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Verizon Communications (VZ) Dips More Than Broader Markets: What You Should Know
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In the latest trading session, Verizon Communications (VZ - Free Report) closed at $35.81, marking a -1.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.47%. At the same time, the Dow lost 0.72%, and the tech-heavy Nasdaq lost 5.08%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 1.39% in the past month. In that same time, the Computer and Technology sector gained 8.33%, while the S&P 500 gained 5.36%.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, Verizon Communications is projected to report earnings of $1.17 per share, which would represent a year-over-year decline of 10.69%. Meanwhile, our latest consensus estimate is calling for revenue of $33.53 billion, down 0.75% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.68 per share and revenue of $135.08 billion, which would represent changes of -9.65% and -1.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant within the past month. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.78. This represents a discount compared to its industry's average Forward P/E of 18.74.
Investors should also note that VZ has a PEG ratio of 2.1 right now. 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 1.27 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Verizon Communications (VZ) Dips More Than Broader Markets: What You Should Know
In the latest trading session, Verizon Communications (VZ - Free Report) closed at $35.81, marking a -1.78% move from the previous day. This move lagged the S&P 500's daily loss of 0.47%. At the same time, the Dow lost 0.72%, and the tech-heavy Nasdaq lost 5.08%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 1.39% in the past month. In that same time, the Computer and Technology sector gained 8.33%, while the S&P 500 gained 5.36%.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be July 25, 2023. On that day, Verizon Communications is projected to report earnings of $1.17 per share, which would represent a year-over-year decline of 10.69%. Meanwhile, our latest consensus estimate is calling for revenue of $33.53 billion, down 0.75% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.68 per share and revenue of $135.08 billion, which would represent changes of -9.65% and -1.28%, respectively, from the prior year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. 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 remained stagnant within the past month. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.78. This represents a discount compared to its industry's average Forward P/E of 18.74.
Investors should also note that VZ has a PEG ratio of 2.1 right now. 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 1.27 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 172, which puts it in the bottom 32% 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.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.