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Verizon Communications (VZ) Gains As Market Dips: What You Should Know
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In the latest trading session, Verizon Communications (VZ - Free Report) closed at $40.12, marking a +1.83% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 6.29% in the past month. In that same time, the Computer and Technology sector lost 8.46%, while the S&P 500 lost 5.57%.
Investors will be hoping for strength from Verizon Communications as it approaches its next earnings release, which is expected to be January 24, 2023. The company is expected to report EPS of $1.21, down 7.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $35.15 billion, up 3.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.01% lower within the past month. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.6. This valuation marks a discount compared to its industry's average Forward P/E of 37.65.
Investors should also note that VZ has a PEG ratio of 1.83 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. VZ's industry had an average PEG ratio of 2.1 as of yesterday's close.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.
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Verizon Communications (VZ) Gains As Market Dips: What You Should Know
In the latest trading session, Verizon Communications (VZ - Free Report) closed at $40.12, marking a +1.83% move from the previous day. The stock outpaced the S&P 500's daily loss of 0.4%. Meanwhile, the Dow lost 0.03%, and the Nasdaq, a tech-heavy index, lost 4.72%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 6.29% in the past month. In that same time, the Computer and Technology sector lost 8.46%, while the S&P 500 lost 5.57%.
Investors will be hoping for strength from Verizon Communications as it approaches its next earnings release, which is expected to be January 24, 2023. The company is expected to report EPS of $1.21, down 7.63% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $35.15 billion, up 3.18% from the prior-year quarter.
It is also important to note the recent changes to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 1.01% lower within the past month. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.6. This valuation marks a discount compared to its industry's average Forward P/E of 37.65.
Investors should also note that VZ has a PEG ratio of 1.83 right now. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. VZ's industry had an average PEG ratio of 2.1 as of yesterday's close.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 203, which puts it in the bottom 20% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.