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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 $36.11, marking a +1.69% move from the previous day. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 1.46% in the past month. In that same time, the Computer and Technology sector gained 7.46%, while the S&P 500 gained 5.01%.
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 $33.54 billion, down 0.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.69 per share and revenue of $135.09 billion, which would represent changes of -9.46% and -1.27%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 7.58. Its industry sports an average Forward P/E of 19, so we one might conclude that Verizon Communications is trading at a discount comparatively.
It is also worth noting that VZ currently has a PEG ratio of 2.05. 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. VZ's industry had an average PEG ratio of 1.21 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 172, which puts it in the bottom 32% 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.
You can find more information on all of these metrics, and much 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 $36.11, marking a +1.69% move from the previous day. This change outpaced the S&P 500's 0.45% loss on the day. Elsewhere, the Dow lost 0.04%, while the tech-heavy Nasdaq added 3.58%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 1.46% in the past month. In that same time, the Computer and Technology sector gained 7.46%, while the S&P 500 gained 5.01%.
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 $33.54 billion, down 0.74% from the prior-year quarter.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.69 per share and revenue of $135.09 billion, which would represent changes of -9.46% and -1.27%, respectively, from the prior year.
Investors should also note any 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.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Within the past 30 days, our consensus EPS projection has moved 0.02% higher. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 7.58. Its industry sports an average Forward P/E of 19, so we one might conclude that Verizon Communications is trading at a discount comparatively.
It is also worth noting that VZ currently has a PEG ratio of 2.05. 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. VZ's industry had an average PEG ratio of 1.21 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 172, which puts it in the bottom 32% 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.
You can find more information on all of these metrics, and much more, on Zacks.com.