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Verizon Communications (VZ) Dips More Than Broader Markets: What You Should Know
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Verizon Communications (VZ - Free Report) closed at $33.64 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 5.19% over the past month, lagging the Computer and Technology sector's gain of 3.15% and the S&P 500's gain of 3.58% 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.39 billion, down 1.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.69 per share and revenue of $134.85 billion, which would represent changes of -9.46% and -1.45%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Verizon Communications's current valuation metrics, including its Forward P/E ratio of 7.25. Its industry sports an average Forward P/E of 19.65, so we one might conclude that Verizon Communications is trading at a discount comparatively.
We can also see that VZ currently has a PEG ratio of 2.07. 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 industry currently had an average PEG ratio of 1.56 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 40, which puts it in the top 16% 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) Dips More Than Broader Markets: What You Should Know
Verizon Communications (VZ - Free Report) closed at $33.64 in the latest trading session, marking a -0.97% move from the prior day. This change lagged the S&P 500's daily loss of 0.68%. At the same time, the Dow added 0.47%, and the tech-heavy Nasdaq lost 3.19%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 5.19% over the past month, lagging the Computer and Technology sector's gain of 3.15% and the S&P 500's gain of 3.58% 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%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.39 billion, down 1.18% from the year-ago period.
For the full year, our Zacks Consensus Estimates are projecting earnings of $4.69 per share and revenue of $134.85 billion, which would represent changes of -9.46% and -1.45%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. To benefit from this, we have developed the Zacks Rank, a proprietary model which takes these estimate changes into account and provides an 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. The Zacks Consensus EPS estimate has moved 0.02% higher within the past month. Verizon Communications is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note Verizon Communications's current valuation metrics, including its Forward P/E ratio of 7.25. Its industry sports an average Forward P/E of 19.65, so we one might conclude that Verizon Communications is trading at a discount comparatively.
We can also see that VZ currently has a PEG ratio of 2.07. 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 industry currently had an average PEG ratio of 1.56 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 40, which puts it in the top 16% 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.