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Verizon Communications (VZ) Gains As Market Dips: What You Should Know
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Verizon Communications (VZ - Free Report) closed at $31.98 in the latest trading session, marking a +0.69% move from the prior day. This change outpaced the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 8.89% over the past month. This has lagged the Computer and Technology sector's loss of 4.68% and the S&P 500's loss of 4.93% in that time.
Verizon Communications will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2023. In that report, analysts expect Verizon Communications to post earnings of $1.19 per share. This would mark a year-over-year decline of 9.85%. Meanwhile, our latest consensus estimate is calling for revenue of $33.51 billion, down 2.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.72 per share and revenue of $133.56 billion. These totals would mark changes of -8.88% and -2.39%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Verizon Communications has a Forward P/E ratio of 6.73 right now. This valuation marks a discount compared to its industry's average Forward P/E of 10.43.
Meanwhile, VZ's PEG ratio is currently 1.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless National was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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
Verizon Communications (VZ - Free Report) closed at $31.98 in the latest trading session, marking a +0.69% move from the prior day. This change outpaced the S&P 500's 1.37% loss on the day. Meanwhile, the Dow lost 1.29%, and the Nasdaq, a tech-heavy index, lost 1.87%.
Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 8.89% over the past month. This has lagged the Computer and Technology sector's loss of 4.68% and the S&P 500's loss of 4.93% in that time.
Verizon Communications will be looking to display strength as it nears its next earnings release, which is expected to be October 24, 2023. In that report, analysts expect Verizon Communications to post earnings of $1.19 per share. This would mark a year-over-year decline of 9.85%. Meanwhile, our latest consensus estimate is calling for revenue of $33.51 billion, down 2.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.72 per share and revenue of $133.56 billion. These totals would mark changes of -8.88% and -2.39%, respectively, from last year.
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 a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
Valuation is also important, so investors should note that Verizon Communications has a Forward P/E ratio of 6.73 right now. This valuation marks a discount compared to its industry's average Forward P/E of 10.43.
Meanwhile, VZ's PEG ratio is currently 1.92. This popular metric is similar to the widely-known P/E ratio, with the difference being that the PEG ratio also takes into account the company's expected earnings growth rate. The Wireless National was holding an average PEG ratio of 1.8 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 208, putting it in the bottom 18% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.