Verizon Communications (VZ - Free Report) closed the most recent trading day at $60.27, moving -0.22% from the previous trading session. This change lagged the S&P 500's daily gain of 0.35%. Elsewhere, the Dow gained 0.24%, while the tech-heavy Nasdaq added 0.56%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 0.69% over the past month, lagging the Computer and Technology sector's gain of 6.72% and the S&P 500's gain of 4.69% in that time.
Investors will be hoping for strength from VZ as it approaches its next earnings release, which is expected to be January 30, 2020. The company is expected to report EPS of $1.15, up 2.68% from the prior-year quarter. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $34.43 billion, up 0.45% from the year-ago period.
Investors might also notice recent changes to analyst estimates for VZ. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Research indicates that these estimate revisions are directly correlated with near-term share price momentum. 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 past month, the Zacks Consensus EPS estimate has moved 0.04% higher. VZ is currently a Zacks Rank #2 (Buy).
Looking at its valuation, VZ is holding a Forward P/E ratio of 12.21. For comparison, its industry has an average Forward P/E of 14.47, which means VZ is trading at a discount to the group.
It is also worth noting that VZ currently has a PEG ratio of 3.8. 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. Wireless National stocks are, on average, holding a PEG ratio of 3.13 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 96, which puts it in the top 38% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.