We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
Verizon Communications (VZ) Stock Sinks As Market Gains: What You Should Know
Read MoreHide Full Article
Verizon Communications (VZ - Free Report) closed at $34.99 in the latest trading session, marking a -0.43% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 9.29%.
Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 1.32% over the past month. This has lagged the Computer and Technology sector's gain of 1.84% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Verizon Communications as it approaches its next earnings release, which 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%. Our most recent consensus estimate is calling for quarterly revenue of $33.53 billion, down 0.77% from the year-ago period.
VZ's full-year Zacks Consensus Estimates are calling for earnings of $4.69 per share and revenue of $135.08 billion. These results would represent year-over-year changes of -9.46% and -1.28%, respectively.
Investors should also note any recent changes to analyst estimates for Verizon Communications. 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. 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 0.06% higher within the past month. 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 7.5. This valuation marks a discount compared to its industry's average Forward P/E of 19.76.
We can also see that VZ currently has a PEG ratio of 2.03. 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. The Wireless National was holding an average PEG ratio of 1.21 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 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
Verizon Communications (VZ) Stock Sinks As Market Gains: What You Should Know
Verizon Communications (VZ - Free Report) closed at $34.99 in the latest trading session, marking a -0.43% move from the prior day. This move lagged the S&P 500's daily gain of 0.67%. At the same time, the Dow added 0.93%, and the tech-heavy Nasdaq gained 9.29%.
Prior to today's trading, shares of the largest U.S. cellphone carrier had lost 1.32% over the past month. This has lagged the Computer and Technology sector's gain of 1.84% and the S&P 500's gain of 2.65% in that time.
Investors will be hoping for strength from Verizon Communications as it approaches its next earnings release, which 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%. Our most recent consensus estimate is calling for quarterly revenue of $33.53 billion, down 0.77% from the year-ago period.
VZ's full-year Zacks Consensus Estimates are calling for earnings of $4.69 per share and revenue of $135.08 billion. These results would represent year-over-year changes of -9.46% and -1.28%, respectively.
Investors should also note any recent changes to analyst estimates for Verizon Communications. 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. 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 0.06% higher within the past month. 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 7.5. This valuation marks a discount compared to its industry's average Forward P/E of 19.76.
We can also see that VZ currently has a PEG ratio of 2.03. 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. The Wireless National was holding an average PEG ratio of 1.21 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 106, putting it in the top 43% of all 250+ industries.
The Zacks Industry Rank includes is listed in order from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.