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Verizon Communications (VZ) Stock Moves -0.78%: What You Should Know
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In the latest trading session, Verizon Communications (VZ - Free Report) closed at $40.52, marking a -0.78% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.
The largest U.S. cellphone carrier's shares have seen an increase of 1.77% over the last month, surpassing the Computer and Technology sector's gain of 1.67% and falling behind the S&P 500's gain of 1.78%.
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's earnings per share (EPS) are projected to be $1.12, reflecting a 6.67% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $33.38 billion, indicating a 1.41% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.58 per share and a revenue of $135.63 billion, indicating changes of -2.76% and +1.24%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. These recent revisions tend to reflect the evolving nature of short-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Right now, Verizon Communications possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Verizon Communications is currently being traded at a Forward P/E ratio of 8.91. This expresses a discount compared to the average Forward P/E of 17.98 of its industry.
One should further note that VZ currently holds a PEG ratio of 3.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Wireless National industry had an average PEG ratio of 2.54.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 187, positioning it in the bottom 26% 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) Stock Moves -0.78%: What You Should Know
In the latest trading session, Verizon Communications (VZ - Free Report) closed at $40.52, marking a -0.78% move from the previous day. This move was narrower than the S&P 500's daily loss of 0.95%. Elsewhere, the Dow lost 1.09%, while the tech-heavy Nasdaq lost 0.84%.
The largest U.S. cellphone carrier's shares have seen an increase of 1.77% over the last month, surpassing the Computer and Technology sector's gain of 1.67% and falling behind the S&P 500's gain of 1.78%.
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's earnings per share (EPS) are projected to be $1.12, reflecting a 6.67% decrease from the same quarter last year. Alongside, our most recent consensus estimate is anticipating revenue of $33.38 billion, indicating a 1.41% upward movement from the same quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $4.58 per share and a revenue of $135.63 billion, indicating changes of -2.76% and +1.24%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. These recent revisions tend to reflect the evolving nature of short-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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. To take advantage of this, we've established the Zacks Rank, an exclusive model that considers these estimated changes and delivers an operational rating system.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.2% lower. Right now, Verizon Communications possesses a Zacks Rank of #3 (Hold).
With respect to valuation, Verizon Communications is currently being traded at a Forward P/E ratio of 8.91. This expresses a discount compared to the average Forward P/E of 17.98 of its industry.
One should further note that VZ currently holds a PEG ratio of 3.33. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Wireless National industry had an average PEG ratio of 2.54.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 187, positioning it in the bottom 26% 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.