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Verizon Communications (VZ) Ascends While Market Falls: Some Facts to Note
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Verizon Communications (VZ - Free Report) closed the latest trading day at $40.13, indicating a +1.57% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.41%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 0.53% over the past month, lagging the Computer and Technology sector's gain of 1.42% and the S&P 500's gain of 2.7% in that time.
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 April 22, 2024. In that report, analysts expect Verizon Communications to post earnings of $1.12 per share. This would mark a year-over-year decline of 6.67%. In the meantime, our current consensus estimate forecasts the revenue to be $33.44 billion, indicating a 1.61% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.59 per share and revenue of $135.65 billion. These totals would mark changes of -2.55% and +1.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Verizon Communications presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 8.61. This indicates a discount in contrast to its industry's Forward P/E of 20.76.
Investors should also note that VZ has a PEG ratio of 3.01 right now. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 2.55.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 36% of all 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) Ascends While Market Falls: Some Facts to Note
Verizon Communications (VZ - Free Report) closed the latest trading day at $40.13, indicating a +1.57% change from the previous session's end. The stock's change was more than the S&P 500's daily loss of 0.11%. Elsewhere, the Dow gained 0.12%, while the tech-heavy Nasdaq lost 0.41%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 0.53% over the past month, lagging the Computer and Technology sector's gain of 1.42% and the S&P 500's gain of 2.7% in that time.
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 April 22, 2024. In that report, analysts expect Verizon Communications to post earnings of $1.12 per share. This would mark a year-over-year decline of 6.67%. In the meantime, our current consensus estimate forecasts the revenue to be $33.44 billion, indicating a 1.61% growth compared to the corresponding quarter of the prior year.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.59 per share and revenue of $135.65 billion. These totals would mark changes of -2.55% and +1.25%, respectively, from last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Verizon Communications presently features a Zacks Rank of #3 (Hold).
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 8.61. This indicates a discount in contrast to its industry's Forward P/E of 20.76.
Investors should also note that VZ has a PEG ratio of 3.01 right now. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 2.55.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 162, positioning it in the bottom 36% of all 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.