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Verizon Communications (VZ) Stock Moves -0.51%: What You Should Know
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Verizon Communications (VZ - Free Report) closed the most recent trading day at $32.99, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Coming into today, shares of the largest U.S. cellphone carrier had lost 1.16% in the past month. In that same time, the Computer and Technology sector lost 1.46%, while the S&P 500 lost 1.43%.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Verizon Communications is projected to report earnings of $1.19 per share, which would represent a year-over-year decline of 9.85%. Meanwhile, our latest consensus estimate is calling for revenue of $33.51 billion, down 2.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.72 per share and revenue of $133.65 billion. These totals would mark changes of -8.88% and -2.33%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Verizon Communications. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.02. Its industry sports an average Forward P/E of 10.63, so we one might conclude that Verizon Communications is trading at a discount comparatively.
Investors should also note that VZ has a PEG ratio of 2.01 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wireless National stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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Verizon Communications (VZ) Stock Moves -0.51%: What You Should Know
Verizon Communications (VZ - Free Report) closed the most recent trading day at $32.99, moving -0.51% from the previous trading session. This change was narrower than the S&P 500's daily loss of 1.47%. At the same time, the Dow lost 1.14%, and the tech-heavy Nasdaq lost 1.57%.
Coming into today, shares of the largest U.S. cellphone carrier had lost 1.16% in the past month. In that same time, the Computer and Technology sector lost 1.46%, while the S&P 500 lost 1.43%.
Wall Street will be looking for positivity from Verizon Communications as it approaches its next earnings report date. This is expected to be October 24, 2023. On that day, Verizon Communications is projected to report earnings of $1.19 per share, which would represent a year-over-year decline of 9.85%. Meanwhile, our latest consensus estimate is calling for revenue of $33.51 billion, down 2.15% from the prior-year quarter.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.72 per share and revenue of $133.65 billion. These totals would mark changes of -8.88% and -2.33%, respectively, from last year.
Investors should also note any recent changes to analyst estimates for Verizon Communications. These recent revisions tend to reflect the evolving nature of short-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. 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.
The Zacks Rank system, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate has moved 0.14% lower within the past month. Verizon Communications is holding a Zacks Rank of #3 (Hold) right now.
Looking at its valuation, Verizon Communications is holding a Forward P/E ratio of 7.02. Its industry sports an average Forward P/E of 10.63, so we one might conclude that Verizon Communications is trading at a discount comparatively.
Investors should also note that VZ has a PEG ratio of 2.01 right now. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. Wireless National stocks are, on average, holding a PEG ratio of 1.85 based on yesterday's closing prices.
The Wireless National industry is part of the Computer and Technology sector. This group has a Zacks Industry Rank of 206, putting it in the bottom 19% of all 250+ industries.
The Zacks Industry Rank includes is listed in order 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.