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Verizon Communications (VZ) Outpaces Stock Market Gains: What You Should Know
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Verizon Communications (VZ - Free Report) ended the recent trading session at $31.45, demonstrating a +1.94% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 0.39%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 7.77% over the past month, lagging the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% 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 October 24, 2023. On that day, Verizon Communications is projected to report earnings of $1.18 per share, which would represent a year-over-year decline of 10.61%. Our most recent consensus estimate is calling for quarterly revenue of $33.41 billion, down 2.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.69 per share and revenue of $133.56 billion, indicating changes of -9.46% and -2.39%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 0.79% downward. At present, Verizon Communications boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 6.58. This signifies a discount in comparison to the average Forward P/E of 10.39 for its industry.
We can additionally observe that VZ currently boasts a PEG ratio of 1.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Wireless National was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.
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Verizon Communications (VZ) Outpaces Stock Market Gains: What You Should Know
Verizon Communications (VZ - Free Report) ended the recent trading session at $31.45, demonstrating a +1.94% swing from the preceding day's closing price. The stock's performance was ahead of the S&P 500's daily gain of 0.63%. Meanwhile, the Dow gained 0.59%, and the Nasdaq, a tech-heavy index, added 0.39%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 7.77% over the past month, lagging the Computer and Technology sector's loss of 2.3% and the S&P 500's loss of 3.39% 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 October 24, 2023. On that day, Verizon Communications is projected to report earnings of $1.18 per share, which would represent a year-over-year decline of 10.61%. Our most recent consensus estimate is calling for quarterly revenue of $33.41 billion, down 2.42% from the year-ago period.
Regarding the entire year, the Zacks Consensus Estimates forecast earnings of $4.69 per share and revenue of $133.56 billion, indicating changes of -9.46% and -2.39%, respectively, compared to the previous year.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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 0.79% downward. At present, Verizon Communications boasts a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 6.58. This signifies a discount in comparison to the average Forward P/E of 10.39 for its industry.
We can additionally observe that VZ currently boasts a PEG ratio of 1.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. The Wireless National was holding an average PEG ratio of 1.77 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. At present, this industry carries a Zacks Industry Rank of 209, placing it within the bottom 18% of over 250 industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. 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.