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Verizon Communications (VZ) Outperforms Broader Market: What You Need to Know
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Verizon Communications (VZ - Free Report) closed the most recent trading day at $37.49, moving +0.48% from the previous trading session. This change outpaced the S&P 500's 0.04% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Shares of the largest U.S. cellphone carrier have depreciated by 1.19% over the course of the past month, underperforming the Computer and Technology sector's gain of 4.9% and the S&P 500's gain of 5.28%.
Market participants will be closely following the financial results of Verizon Communications in its upcoming release. The company plans to announce its earnings on January 23, 2024. The company is forecasted to report an EPS of $1.07, showcasing a 10.08% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $34.76 billion, indicating a 1.38% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.69 per share and a revenue of $133.61 billion, signifying shifts of -9.46% and -2.36%, respectively, from the last 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% lower. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Verizon Communications is currently trading at a Forward P/E ratio of 7.95. This indicates a discount in contrast to its industry's Forward P/E of 8.27.
It's also important to note that VZ currently trades at a PEG ratio of 2.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless National industry had an average PEG ratio of 2.16 as trading concluded yesterday.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.
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Verizon Communications (VZ) Outperforms Broader Market: What You Need to Know
Verizon Communications (VZ - Free Report) closed the most recent trading day at $37.49, moving +0.48% from the previous trading session. This change outpaced the S&P 500's 0.04% gain on the day. Elsewhere, the Dow gained 0.14%, while the tech-heavy Nasdaq lost 0.03%.
Shares of the largest U.S. cellphone carrier have depreciated by 1.19% over the course of the past month, underperforming the Computer and Technology sector's gain of 4.9% and the S&P 500's gain of 5.28%.
Market participants will be closely following the financial results of Verizon Communications in its upcoming release. The company plans to announce its earnings on January 23, 2024. The company is forecasted to report an EPS of $1.07, showcasing a 10.08% downward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $34.76 billion, indicating a 1.38% downward movement from the same quarter last year.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $4.69 per share and a revenue of $133.61 billion, signifying shifts of -9.46% and -2.36%, respectively, from the last 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.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Within the past 30 days, our consensus EPS projection has moved 0.21% lower. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
In terms of valuation, Verizon Communications is currently trading at a Forward P/E ratio of 7.95. This indicates a discount in contrast to its industry's Forward P/E of 8.27.
It's also important to note that VZ currently trades at a PEG ratio of 2.27. The PEG ratio is similar to the widely-used P/E ratio, but this metric also takes the company's expected earnings growth rate into account. The Wireless National industry had an average PEG ratio of 2.16 as trading concluded yesterday.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 87, placing it within the top 35% of over 250 industries.
The Zacks Industry Rank is ordered 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.
Keep in mind to rely on Zacks.com to watch all these stock-impacting metrics, and more, in the succeeding trading sessions.