Yahoo Finance Verizon Communications (VZ) Stock Slides as Market Rises: Facts to Know Before You Trade
In the latest market close, Verizon Communications (VZ) reached $39.46, with a -0.53% movement compared to the previous day. The stock trailed the S&P 500, which registered a daily gain of 0.77%. On the other hand, the Dow registered a gain of 0.49%, and the technology-centric Nasdaq increased by 0.95%.
Heading into today, shares of the largest U.S. cellphone carrier had lost 0.97% over the past month, outpacing the Computer and Technology sector's loss of 3.05% and lagging the S&P 500's gain of 3.71% 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 July 22, 2024. It is anticipated that the company will report an EPS of $1.15, marking a 4.96% fall compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $33.06 billion, reflecting a 1.44% rise from the equivalent quarter last year.
For the full year, the Zacks Consensus Estimates are projecting earnings of $4.59 per share and revenue of $135.02 billion, which would represent changes of -2.55% and +0.78%, respectively, from the prior year.
Investors might also notice recent changes to analyst estimates for Verizon Communications. These revisions typically reflect the latest short-term business trends, which can change frequently. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
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. Over the past month, there's been no change in the Zacks Consensus EPS estimate. Verizon Communications presently features a Zacks Rank of #3 (Hold).
In the context of valuation, Verizon Communications is at present trading with a Forward P/E ratio of 8.64. Its industry sports an average Forward P/E of 19.5, so one might conclude that Verizon Communications is trading at a discount comparatively.
Meanwhile, VZ's PEG ratio is currently 2.88. Comparable to the widely accepted P/E ratio, the PEG ratio also accounts for the company's projected earnings growth. By the end of yesterday's trading, the Wireless National industry had an average PEG ratio of 2.88.
The Wireless National industry is part of the Computer and Technology sector. This industry currently has a Zacks Industry Rank of 188, which puts it in the bottom 26% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within 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.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Verizon Communications Inc. (VZ) : Free Stock Analysis Report