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Verizon Communications (VZ) Increases Despite Market Slip: Here's What You Need to Know
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Verizon Communications (VZ - Free Report) closed the most recent trading day at $39.29, moving +1.89% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.37% for the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 0.19%.
The largest U.S. cellphone carrier's shares have seen an increase of 2.36% over the last month, surpassing the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Verizon Communications in its upcoming release. The company is slated to reveal its earnings on January 23, 2024. It is anticipated that the company will report an EPS of $1.07, marking a 10.08% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $34.82 billion, indicating a 1.23% decrease compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Verizon Communications. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.5% decrease. Verizon Communications is currently a Zacks Rank #3 (Hold).
In terms of valuation, Verizon Communications is presently being traded at a Forward P/E ratio of 8.38. This denotes a discount relative to the industry's average Forward P/E of 16.95.
It's also important to note that VZ currently trades at a PEG ratio of 2.4. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 2.2.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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) Increases Despite Market Slip: Here's What You Need to Know
Verizon Communications (VZ - Free Report) closed the most recent trading day at $39.29, moving +1.89% from the previous trading session. The stock exceeded the S&P 500, which registered a loss of 0.37% for the day. Elsewhere, the Dow lost 0.62%, while the tech-heavy Nasdaq lost 0.19%.
The largest U.S. cellphone carrier's shares have seen an increase of 2.36% over the last month, surpassing the Computer and Technology sector's gain of 1.22% and the S&P 500's gain of 1.56%.
The investment community will be paying close attention to the earnings performance of Verizon Communications in its upcoming release. The company is slated to reveal its earnings on January 23, 2024. It is anticipated that the company will report an EPS of $1.07, marking a 10.08% fall compared to the same quarter of the previous year. Meanwhile, the latest consensus estimate predicts the revenue to be $34.82 billion, indicating a 1.23% decrease compared to the same quarter of the previous year.
Investors should also note any recent changes to analyst estimates for Verizon Communications. Such recent modifications usually signify the changing landscape of near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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.
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. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.5% decrease. Verizon Communications is currently a Zacks Rank #3 (Hold).
In terms of valuation, Verizon Communications is presently being traded at a Forward P/E ratio of 8.38. This denotes a discount relative to the industry's average Forward P/E of 16.95.
It's also important to note that VZ currently trades at a PEG ratio of 2.4. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 2.2.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 236, placing it within the bottom 7% of over 250 industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming 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.