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Verizon Communications (VZ) Stock Drops Despite Market Gains: Important Facts to Note
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Verizon Communications (VZ - Free Report) closed the most recent trading day at $37.67, moving -1.52% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.43%, while the tech-heavy Nasdaq appreciated by 0.2%.
The the stock of largest U.S. cellphone carrier has risen by 7.11% in the past month, leading the Computer and Technology sector's gain of 5.97% and the S&P 500's gain of 5.28%.
The upcoming earnings release of Verizon Communications will be of great interest to investors. The company's earnings report is expected on January 23, 2024. The company's upcoming EPS is projected at $1.08, signifying a 9.24% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $34.72 billion, indicating a 1.52% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.70 per share and a revenue of $133.56 billion, representing changes of -9.27% and -2.39%, respectively, from the prior year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Verizon Communications has a Forward P/E ratio of 8.13 right now. This represents a discount compared to its industry's average Forward P/E of 8.63.
We can additionally observe that VZ currently boasts a PEG ratio of 2.32. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. VZ's industry had an average PEG ratio of 2.19 as of yesterday's close.
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 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.
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Verizon Communications (VZ) Stock Drops Despite Market Gains: Important Facts to Note
Verizon Communications (VZ - Free Report) closed the most recent trading day at $37.67, moving -1.52% from the previous trading session. The stock's performance was behind the S&P 500's daily gain of 0.39%. Elsewhere, the Dow saw an upswing of 0.43%, while the tech-heavy Nasdaq appreciated by 0.2%.
The the stock of largest U.S. cellphone carrier has risen by 7.11% in the past month, leading the Computer and Technology sector's gain of 5.97% and the S&P 500's gain of 5.28%.
The upcoming earnings release of Verizon Communications will be of great interest to investors. The company's earnings report is expected on January 23, 2024. The company's upcoming EPS is projected at $1.08, signifying a 9.24% drop compared to the same quarter of the previous year. Alongside, our most recent consensus estimate is anticipating revenue of $34.72 billion, indicating a 1.52% downward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.70 per share and a revenue of $133.56 billion, representing changes of -9.27% and -2.39%, respectively, from the prior year.
Any recent changes to analyst estimates for Verizon Communications should also be noted by investors. These latest adjustments often mirror the shifting dynamics of short-term business patterns. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. To utilize this, we have created the Zacks Rank, a proprietary model that integrates these estimate changes and provides a functional rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate remained stagnant. Verizon Communications currently has a Zacks Rank of #3 (Hold).
Valuation is also important, so investors should note that Verizon Communications has a Forward P/E ratio of 8.13 right now. This represents a discount compared to its industry's average Forward P/E of 8.63.
We can additionally observe that VZ currently boasts a PEG ratio of 2.32. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. VZ's industry had an average PEG ratio of 2.19 as of yesterday's close.
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 39% 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.
Remember to apply Zacks.com to follow these and more stock-moving metrics during the upcoming trading sessions.