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Verizon Communications (VZ - Free Report) ended the recent trading session at $44.01, demonstrating a +0.39% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Shares of the largest U.S. cellphone carrier witnessed a gain of 2.6% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 8.21% and the S&P 500's gain of 5.41%.
The upcoming earnings release of Verizon Communications will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company is forecasted to report an EPS of $1.17, showcasing a 4.1% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.7 billion, reflecting a 1.11% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.58 per share and a revenue of $135.16 billion, demonstrating changes of -2.76% and +0.89%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.17% increase. Right now, Verizon Communications possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Verizon Communications is currently exchanging hands at a Forward P/E ratio of 9.57. This represents a discount compared to its industry's average Forward P/E of 19.55.
Meanwhile, VZ's PEG ratio is currently 3.99. 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 3.85 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% 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.
To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.
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Verizon Communications (VZ) Rises Yet Lags Behind Market: Some Facts Worth Knowing
Verizon Communications (VZ - Free Report) ended the recent trading session at $44.01, demonstrating a +0.39% swing from the preceding day's closing price. The stock trailed the S&P 500, which registered a daily gain of 0.97%. On the other hand, the Dow registered a gain of 0.3%, and the technology-centric Nasdaq increased by 1.45%.
Shares of the largest U.S. cellphone carrier witnessed a gain of 2.6% over the previous month, trailing the performance of the Computer and Technology sector with its gain of 8.21% and the S&P 500's gain of 5.41%.
The upcoming earnings release of Verizon Communications will be of great interest to investors. The company's earnings report is expected on October 22, 2024. The company is forecasted to report an EPS of $1.17, showcasing a 4.1% downward movement from the corresponding quarter of the prior year. At the same time, our most recent consensus estimate is projecting a revenue of $33.7 billion, reflecting a 1.11% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $4.58 per share and a revenue of $135.16 billion, demonstrating changes of -2.76% and +0.89%, respectively, from the preceding year.
Investors should also take note of any recent adjustments to analyst estimates for Verizon Communications. Recent revisions tend to reflect the latest near-term business trends. As such, positive estimate revisions reflect analyst optimism about the company's business and profitability.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed a 0.17% increase. Right now, Verizon Communications possesses a Zacks Rank of #3 (Hold).
From a valuation perspective, Verizon Communications is currently exchanging hands at a Forward P/E ratio of 9.57. This represents a discount compared to its industry's average Forward P/E of 19.55.
Meanwhile, VZ's PEG ratio is currently 3.99. 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 3.85 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. Currently, this industry holds a Zacks Industry Rank of 158, positioning it in the bottom 38% 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.
To follow VZ in the coming trading sessions, be sure to utilize Zacks.com.