Yahoo Finance Verizon Communications (VZ) Stock Dips While Market Gains: Key Facts
Verizon Communications (VZ) ended the recent trading session at $39.78, demonstrating a -0.82% swing from the preceding day's closing price. The stock's change was less than the S&P 500's daily gain of 0.03%. At the same time, the Dow added 0.41%, and the tech-heavy Nasdaq gained 0.12%.
Heading into today, shares of the largest U.S. cellphone carrier had gained 0.45% over the past month, outpacing the Computer and Technology sector's loss of 0.55% and the S&P 500's loss of 0.9% in that time.
Analysts and investors alike will be keeping a close eye on the performance of Verizon Communications in its upcoming earnings disclosure. The company's earnings report is set to go public on April 22, 2024. On that day, Verizon Communications is projected to report earnings of $1.12 per share, which would represent a year-over-year decline of 6.67%. Alongside, our most recent consensus estimate is anticipating revenue of $33.38 billion, indicating a 1.41% upward movement from the same quarter last year.
For the entire fiscal year, the Zacks Consensus Estimates are projecting earnings of $4.57 per share and a revenue of $135.63 billion, representing changes of -2.97% and +1.24%, respectively, from the prior year.
Investors should also pay attention to any latest changes in analyst estimates for Verizon Communications. These latest adjustments often mirror the shifting dynamics of short-term business patterns. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research reveals that these estimate alterations are directly linked with the stock price performance in the near future. 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, 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 past month, the Zacks Consensus EPS estimate has moved 0.63% lower. Verizon Communications presently features a Zacks Rank of #3 (Hold).
From a valuation perspective, Verizon Communications is currently exchanging hands at a Forward P/E ratio of 8.78. This denotes a discount relative to the industry's average Forward P/E of 17.85.
One should further note that VZ currently holds a PEG ratio of 3.28. The PEG ratio bears resemblance to the frequently used P/E ratio, but this parameter also includes the company's expected earnings growth trajectory. The Wireless National was holding an average PEG ratio of 2.44 at yesterday's closing price.
The Wireless National industry is part of the Computer and Technology sector. With its current Zacks Industry Rank of 204, this industry ranks in the bottom 20% of all industries, numbering over 250.
The Zacks Industry Rank assesses the strength of our separate industry groups by calculating the average Zacks Rank of the individual stocks contained within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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Verizon Communications Inc. (VZ) : Free Stock Analysis Report
