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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 $40.06, marking a +0.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the largest U.S. cellphone carrier had gained 5.8% over the past month, outpacing the Computer and Technology sector's gain of 2.92% and the S&P 500's gain of 2.18% in that time.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be January 24, 2023. In that report, analysts expect Verizon Communications to post earnings of $1.21 per share. This would mark a year-over-year decline of 7.63%. Our most recent consensus estimate is calling for quarterly revenue of $35.06 billion, up 2.91% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.44% lower. Verizon Communications is currently a Zacks Rank #3 (Hold).
In terms of valuation, Verizon Communications is currently trading at a Forward P/E ratio of 7.96. This represents a discount compared to its industry's average Forward P/E of 26.06.
Meanwhile, VZ's PEG ratio is currently 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VZ's industry had an average PEG ratio of 1.14 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 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on 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 $40.06, marking a +0.23% move from the previous day. This move outpaced the S&P 500's daily loss of 0.76%. Meanwhile, the Dow lost 0.76%, and the Nasdaq, a tech-heavy index, lost 10.92%.
Heading into today, shares of the largest U.S. cellphone carrier had gained 5.8% over the past month, outpacing the Computer and Technology sector's gain of 2.92% and the S&P 500's gain of 2.18% in that time.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be January 24, 2023. In that report, analysts expect Verizon Communications to post earnings of $1.21 per share. This would mark a year-over-year decline of 7.63%. Our most recent consensus estimate is calling for quarterly revenue of $35.06 billion, up 2.91% from the year-ago period.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.44% lower. Verizon Communications is currently a Zacks Rank #3 (Hold).
In terms of valuation, Verizon Communications is currently trading at a Forward P/E ratio of 7.96. This represents a discount compared to its industry's average Forward P/E of 26.06.
Meanwhile, VZ's PEG ratio is currently 1.92. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. VZ's industry had an average PEG ratio of 1.14 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 156, which puts it in the bottom 39% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.