Verizon Communications, Inc. Third Quarter Earnings Sneak Peek

S&P 500 (NYSE:SPY) component Verizon Communications, Inc. (NYSE:VZ) will unveil its latest earnings on Friday, October 21, 2011. Verizon Communications provides communications services.

Verizon Communications, Inc. Earnings Preview Cheat Sheet

Wall St. Earnings Expectations: The average estimate of analysts is for profit of 57 cents per share, a rise of 1.8% from the company’s actual earnings for the same quarter a year ago. During the past three months, the average estimate has moved down from 58 cents. Between one and three months ago, the average estimate was unchanged. It has since dropped over the last month. Analysts are projecting profit to rise by 21.9% versus last year to $2.23.

Past Earnings Performance: The company is looking to beat analyst estimates for the third quarter in a row. Last quarter, it beat estimates with net income of 57 cents per share against the mean estimate of 55 cents. In the prior quarter, the company reported profit of 51 cents.

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Wall St. Revenue Expectations: Analysts are projecting a rise of 5.4% in revenue from the year-earlier quarter to $27.91 billion.

Analyst Ratings: Analysts seem relatively indifferent about Verizon Communications with 15 of 28 analysts surveyed maintaining a hold rating.

A Look Back: In the second quarter, the company swung to a profit of $1.61 billion (57 cents a share) from a loss of $198 million (7 cents) a year earlier, beating analyst estimates. Revenue rose 2.8% to $27.54 billion from $26.77 billion.

Key Stats:

The company’s revenue has risen for two straight quarters. In the first quarter, the figure rose 0.3%.

Competitors to Watch: AT&T Inc. (NYSE:T), Sprint Nextel Corporation (NYSE:S), Deutsche Telekom AG (DTEGY), MetroPCS Communications, Inc. (NYSE:PCS), Vodafone Group Plc (NASDAQ:VOD), CenturyLink, Inc. (NYSE:CTL), NTELOS Holdings Corp. (NASDAQ:NTLS), Leap Wireless Intl., Inc. (NASDAQ:LEAP), Windstream Corporation (NASDAQ:WIN), and United States Cellular Corp. (NYSE:USM).

Stock Price Performance: During August 19, 2011 to October 17, 2011, the stock price had risen $2.71 (7.9%) from $34.23 to $36.94. The stock price saw one of its best stretches over the last year between March 16, 2011 and March 31, 2011 when shares rose for 12-straight days, rising 12.3% (+$4.07) over that span. It saw one of its worst periods between July 8, 2011 and July 18, 2011 when shares fell for seven-straight days, falling 2.1% (-76 cents) over that span. Shares are up $3 (+8.8%) year to date.

(Source: Xignite Financials)

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