently $43.61. The company has a market cap of $121.6 billion and a P/E ratio of 39.32.
Verizon Communications Inc. (Verizon) is a holding company. The Company is a provider of communications, information and entertainment products and services to consumers, businesses and governmental agencies.