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Verizon Communications (VZ) Increases Despite Market Slip: Here's What You Need to Know
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Verizon Communications (VZ - Free Report) closed the most recent trading day at $45.21, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 7.49% in the past month. In that same time, the Computer and Technology sector gained 2.77%, while the S&P 500 gained 2.17%.
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 October 22, 2024. The company is expected to report EPS of $1.17, down 4.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $33.7 billion, up 1.11% from the year-ago period.
VZ's full-year Zacks Consensus Estimates are calling for earnings of $4.58 per share and revenue of $135.16 billion. These results would represent year-over-year changes of -2.76% and +0.89%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Currently, Verizon Communications is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 9.8. This valuation marks a discount compared to its industry's average Forward P/E of 21.59.
It's also important to note that VZ currently trades at a PEG ratio of 4.09. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 3.92.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Verizon Communications (VZ) Increases Despite Market Slip: Here's What You Need to Know
Verizon Communications (VZ - Free Report) closed the most recent trading day at $45.21, moving +0.67% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.93%. At the same time, the Dow lost 0.41%, and the tech-heavy Nasdaq lost 1.53%.
Coming into today, shares of the largest U.S. cellphone carrier had gained 7.49% in the past month. In that same time, the Computer and Technology sector gained 2.77%, while the S&P 500 gained 2.17%.
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 October 22, 2024. The company is expected to report EPS of $1.17, down 4.1% from the prior-year quarter. Our most recent consensus estimate is calling for quarterly revenue of $33.7 billion, up 1.11% from the year-ago period.
VZ's full-year Zacks Consensus Estimates are calling for earnings of $4.58 per share and revenue of $135.16 billion. These results would represent year-over-year changes of -2.76% and +0.89%, respectively.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. These revisions help to show the ever-changing nature of near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
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, 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, there's been a 0.17% rise in the Zacks Consensus EPS estimate. Currently, Verizon Communications is carrying a Zacks Rank of #3 (Hold).
Digging into valuation, Verizon Communications currently has a Forward P/E ratio of 9.8. This valuation marks a discount compared to its industry's average Forward P/E of 21.59.
It's also important to note that VZ currently trades at a PEG ratio of 4.09. 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. As the market closed yesterday, the Wireless National industry was having an average PEG ratio of 3.92.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 146, which puts it in the bottom 43% 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.