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Verizon Communications (VZ) Gains As Market Dips: What You Should Know
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Verizon Communications (VZ - Free Report) ended the recent trading session at $42.28, demonstrating a +0.76% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
The largest U.S. cellphone carrier's stock has climbed by 4.38% in the past month, exceeding the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
Investors will be eagerly watching for the performance of Verizon Communications in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 22, 2024. The company is expected to report EPS of $1.12, down 6.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $33.38 billion, up 1.43% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.60 per share and revenue of $135.41 billion. These totals would mark changes of -2.34% and +1.07%, respectively, from last year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 has shifted 0.19% upward. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Verizon Communications is presently trading at a Forward P/E ratio of 9.13. This indicates a discount in contrast to its industry's Forward P/E of 18.18.
It's also important to note that VZ currently trades at a PEG ratio of 3.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless National was holding an average PEG ratio of 2.64 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 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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) Gains As Market Dips: What You Should Know
Verizon Communications (VZ - Free Report) ended the recent trading session at $42.28, demonstrating a +0.76% swing from the preceding day's closing price. This move outpaced the S&P 500's daily loss of 0.2%. Meanwhile, the Dow experienced a drop of 0.6%, and the technology-dominated Nasdaq saw an increase of 0.11%.
The largest U.S. cellphone carrier's stock has climbed by 4.38% in the past month, exceeding the Computer and Technology sector's gain of 2.99% and the S&P 500's gain of 3.32%.
Investors will be eagerly watching for the performance of Verizon Communications in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on April 22, 2024. The company is expected to report EPS of $1.12, down 6.67% from the prior-year quarter. Meanwhile, our latest consensus estimate is calling for revenue of $33.38 billion, up 1.43% from the prior-year quarter.
Looking at the full year, the Zacks Consensus Estimates suggest analysts are expecting earnings of $4.60 per share and revenue of $135.41 billion. These totals would mark changes of -2.34% and +1.07%, respectively, from last year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These revisions typically reflect the latest short-term business trends, which can change frequently. 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. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable 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 has shifted 0.19% upward. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Looking at valuation, Verizon Communications is presently trading at a Forward P/E ratio of 9.13. This indicates a discount in contrast to its industry's Forward P/E of 18.18.
It's also important to note that VZ currently trades at a PEG ratio of 3.41. The PEG ratio is akin to the commonly utilized P/E ratio, but this measure also incorporates the company's anticipated earnings growth rate. The Wireless National was holding an average PEG ratio of 2.64 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 176, putting it in the bottom 31% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. 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.