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Suddenly, Amazon Doesn't Love Its Moms AnymoreThe earnings season crunch continues next week, and among companies reporting are Verizon Communications Inc. (NYSE: VZ) and Viacom Inc. (NYSE: VIA).
When it reported second quarter results back in July, Verizon's earnings were 58 cents per share, in line with Wall Street estimates, but six cents less than in the same period of the previous year. It was the first time since the second quarter of 2005 that Verizon failed to beat expectations. For the current quarter, analysts surveyed by Thomson Financial are expecting 62 cents per share, which is six cents less than a year ago.
The consensus recommendation on Verizon has shifted from buy to hold, though 12 of 31 analysts still consider it a buy or strong buy. Verizon's share price has climbed this past quarter to a five-year high of $46.24 recently, but closed Friday at $45.60.
For more on the Vonage (NYSE: VG) settlement and other telco news that could influence Verizon's results, check out BloggingStocks' Verizon coverage.
Viacom has beat Wall Street expectations in the past four quarters. In its second quarter report back in July, Viacom beat analysts' earnings per share expectations by a three cents, coming in at 54 cents. Analysts surveyed by Thomson Financial expect earnings of 44 cents per share this quarter, up from 42 cents in the same period last year, and $1.83 for the full year.
The consensus recommendation from the analysts is to buy Viacom, and has been for at least six months. Viacom's share price slipped to a 52-week low of $36.00 in early August, and slid again recently to close Friday at $39.39.
For more on Transformers, Jon Stewart, analysts upgrades, and other news that might influence Viacom's results, see BloggingStocks' Viacom coverage.
Verizon reports earnings on Monday; Viacom reports on Friday.
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